The Minimum Wage Debate May 3‚ 2013 Economic Consequences of Policy Analysis/Spring 2013 Alohalani Pickett Ayo Wilson Franklin Johnson ------------------------------------------------- Background Minimum wage laws set legal minimums for the hourly wage paid to certain groups of workers (Gorman). Minimum wage laws were invented in Australia and New Zealand with the purpose of guaranteeing a minimum standard of living for unskilled workers. In the United States‚ workers are generally
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adults and families who are trying to live on minimum wage jobs. In today’s society‚ this is almost impossible. An increase in the federal minimum wage is in the interest of the nation as a whole‚ although it will impose some costs. This nation has finally realized that the time to raise the minimum wage is long past due. Federal minimum wage has not been raised in over 8 years‚ since September of 1997. This is only the second time that the minimum wage has remained unchanged for such a long period
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Minimum wage was established in 1938 by congress under the Fair labor standard act. As a result of the great depression; President Franklin D Roosevelt signed the FLSA into law to stimulate social and economic growth. The FLSA among other benefits afforded employees in 1938 a $0.25 cent per hour minimum wage. As of July 24‚ 2009 the federal minimum wage is $7.25 per hour for non-exempt employees. President Donald Trump has taken the stance of keeping minimum wage at $7.25 per hour. President Trump
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The Minimum Wage Debate Business Ethics: The Minimum Wage Debate Minimum wage is defined as the lowest amount that employers can legally pay their workers per hour of labor. Most states have laws in place to enforce the minimum wage; those that do not are subject to the federal minimum wage of $7.25. There are both benefits and drawbacks of this type of policy. Many supporters of a minimum wage believe it increases the standard of living and reduced poverty. Those that oppose a minimum wage
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Boston University defines minimum wage as‚ "the lowest level of earnings for employees set by government legislation." In general there are two fiscal and social arguments on the minimum wage. Supply side economists see a minimum wage as an overreaching burden placed on small businesses while demand side economists argue wages set too low will result in higher levels of poverty. In this article I bring out some of the main intellectual concerns of the minimum wage. My goal for this article is not
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2013 Persuasive Essay $7.25 equals two gallons of gas‚ one fast food meal‚ or a simple school supply. With the minimum wage at the current rate you must work one hour to earn the seven dollars and twenty-five cents that only supply you with small necessities for everyday living. This problem was encountered before and was resolved with the agreement to higher the minimum wage from $5.85 to the current $7.25. Although that was a big increase in salaries‚ was it truly enough? This controversy
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2014 Minimum Wage in the United States The minimum wage in the United States was established in 1938 under the Fair Labor Standards Act‚ and has been amended numerous times since the original wage of $0.25 per hour; the current federal minimum wage is $7.25 per hour. The act makes it illegal to any employer to pay an employee under a federally mandated minimum wage‚ as well as regulates child labor and overtime hours and wages (DOL). In the past few years the debate on whether the minimum wage
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We believe that gradually raising the minimum wage will increase the standards of living of workers‚ reduces poverty‚ reduces inequality and help businesses work efficiently. Raising minimum wage is essential because the cost of living has gone up considerably. The increase in cost of living makes it impossible to raise a family on a minimum wage job. An average minimum wage worker earns about $14‚500 a year leaving way too many families below the poverty line. The poverty rates in America have been
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One of the most frequent questions being asked is whether minimum wage should be raised to $15.00 per hour or not. I do feel minimum wage should be raised‚ but raising the minimum wage to $15.00 per hour is more than our economy can afford. Raising minimum wage to $15.00 dollars per hour would only make the cost of living increase. The prices of clothes‚ gas‚ food‚ etc. would sky rocket. The unemployment rate would increase‚ because employers would hire fewer workers‚ and instead more jobs would
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Raising the minimum wage and getting paid more sounds like a great idea. Who wouldn’t want to have more money? While it may be cool to raise the minimum wage and get paid more money‚ it has it’s downsides. Minimum wage is the least amount of money an employer can give to their workers. We are talking about minimum wage because it is very important in our economy. People have been trying to raise the minimum wage. While some may argue that raising the minimum wage would help those who don’t have enough
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