Econ 102 Research Paper
"The Minimum-Wage Controversy"
The Minimum-Wage Controversy When receiving paychecks, most employees will agree that one can never be paid enough, however, their employers may disagree with that statement and believe that they are getting paid far greater than they are entitled to. Thus creating a conflict between minimum wages. Minimum wage is the least amount of money that an employer may pay their employees. The federal minimum wage that is experienced by many members of the United States, currently is at $5.15, and is under debate as to whether or not it should be raised an additional dollar per hour, to make the minimum wage $6.15 (1). As a result of dissatisfaction with the minimum wage, debates whether or not the wage should be lifted to please more workers are currently taking place. The process to finding the perfect minimum wage to please both employee and employer are still under way, and has been an important controversial issue for many decades. For many, a raise in minimum wage would be fantastic, mainly employees. For others such as employers, they look down upon the idea of increasing the salary for their workers. The process for increasing the minimum wage would start by paying fifty cents more on January 1st of 2001, and adding the other fifty cents exactly one year later on January 1st of 2002 (1). "Through this proposal, it would allow for business tax breaks worth $76 billion dollars over ten years, which is down from $122.7 billion in an earlier House version of the bill" (1). As unemployment has reached a recent 30-year low, some employers are looking to change this fact around by hiring in greater numbers (3). But as employers may in fact do try to change this unemployment trend, this also means more money will be spent on trying to match the minimum wage. If they should try and match the minimum wage, the employer will be spending more money just to have more workers that he may not need. Say the minimum wage...
Cited: 1. The Associated Press. "Deal possible in Congress on minimum wage increase."Aug. 29, 2000.
www.cnn.com/2000/ALL POLITICS/ stories/minimumwage.ap/index.html
2. Keizer, Gregg. "GOP Proposes Minimum Wage Deal." CNBC. March 19, 1999. www.cnbc.com/commentary/commentary_full_story_sbc.asp?storyid=22279
3. Reaves, Jessica~So Congress wants to raise the minimum wage. Who cares? CNN. March10, 2000.
4. Small Buisness Depot~A Minimum Wage Compromise? ~9/7/00~CNBC~ www.cnbc.com/commentary/commentary_full_story_sbc.asp?html
5. Bando, Doug~Let state 's set their own minimum wage~NCPA~ 10/20/99~ www.NCPA.org/hotline/wagehtl.html
6. Kennedy, Edward~Minimum wgae facts-Talking points~Coalation on human needs~11/5/99~ www.CHN.org/minimumwage/minwageissuebrief.html
Please join StudyMode to read the full document