The Importance Of Raising Minimum Wage
Raise the Minimum Wage
There has been a lot of discussion regarding the increase of minimum wage across the nation. Currently, the wage is set at a low amount of $7.25 an hour. In today’s society it is almost impossible to live on only an income of $7.25 an hour especially for those who are raising a family. In President Obama’s 2013 State of the Union Address, the president proposed to raise the minimum wage to 9 dollars by the year 2015 (Luhby). A higher minimum wage would help people living in poverty by providing better means of financial stability, and it would also improve the chances of those people trying to escape poverty stricken living conditions. Another bonus to increasing the minimum wage is that it could potentially …show more content…
Studies suggest that an extravagant amount of workers earn either the current minimum wage of $7.25 an hour or less. As a matter of fact, in 2012 about 3.6 million workers fell into this category, which makes up about 4.7% of all hourly paid workers (Minimum Wage Workers). Even though the percentage of workers who fit into this category may seem slow, in reality it is an alarming rate especially since minorities and young people make up most of the population. As illustrated by the National Employment Law Project, 50% of minimum wage earners are 25 years of age and younger and another 5% of workers were of African American, Hispanic, Latino descent (NELP). That means that nearly 55% of workers who make the federal minimum wage are considered to be a minority across the nation. Another interesting statistic, reported by the Bureau of Labor Statistics, is that about three-fifths of minimum wage workers are employed in some type of service related industry (Minimum Wage Workers). For instance, a lot of food servers, waiters and waitresses, only earn a minimum wage salary of $7.25 or less. However, in these professions, it is expected that employees receive tips from the served consumers. Then after combining the two entities, employees should earn a salary that is either equal to or more than the current minimum wage, …show more content…
In 2012 during his State of the Union address, President Barack Obama announced, “A minimum wage worker who works full time year round does not make enough to be considered above the federal poverty line” (Cooper). According to Dr. Sherry Kasper, an economics professor at Maryville College, the federal poverty line for one single individual is around $11,500 a year (Kasper). Since President Obama stated that full time minimum wage workers do not make enough money to meet the requirements to be above the federal poverty line, there are tons of people who make less than $11,500 annually and struggle financially to support themselves, let alone enough to support a family. Therefore, because the minimum wage so low, America has millions of people living in
There has been a lot of discussion regarding the increase of minimum wage across the nation. Currently, the wage is set at a low amount of $7.25 an hour. In today’s society it is almost impossible to live on only an income of $7.25 an hour especially for those who are raising a family. In President Obama’s 2013 State of the Union Address, the president proposed to raise the minimum wage to 9 dollars by the year 2015 (Luhby). A higher minimum wage would help people living in poverty by providing better means of financial stability, and it would also improve the chances of those people trying to escape poverty stricken living conditions. Another bonus to increasing the minimum wage is that it could potentially …show more content…
Studies suggest that an extravagant amount of workers earn either the current minimum wage of $7.25 an hour or less. As a matter of fact, in 2012 about 3.6 million workers fell into this category, which makes up about 4.7% of all hourly paid workers (Minimum Wage Workers). Even though the percentage of workers who fit into this category may seem slow, in reality it is an alarming rate especially since minorities and young people make up most of the population. As illustrated by the National Employment Law Project, 50% of minimum wage earners are 25 years of age and younger and another 5% of workers were of African American, Hispanic, Latino descent (NELP). That means that nearly 55% of workers who make the federal minimum wage are considered to be a minority across the nation. Another interesting statistic, reported by the Bureau of Labor Statistics, is that about three-fifths of minimum wage workers are employed in some type of service related industry (Minimum Wage Workers). For instance, a lot of food servers, waiters and waitresses, only earn a minimum wage salary of $7.25 or less. However, in these professions, it is expected that employees receive tips from the served consumers. Then after combining the two entities, employees should earn a salary that is either equal to or more than the current minimum wage, …show more content…
In 2012 during his State of the Union address, President Barack Obama announced, “A minimum wage worker who works full time year round does not make enough to be considered above the federal poverty line” (Cooper). According to Dr. Sherry Kasper, an economics professor at Maryville College, the federal poverty line for one single individual is around $11,500 a year (Kasper). Since President Obama stated that full time minimum wage workers do not make enough money to meet the requirements to be above the federal poverty line, there are tons of people who make less than $11,500 annually and struggle financially to support themselves, let alone enough to support a family. Therefore, because the minimum wage so low, America has millions of people living in