The Effects Of Minimum Wage On The United States - 1168 Words

Introduction Research shows if minimum wage was to climb that it would hurt the least skilled and the least experienced people trying to seek a job the most. There are different of opinions people believe in about the positive and negative aspect of minimum wage. Supporters argue that such a boost will shrink poverty without plummeting jobs and that it will boost confidence, increase the normal living, and cut inequality and have businesses to be well-organized. Opponents that are not for minimum wage say it will increase poverty, unemployment and is not good toward businesses. The question about minimum wage and the effects it would cause if it was to rise, remains one of the most commonly studied topics. History of Minimum Wage Minimum wage is the minimum hourly wage an employee can earn from work. President Franklin D. Roosevelt signed the minimum wage law on June 25, 1938. However, the United States has not always had a minimum wage. The United States minimum wage has been in effect since the Great Depression. Before then there was no minimum wage and there certainly were not any legislation to look after workers from development. Many of workers had to work in awful environments such as factories and sweatshops and they were only paid a few pennies a week. The minimum wage started at 0.25 cents per hour and the maximum workweek at 44 hours in 1938. As of today, the federal minimum wage is at $7.25 an hour, part of the Fair Labor Standards Act. Effects on IncreaseShow MoreRelatedMinimum Wage And Its Effect On The United States871 Words   |  4 PagesHouse Bill 230, or the most recent bill introduced in North Carolina to increase minimum wage, was introduced by the House of Representatives on March 12, 2015. After the first version of the Bill was introduced, it was revised once. The bill was introduced because the goal of the state is to provide a minimum wage that allows for a decent and healthy life for its citizens. As the value of the American dollar continues to change, so does the average cost of living. The primary sponsors of the BillRead MoreThe Effect Of Minimum Wage On The Economy Of The United States932 Words   |  4 Pages In a world governed by the rule of currency has a major effect toward the amount an individual owns. The current world economy, labor is required in order to supply services to whomever is willing to buy. The amount of money distributed and earned throughout the economy feeds the nation s GDP, which shows the stability of the overall economy of that nation. There is an imaginary sequence that must be established in an economy in order to balance both labor and revenue to stabilize a country’s economyRead MoreThe Effect Of Minimum Wage On The Economy Of The United States905 Words   |  4 PagesIn a world governed by the rule of currency has major effect toward the amount an individual owns. In the world economy labor is required in order to supply services to whomever is willing to buy. The amount of money distributed and earned throughout the economy feeds the nation s GDP which shows the stability of the overall economy of that nation. There is an imaginary cycle that must be established in an economy in order to balance both labor and revenue in order to stabilize a country economyRead MoreThe Effects Of Increasing Minimum Wage On The United States1853 Words   |  8 Pages The Effects of Increasing Minimum Wage Caroline Mattox Central Virginia Community College Introduction In 1938, the first national minimum wage laws in the United States were passed as part of the Fair Labor Standards Act, which served as â€Å"a floor below wages,† to reduce poverty and to ensure that economic growth is shared across the workforce. Today, many people who work for companies that pay at or near the minimum wage and remain near or below the poverty level rely on governmentRead MoreThe Effects Of Raising Minimum Wage On The United States2322 Words   |  10 PagesThe Effects of Raising Minimum Wage My topic of interest is the effects of raising minimum wage in the U.S. Minimum wage is defined as the lowest wage permitted by law or by special agreement. In 1938, President Roosevelt signed a bill called the Fair Labor Standards Act of 1938, which set the minimum wage at $0.25. Although, overtime inflation devalued the amount of the dollar so it was raised there on. After raising the minimum wage the cost of living would keep going up every year. Also, currentlyRead MoreThe Effects Of Raising Minimum Wage On The United States969 Words   |  4 PagesEffects of Raising Minimum Wage Raising minimum wage has in the recent years become a very controversial and personal issue, and although it is slowly becoming a more popular idea, some people still resist the movement. What people who oppose the adjustment of minimum wage are not considering, is that by raising minimum wage, it will allow low income families or otherwise low income individuals to earn more, in turn, allowing them to spend more money on goods and services. It will also help theRead MoreShould Minimum Wage Be Raised?1062 Words   |  5 Pagesever pressing question regarding Minimum wage. Not many subjects can ignite a controversy as quickly as that of whether or not minimum wage should be raised, or by how much should it be raised or if it should remain the same. What is minimum wage? By definition, minimum wage is the minimum hourly wage an employer can pay an employee for work. (â€Å"MinimumWage.com†) America’s minimum wage was first introduced by President Franklin D. Roosevelt in 1938. That minimum wage was introduced as part of the FairRead MoreThe Effects of a Minimum Wage Law655 Words   |  3 PagesWhat are the Effects of a Minimum Wage Law? A minimum wage is the lowest amount of money per hour that the government of the country assigns employers to pay their employees. The minimum wage is based on an idea that the employers have a responsibility for their employees to live in a reasonable standard of living. The minimum wage laws have directly effect to most industries because of the potential of decreasing their budget. As a result, the minimum wage is still an issue that people researchRead MoreMinimum Wages During 21st Century America1649 Words   |  7 PagesMinimum Wages in 21st Century America In the United States the time has come for the next president to be elected and the political fervor has come early this year with an unconventional, surprisingly interesting primary race. With the coming of a new commander in chief the incessant grilling of the candidates has begun and issues, such as poverty in the United States, are being given the national spot light during debates. The issue of poverty has recently gained traction among citizens as wellRead MoreThe Minimum Wage Debate1637 Words   |  7 PagesThe minimum wage debate brings about a range of reactions from different people. There are those who believe that there shouldn’t even be a minimum wage and that wages should be determined by the markets. On the other hand, we have those who vigorously argue for increasing the wage minimum citing inflation, the poverty line and worker productivity. Regardless, we do have a federal minimum wage rate in the United States at $7.25 per hour, with some states having a hi gher minimum wage than the federal