The Minimum Wage Policy During The United States - 1714 Words

News stories abound with demands from workers, organizations, and lawmakers to increase the federal minimum wage. Headlines throughout the country highlight recent minimum wage policy changes in major cities such as Los Angeles and Seattle. Last month, Governor Andrew Cuomo of New York announced an approved minimum wage increase to $15 an hour for all fast food workers in the state (McGeehan). Even the website for the White House has a separate page, â€Å"Raise the Wage,† advocating for Congress to increase the federal minimum wage to $10.10 an hour (Raise the Wage). The most commonly held beliefs supporting an increase in the federal minimum wage are the potential lifting of families above the poverty line and the reduced demand for governmental assistance promised by livable wages. Democratic legislators believe people who work hard in the United States should receive living wages that combat poverty. Emotions flare over the minimum wage debate due to its strong connection with poverty and governmental assistance. While the issue tugs at the heart, people must also consider the issue logically in order to avoid unforeseen consequences. Increasing the federal minimum wage will have negative effects on training opportunities, non-wage compensation, and labor competition. An increase to the federal minimum wage adversely influences the training opportunities afforded to unskilled and low-skilled workers. Minimum wage impacts a company’s willingness to take a risk in hiringShow MoreRelatedMiimum Wage and Power to the People1746 Words   |  7 PagesThree – Power to the people The third and final alternative minimum wage is to allow the local people in the community vote on a living wage. This alternative would put all the power in the hands of the people; allowing them to decide what is best for their neighborhoods. If the people are allowed to vote in such matters, they will be permitted to use their voice and at the very least express their concerns with the gaps in minimum wage and cost of living in their community. However, there are drawbacksRead MoreMinimum Wage During The Great Depression1419 Words   |  6 PagesThe Minimum Wage Battle In the United States, the minimum wage was passed during the Great Depression in 1938 to protect the buying power of normal workers in a period in which the â€Å"unemployment rate was still a very high 19 percent† (Sklar, 2009, p. 1). Since that time, there has been significant debate about the controversial topic of raising the federal minimum wage. The federal minimum wage law was created to eliminate unfair practices of sweat shops and manufacturing companies during this timeRead MoreMinimum Wage And The Wage1639 Words   |  7 PagesMinimum wage is one of the many microeconomic policies that serve to correct imbalance in the economy. It is defined as the lowest amount of remuneration required of an employer to pay his employees during a given period of work. There exist different laws in different states that can fix the minimum wage policy. A current economic issue is minimum wage, or specifically, its pertinence to social inequality. Many sectors of society would be a ffected by changes in this policy. Minimum wage relies onRead MoreDoes the Minimum Wage Increase the Standard of Living for Low-Income People?1391 Words   |  6 PagesThe United States has maintained a minimum wage which was enacted since 1938. At the present time there is much political debate in regarding to increase the minimum wage to levels at the federal level, state, and local levels of government across this country. There are various theories regarding the minimum wage. Some believe it would circulate money into the economy faster which would negate and negative effects on employment, or even improve unemployment rates. Others point to the economic theoryRead MoreThe United States Systemic Process Of Waging For Labor1402 Words   |  6 Pagesessay primarily focuses on the United States systemic process of waging for labor. Raising the minimum wage is currently one of the biggest issues in the economy today where most economists are at a bias. This minimum hourly wage has been through an array of changes that have led us to a high raise of $10 come 2018. I chose this topic because I strongly believe in an equal income for all part-time workers. Even though we were previously informed that Hawai‘i’s minimum is supposed to eventually getRead MoreEssay about Fiscal and Monetary Policy965 Words   |  4 Pages The difference between fiscal and monetary policy lies within the different tools wield, and aspects of the economy they influence. Fiscal policy generally deals with different sorts of taxes to manage earnings and spending in the population, and how the government benefits from these interactions. Monetary policy, on the other hand, affects the base value and amount of money in circulation directly, as opposed to simply leveling off amounts from the population to put into federal spending. ThereRead More The Minimum Wage Should Be Eliminated Essay700 Words   |  3 PagesThe minimum wage is something that F.D.R. put in place a long time ago during the Great Depression. I dont think it worked then. It didnt solve any problems then and it hasnt solved any problems in 50 years. -- John Raese In the United States, the federal government maintains a national minimum wage to protect the purchasing power of ordinary workers. It seems good that the government protects your purchasing power by adjusting the minimum wage with respect to the inflation rate. ItsRead 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 the advantages and leverages that the low-wage workersRead MoreA Brief Note On Unemployment And Its Effect On The Economy864 Words   |  4 Pagesunemployment by instituting minimum wage laws, job security laws, and se tting regulations on working conditions. While most of these things may seem necessary and even beneficial we have learned that laws and regulations such as these set on businesses typically hurt the ones they are trying to help the most. It is another case of focusing on the goals that these policies have and not focusing on how well they work and not how well they work out for the group of people that these policies are put in place toRead MoreMinimum Wage863 Words   |  4 PagesMinimum wage is a controversial topic because everybody wants more. People want more money and some think that just increasing minimum wage can increase more money that they get. However, this is far from the truth as sometimes employers can’t pay their employers more than minimum wage. Not to mention that if the minimum wage goes up so does the price of everything else in order to adjust for the new price. So essentially increasing the wage majorly does nothing except maybe lower the value of you r