Preview

The Economic Issue Of Minimum Wage

Satisfactory Essays
Open Document
Open Document
255 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Economic Issue Of Minimum Wage
For this term paper, I decided to talk about the economic issue of minimum wage. Not only is this a pressing issue in 2016, but also it applies to individuals like myself (and other students or employees that deal with minimum wage). This presses the issue on if the government should raise the federal minimum wage. I am arguing that they should because society and the government needs to consider inflation in the decision and it could arguable go against human rights if the government doesn’t. According to statistics on the 2016 election, 59% of votes (109,373 voter) say that the minimum wage should be raised and adjusted according every year depending on inflation. The other 41% (76,023 voters) voted against. Their argument revolves around
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    The Pros And Cons Of Minimum Wage
    • 343 Words
    • 2 Pages

    The Pros And Cons Of Minimum Wage

    The second fallacy that was enlightening was how minimum wage works. In this crazy year before the next presidential election, minimum wage has become a hot button issue. The problem with politics is that no one ever explains the economics of minimum wage. They just throw out policy ideas without actually informing the voting public on how they came to a conclusion. After learning about supply and demand of work force, it finally cleared up all the misinformation that I have heard. The greatest thing is that all the current candidates have not purposed a solution that was equal to what would actually solve the minimum wage issue. We learned that minimum wage is a government policy the artificially keeps wages higher than the market equilibrium…

    • 343 Words
    • 2 Pages
    Good Essays
    Read More
  • Powerful Essays

    Busi 620 Research Paper The Economical effects of Minimum wage
    • 2180 Words
    • 6 Pages

    Busi 620 Research Paper The Economical effects of Minimum wage

    A wage is the set payment that is generally paid on weekly or daily schedule and given to an employee by an employer. Minimum wage is the minimal amount of compensation an employer can legally pay employees on monthly, weekly, daily, or hourly basis. The minimum wage is set mostly by the government in an attempt to standardize the periodic pay amount below which workers cannot be compensated with by their employers. New Zealand was one of the first countries to introduce and enact laws that govern minimum wage. In Victoria Australia Minimum wage was forced upon six different companies that paid low wages when the Factories Act was amended to allow establishment of the wages board in 1896. A universal standard minimum wage was not set. In 1909 Britain President Winston Churchill introduced and enacted Trade Board Act. In 1938 America introduced minimum wage Statutory. In some states they were enacted as proactive laws since 1912 which were later ruled out to be illegal. Many countries have since set a minimum wage although, in countries such as Italy, Germany and Austria they are dependent on the trade unions and employer groups to set the minimum wage for them. In United States, there are several states that have set their own minimum wage considerably above that of the federal government.…

    • 2180 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    mico economics and th minimum wage
    • 1045 Words
    • 5 Pages

    mico economics and th minimum wage

    The minimum wage has been a part of the United States labor system since I can remember. However there has not always been a minimum wage. What were the causes that made out government step in and enforce a minimum wage and how does this affect our economy today?…

    • 1045 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Pros And Cons Of Minimum Wage
    • 1537 Words
    • 7 Pages

    Pros And Cons Of Minimum Wage

    Wage problem is an important topic that is related to sociology and economics and it is also an important part that ordinary people are close interested. As the currencies performance of the value of labor, wage is the main source of the workers’ life, maintaining the survival and development of every worker and their family members. However, it is also the material basis for social stability. The minimum wage in the form of a national law to impose an important guarantee for low-income groups of workers, most of the world market economy countries have established this system. There are some theoretical models and theoretical research achievements of several minimum wage systems. Also analyzed from both positive and negative economic effects…

    • 1537 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    The Pros And Cons Of Raising Minimum Wage
    • 353 Words
    • 2 Pages

    The Pros And Cons Of Raising Minimum Wage

    Does increasing the price of goods just to raise minimum wage sound like a good idea? There is debate whether the minimum wage should be raised. Everyone probably has a different take on the idea of this. It wont actually decrease poverty, which is why the whole thing is being brought up; because people assume it, will. My point is that the minimum wage should not be raised.…

    • 353 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Raising The Minimum Wage Analysis
    • 545 Words
    • 3 Pages

    Raising The Minimum Wage Analysis

    A main controversial issue in todays society is whether or not to raise minimum wage and how much to raise it by. There comes both benefits and consequences to raising the minimum wage price. In an article written by David Henderson titled, “ Raising the Minimum Wage Will Not Reduce Poverty” Henderson discusses the consequences to raising minimum wage and how it may affect the youth and currently employed. In another related article found on the New York Post by Jonathan M. Trugman titled, “Raising minimum wage would cost a million people their jobs” Trugman confronts, “ The American worker is grossly underpaid, by about 25 percent to 30 percent — heck, wages have been stagnant for almost a decade.” (CITE) According to both David Henderson and Jonathon M. Trugman the consequence of raising minimum wage could amount to thousands to millions of Americans loosing their jobs and becoming unemployed. Though I concede that the minimum wage price should…

    • 545 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Should We Raise Minimum Wage
    • 625 Words
    • 3 Pages

    Should We Raise Minimum Wage

    Minimum wage is a topic that is always being discussed and debated over. One reason that this subject is so popular is because everyone who has a job is affected by the result of the wage. Some believe that the minimum should be raise to at least $9, while others strongly believe that the raise in wages will disturb the state of the economy. In the articles I have selected the pros and cons of raising the minimum wage are clearly stated. Some of the texts are editorial articles, and scholarly articles that have to do with the raise in the wage and others options on the subject.…

    • 625 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Raising Minimum Wage In Today's World
    • 462 Words
    • 2 Pages

    Raising Minimum Wage In Today's World

    Minimum wage had been a huge problem in today's world. It affecting about 1.3 millions people a year and continues to grow. People been trying to raise minimum wage forever. Minimum wage is affecting the lower and middle class the most. Some people don't notice what's really happening because they're blinded to how much they really should be making. Inflation also has to do with minimum wage. We think we get paid more, but in reality we don’t. Raising minimum wage also means prices for good go up as well. Basically we still at the same place we started. That's how they get us, by making us think we are making more and were not.…

    • 462 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Should The Minimum Wage Should Be Raised
    • 972 Words
    • 4 Pages

    Should The Minimum Wage Should Be Raised

    “Discussion about what does with minimum wage laws here in America has been at a higher than normal level since the Democratic Party took over as majority leader in both the House of Representatives and the Senate in the recent midterm elections, giving them control of Congress.” (Aronson, Daniel, and Eric French). As a result of an increase minimum wage, there is much better of it can talk about by the America’s lowest income workers; however there is also an equal amount of as the negative effect that can happen to these people. The main purpose of this research paper is to bring both sides of this argument into one document and with a most objective view as possible to analysis and describe all the argues and opposes for an increase in the…

    • 972 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    How To Raise Minimum Wage In America Essay
    • 631 Words
    • 3 Pages

    How To Raise Minimum Wage In America Essay

    During the State of the Union speech President Barack Obama address to America that no worker should have to work full time and still remain in poverty. As the cost of living continues to rise across the United States, America’s minimum wage is left unchanged. We must find the appropriate balance and yield better compensation to our citizens or otherwise working class Americans will simply not be able to cope with cost of living.…

    • 631 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Raising Minimum Wage In The United States
    • 805 Words
    • 4 Pages

    Raising Minimum Wage In The United States

    During the current problem in the United States and the argument of raising or keeping the minimum wage payment, it brings attention to the workers and big corporations. Many thoughts on the cost of living with a higher minimum would make the cost of living boost to the point where it’s not affordable to the average citizen. Raising the minimum wage could crush small businesses and turn eight employees at a chain restaurant to four employees due to the insufficient funds to pay the other four. Increasing the minimum wage will hurt the United States in more ways than citizens think.…

    • 805 Words
    • 4 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Minimum Wage Arguments
    • 345 Words
    • 2 Pages

    Minimum Wage Arguments

    Wouldn’t you like to have some more money for your time? The “effective” minimum wage is lower than it was when Reagan was president. While some believe that raising the minimum wage will not help those below the poverty line who do not currently have jobs, raising the minimum wage is a good idea because if you account for inflation, then the purchasing power of the minimum wage is 20% lower than when Ronald Reagan was president, and the men and women today do not want a handout but just a fair day’s pay.…

    • 345 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Should The Minimum Wage Be Raised
    • 442 Words
    • 2 Pages

    Should The Minimum Wage Be Raised

    A new issue that is being debated across the country is raising the minimum wage. Minimum wage is the lowest pay you can legally give to workers. The minimum wage is currently $7.25 an hour. There are some people that think the minimum wage should stay the same. Others think that is too low, and they want to raise it. However, research shows that the current minimum wage is high enough to live a normal life with essential needs. If minimum wage is raised then the effect will be huge. The economy will go down, teens and new workers won’t be able to find jobs, and it will only hurt the people it was meant for.…

    • 442 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    The Role Of Raising Minimum Wage In America
    • 641 Words
    • 3 Pages

    The Role Of Raising Minimum Wage In America

    This paper will talk about the subject of minimum wage in America. Right now it is a struggle for those who work and receive the 7-10 dollar an hour pay. With that type of income a family of three (two parents working (minimum wage) and one child) will only make $30, 160 in a year. Now we all know that you cannot do much with $30,160, but that does not mean that they deserve more than that. People deserve what they put in. That is why people who work hard tend to earn more money than people who do not. Here are three reasons for why the US should not raise the minimum wage. The minimum wage is for people who do not try hard enough in school, it will also raise the prices that we pay for, and it will also just make inflation increase at a much faster rate.…

    • 641 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Raise The Minimum Wage
    • 881 Words
    • 4 Pages

    Raise The Minimum Wage

    The 44th president of the United States of America said, “We should raise the minimum wage so that no one who works full time has to live in poverty.” For those who do not know what minimum wage is, it is the lowest wage sanctioned by law or by a special arrangement. In the United States, the minimum wage is $7.25 per hour. According to BLS Reports, in 2014 77.2 million people at the ages of 16 and older were paid at hourly rates. Out of those 77.2 million, 1.3 million received the minimum wage, while 1.7 of them had wages below the minimum. Through years of petitions and fighting for a raise in minimum wage, the people of the US were finally noticed by President Barack Obama. The president himself has taken the situation into his own hands,…

    • 881 Words
    • 4 Pages
    Good Essays
    Read More

Related Topics