Raising Minimum Wage
- Submitted by: marae90
- Views: 228
- Category: Other
- Date Submitted: 01/06/2015 10:29 AM
- Pages: 5
- Report this Essay
Raising Minimum Wage
Raising minimum wage decreases government funding and increases disposable income because our country is facing tough economic conditions and inflation is imminent. Since the secondary job market, which consists of lower paying jobs and minimum wages, is over represented by minorities, this increase in the minimum wage will attempt to specifically help these groups of people. If the minimum wage is increased to equal the current living wage, this will narrow the income inequality gap and will increase the quality of life for those living on minimum wage salaries. The resulting impact on the overall economy would be demonstrably positive. The movement to increases minimum wage has been active in states across the country.
While soaring incomes at the top of the income distribution have played a large role in these trends (Mishel & Sabadish, 2012), so too has the failure to ensure that lower-income workers earn a fair wage. Advocates of these wage hikes argue that the increases will help low-income families escape poverty. The raise of minimum wage would be a significant improvement for millions of people. A $10.10 an hour wage would lift nearly 6 million workers out of poverty. The current wage of $7.25 an hour is not enough to keep a parent who works full time, year round above the federal poverty line (Covert, 2013). Since the secondary job market, which consists of lower paying jobs and minimum wages, is over represented by minorities, this increase in the minimum wage will attempt to specifically help these groups of people. Increasing the minimum wage would substantially benefit both minority and non-minority workers (Hall & Copper, 2012).
Also, if the minimum wage was increased to a level at which families could sustain themselves, fewer people may end up needing government assistance for housing, food, or health care (Benefits of Raising Minimum Wage, 2013). Living on minimum wage monthly expenditures don’t come even close to...
Raising minimum wage decreases government funding and increases disposable income because our country is facing tough economic conditions and inflation is imminent. Since the secondary job market, which consists of lower paying jobs and minimum wages, is over represented by minorities, this increase in the minimum wage will attempt to specifically help these groups of people. If the minimum wage is increased to equal the current living wage, this will narrow the income inequality gap and will increase the quality of life for those living on minimum wage salaries. The resulting impact on the overall economy would be demonstrably positive. The movement to increases minimum wage has been active in states across the country.
While soaring incomes at the top of the income distribution have played a large role in these trends (Mishel & Sabadish, 2012), so too has the failure to ensure that lower-income workers earn a fair wage. Advocates of these wage hikes argue that the increases will help low-income families escape poverty. The raise of minimum wage would be a significant improvement for millions of people. A $10.10 an hour wage would lift nearly 6 million workers out of poverty. The current wage of $7.25 an hour is not enough to keep a parent who works full time, year round above the federal poverty line (Covert, 2013). Since the secondary job market, which consists of lower paying jobs and minimum wages, is over represented by minorities, this increase in the minimum wage will attempt to specifically help these groups of people. Increasing the minimum wage would substantially benefit both minority and non-minority workers (Hall & Copper, 2012).
Also, if the minimum wage was increased to a level at which families could sustain themselves, fewer people may end up needing government assistance for housing, food, or health care (Benefits of Raising Minimum Wage, 2013). Living on minimum wage monthly expenditures don’t come even close to...