In the situation of working post-high school at a minimum wage job‚ I would be making $10 an hour‚ with an additional $2 an hour due to my ability to fluently speak Vietnamese. Working thirty-two hours a week with a bi-weekly paycheck‚ I would be making $768 bi-weekly‚ summing up to $1536 as my monthly gross pay. However‚ my net pay would only be $1393.15 due to $142.85 going to taxes. Based on my net pay‚ I decided that I will stay at home. Moving out would not be the best option for me because
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First of all‚ one of the many groups that will be greatly affected by the raising of the minimum wage would be companies or businesses‚ especially small ones. Companies and businesses have a hard time adjusting with the amount of money they will need to pay their employees because they might not have the money for it. The companies can go into different direction because “Companies that are forced to pay their low-skilled employees a premium are faced with few options: drive up prices‚ reduce employee
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in price of the products you and I purchase on a weekly basis all has to do with the continuing raise of minimum wage. Donald R. Deere says “There are two ways to think about the minimum wage. The first - but misleading - is how much workers are going to get paid. The second - and correct - is how much people must be able to earn if they are going to get or keep a job. So the minimum wage‚ which is sometimes characterized as a "hand up‚ not a handout" is neither - it is a hurdle that trips up
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my parents immigrated to the United States. Because my parents were immigrants‚ they had no documentation and had to work vigorous hours for minimum wage. They moved into California‚ and this is where I was born. We lived in a poor neighborhood and there was only enough money for the things we needed and not for what we wanted. Rising rent prices and minimum salaries were among the contributing factors that led to my family struggling to stay economically stable. My parents had to each get multiple
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federal minimum wage was introduced in 1938 under President Franklin Delano Roosevelt during the Great Depression. It was set at a quarter‚ which is about $4.11 in modern America today. The minimum wage has been increased twenty-two times by Congress; the most recent increase was in 2009 when it changed from $6.55 to $7.25. There are twenty-nine states‚ including Washington‚ D.C that has a minimum wage higher than the federal minimum wage. Around 2‚561‚000 workers earn the federal minimum wage or below
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The Federal minimum wage needs to be raised from the current $7.25 an hour to a higher amount because it will help businesses‚ our minimum wage is low by many international standards‚ and the current minimum wage is not the living wage. Raising the minimum wage will help business‚ not hurt them. According to the CEPR from June 2014‚ the 13 states who raised their minimum wage saw faster job growth compared to the national average‚ opposed to fears of a shortage of work if this is enforced that the
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Minimum wage in the United States You are beginning a new job‚ you work five 12 hour shifts a week‚ you have bruises and cuts all over‚ you receive minimum wage which is $6.50 an hour. One of your coworkers sits in a chair and watches everyone for six hours five days a week. Your coworker gets paid $12.00 an hour for basically doing nothing. How do you feel? What will you do about it? There are multiple states in the United States that do not have a minimum wage‚ so they do not have to pay their
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Minimum wage legislation is a widely used policy tool put in place to increase wages of low-skilled workers. A minimum wage is usually the legal minimum wage(hourly‚ daily or monthly) that an employer can pay to employees. While many argue the numerous rationales of implementing a minimum wage‚ others find that the implementation of minimum wage can bring about harm. Among others‚ some benefits of minimum wage legislation include: protection of workers from exploitation by employers/firms‚ reducing
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Economic Effect of Minimum Wage During the Great Depression‚ many people were faced with unemployment and desperately tried to seek employment. Many employers tried to advantage of the labor market and hire for very little pay wages. In order to prevent the exploitation of cheap labor‚ the United States stepped in and passed the Fair Labor Standards Act of 1938‚ which dictated a minimum hourly rate of $.25 cents per hour. David Cooper‚ senior economic analyst and deputy director at Economic
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Raising the Minimum Wage COMM/215 May 05‚ 2014 Linda Camp Raising the Minimum Wage The Great Recession that began in late 2007 caused many downfalls such as real estate collapse‚ financial crisis‚ and major loss of jobs. This recession lasted until 2009 which to this day researchers say that the after math of the recession has yet to decease. The economy has not yet gone back to the way it was before the recession started. Did you know that during the Great Recession Australia was not fazed
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