Minimum Wage Should Be Legal - 940 Words

Minimum wage is now at a steady $7.25 per hour and shows no sign of increasing anytime soon. There are states right now at the time that are trying to raise the minimum wage, and see how this will effect the economy of the area. As prices continue to increase in every day expenses, it becomes hard for us to keep up and be able to provide for our family or get even the basic necessities that we may need. People are saying that with more money, they will spend more back to the economy, thus helping it. Others say that if they are to raise the minimum wage this could cause for job lay-offs. With having to pay more per employee, companies now have to be able to provide the money. This could be a bit of a problem for the employees, because now they are at threat of being jobless. If companies have to be able to pay their employees more, they have to be able to raise their prices on the goods that they are selling to be able to suffice for the money that the company is giving to their empl oyees. This would mean that even though we are making more, we are still spending as much in return. If minimum wage is to be brought up this Wein 2 can have positive impacts on the average person. However if companies lay employees off, now a lot of people are without work. There are many possibilities as an outcome as to what the effect of raising minimum mage may be, or keeping it the same. Currently Seattle is trying to raise its minimum wage to fifteen dollars an hour. That is more thanShow MoreRelatedMinimum Wage Should Be Legal1427 Words   |  6 PagesThere has been a growing desire for minimum wage to be set at $15 an hour. While many of our lowest pay employees will be getting paychecks, workers who have been at businesses longer feel like they’re being undermined. Employees say that it is not fair for a new worker to be earning as much as someone who has been apart of the company for three years. Also, raising minimum wage poses a financial and management challenge for employers. Numerous cities have passed wage increases in the past year, andRead MoreMinimum Wage Should Be Legal1307 Words   |  6 Pagesconcept of minimum wage has been a huge issue among Americans and has really become a large discussion point among a lot of the political debates as well as the Internet recently. According to the United States Department of Labor, â€Å"The federal m inimum wage is $7.25 per hour effective July 24, 2009. Many states also have minimum wage laws. Some state laws provide greater employee protections; employers must comply with both†. Regardless of the constant debates that occur on whether or not minimum wageRead MoreMinimum Wage Should Be Legal1239 Words   |  5 PagesRaise Minimum Wage There is not one state in the US where a minimum wage worker can afford a two-bedroom unit at fair market rent, working a standard 40-hour work week(There are a few states where this is not true. Also, the fair market rent is the average cost. It doesn t reflect the super expensive and bottom rent places). The federal minimum wage would be $10.86 [per hour] if it had kept up with inflation over the past 40 years. Instead, it is $7.25 [per hour]. Every state in the US should haveRead MoreThe Minimum Wage Should Be Legal905 Words   |  4 PagesRise in minimum wage has several impacts apart from unemployment. The minimum-wage workers would have to pay more taxes and receive fewer benefits if they are subjected to rise of minimum wage. The federal marginal rate for tax is 32 percent on an average for low earning members. This would amount to almost one third of the income of a worker. The tax rate is quite high for low paid workers. The rise of minimum wage would also reduce some of t he advantages and leverages that the low-wage workersRead MoreMinimum Wage Should Be Legal1435 Words   |  6 PagesMinimum wage is currently a very heavily debated topic. Many are in favor of raising the current national minimum wage of $7.25 to a more livable wage; suggestions for this increase are anywhere between $9-15 per hour. While the minimum wage has been raised several times throughout the years, it has not been kept proportional to raises in inflation which has led to a decrease in the amount of goods that people are able to buy with those wages, in turn making their economic lives more difficult. ThoseRead MoreMinimum Wage Should Be Legal1156 Words   |  5 PagesIn United States, we hear the government, businesses argued about minimum wage. Whether it should be raised or leave it the way it is. But, what exactly is minimum wages? Minimum wage is the least amount of money per hour that must be paid to a worker after surrounding a service according to the law. Many work ing class families’ lives depend on this minimum wages. There are few families who make less than $15000 a year who feed their families on this salary and still pay bills from it. Over the pastRead MoreMinimum Wage Laws Should Be Legal900 Words   |  4 PagesMinimum wage bill majorly refers to a price control that is imposed by the government. The price control concept set a floor indicating what the minimum price must be paid or be imposed on certain services or goods (Murphy). The main aim of a government setting up price controls is always to ensure individuals or employers of a certain job group receive fair wages. Also, the minimum wage laws are mostly used by the federal government to ensure a basic quality of life among all the countries citizensRead MoreThe Federal Minimum Wage Should Be Legal2004 Words   |  9 Pagesinvolved in an impassioned debate over the federal minimum wage. As of October 5, 2016, the federal minimum wage is set at seven dollars and twenty-f ive cents an hour. There are numerous amounts of stakeholders when it comes to minimum wage. The three stakeholders mentioned in this essay will be Companies, Employees, and the Economy. In addition to the stakeholders, this essay will also dig into the history of the United States Federal Minimum Wage and see how it has progressed over the years and ifRead MoreRaising The Federal Minimum Wage799 Words   |  4 Pages In the US, President Barack Obama urges Congress to raise the federal minimum wage to $10.10 an hour from $7.25. Although some Republicans oppose to this action, overwhelming majority of Americans see that is a good idea (The Guardian, 2014). Regarding to the issue of minimum wage, there have been lots of debates for a long time. Some economists such as Milton Friedman deeply believe that minimum wage kills jobs, but some like Alan Krueger and David Card think, to some extend, it actually increasedRead MoreThe Challenges of Implement a Minimum Wages Policy1077 Word s   |  5 PagesCreating a so called â€Å"culture of compliance† among employers (Skidmore 1999: 435) is a low-cost strategy for facilitating the self-enforcement of minimum wage. This strategy implies the construction of persuasive arguments in favor of the minimum wage and the appeal to common values and beliefs such as, for instance, the principle of â€Å"fair pay – fair play†. Here, two main strategies for building commitment among employers can be identified. First, persuasive processes at the interpersonal level