Raising Minimum Wage Research Paper

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The minimum wage is the minimum amount of money an employer is required to pay their employees for their work at a given time. The minimum wage was established in 1938 to protect workers in the labor force and to stabilize the post-depression economy. The last time Congress raised the federal minimum wage from $7.25 was in July of 2009. This is the longest period without a nationwide increase since the minimum wage was established in 1938. Raising the federal minimum wage from $7.25 is a very controversial topic in today’s society. Some believe raising it will help stabilize the economy, while some believe it will hurt the economy. Supporters argue that raising the minimum wage will give more money to low-income families, which will help stimulate …show more content…
When the minimum wage is increased, low-wage workers will receive a higher income for their work, which leads to them bringing home more spending money. This extra money can be used on necessities such as food, clothing, shelter, and healthcare. According to the Economic Policy Institute, “raising the minimum wage to $17 would deliver an extra $3,200 annually to full-time African American workers” (pg.16). People of color make up a huge fraction of workers who are in poverty, and raising the minimum wage will not only push them above the poverty line, but it will also narrow the racial pay gap. Raising the minimum wage is critical and beneficial to all underprivileged families who work full-time jobs. Raising the minimum wage can significantly boost economic growth by increasing consumer spending and saving on government expenditures. Since households will have an increase in income, they will be able to spend more money on goods and services. This increase in spending will lead to businesses experiencing higher sales and earning more money. As these businesses experience higher demand, they will hire more employees to keep up with the customer's needs. According to Rose Khattar from American Progress, “Raising

Raising Minimum Wage Research Paper

The topic of raising the minimum wage involves both advantages and disadvantages. Some pros of raising the minimum wage are. Increasing the standard of living. Raising the wage could allow minimum wage workers to afford necessities such as food, housing, and healthcare. The cost of living has increased and continues to do so, so raising the minimum wage would help these workers (Maverick, 2024). Decreasing poverty. Raising the wage could allow a great number of families to move out of poverty because…

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Raising Minimum Wage Research Paper

In 1938, the minimum wage was 25 cents per hour. The minimum wage is not a living wage to raise kids or even really by yourself. Read this essay if you want to read why we should raise the minimum wage amount by at least 2x. First, the minimum wage is no longer a living wage of $7.25 an hour. The minimum wage was never a living wage. Full-time employees who only get paid minimum wage can not buy some of the necessities such as a house, healthcare, and transportation. And if you worked 40 hours a…

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Raising Minimum Wage Research Paper

I support raising the minimum wage because it is a fundamental step towards creating a more equitable society and addressing income inequality. In today's economy, the cost of living continues to rise, while wages for many low-income workers have stagnated. Raising the minimum wage would provide much-needed relief to millions of Americans who struggle to make ends meet. It would allow workers to afford basic necessities such as housing, food, and healthcare, thereby reducing poverty levels and improving…

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Raising Minimum Wage Research Paper

Raising the minimum wage is a contentious issue that warrants careful consideration due to its potential economic ramifications. Advocates for raising the minimum wage argue that it helps lift workers out of poverty and stimulates consumer spending. However, there are compelling reasons to oppose this policy change. Firstly, raising the minimum wage can lead to higher unemployment rates, especially among low-skilled workers. When businesses face increased labor costs, they may respond by cutting…

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Raising Minimum Wage Research Paper

Does raising the minimum wage help society? There are reasons that it does help, but overall, minimum wage does not help the general society. Although, raising the minimum wage would reduce government welfare spending,raise interest for jobs, and the current wage isn't enough to cover everyday needs and housing costs, it would be bad for society because it would increase costs for consumer goods and housing costs, reduce the likelihood of upward mobility, and lastly it would force companies to lay…

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Raising Minimum Wage Research Paper

Raising The Wage Disengage The Pay. Hearing about a minority family where the mother works barely paying by ends meeting, when you realize that they're working a minimum wage and hear more people having the same thing. So many people formed the idea that raising it will help which it does help but, there are point where it can become too high. Federal minimum wage shouldn’t be raised to $15.Because minimum wage is not a living wage. Raising the minimum wage has a bad effect for everyone. It makes…

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Raising Minimum Wage Research Paper

$8.10. The average wage Ohioans are making an hour. Many citizens are dealing with the same low wage of $8.10 in many different states. Wouldn’t it be great if they would just raise it already? Well it’s not that simple, if minimum wage rises everything else will to. The federal minimum wage was introduced in 1938 during the Great Depression under President Franklin D. Roosevelt. It was originally set at $0.25 per hour and has been increased by Congress 22 times since then, most recently in 2009…

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Raising Minimum Wage Research Paper

February 2024 The Pros and Cons of Raising the Minimum Wage. Many Americans struggle to make a household survive with their level of income. Should the government raise the minimum wage? This is a question that you may often hear in the workplace. In order to make a decision on what side you fall on, you have to weigh the pros and cons. These are the pros: improving the standard of living, and helping to close the gender pay gap; and the cons: raising the minimum wage would decrease employment rates…

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Raising Minimum Wage Research Paper

Raising The Minimum Wage The greatest reason why the current minimum wage is not enough for some struggling people is because it does not support a family or keep people out of poverty. The effect on families and children’s well-being would be detrimental if the minimum wage is not raised. The effects of the minimum wage increase on children whose parents are at or near minimum wage will depend on the balance of impacts of employment, family income, and parents' stress (Romich). To the extent that…

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Raising Minimum Wage Research Paper

The history of minimum wage in the United States has been a lopsided division of numbers over the past 89 years. It first started at twenty-five cents by a law that was enacted in 1938, which was when the great depression occurred. There isn’t very much you can do with twenty-five cents in today’s world. You’d have to work nearly an entire day just to buy a single tank of gas. Minimum wage is defined as, the lowest wage that employers may legally pay to workers (ucdavis.edu, 2017). This means…

Words 1376 - Pages 6