Good Afternoon Everyone! I like to take just a few minutes of your time to discuss a important matter in the economy today. Now I want everyone to picture this, a hardworking father whose salary ranged between 40,000 to 50,000 dollars a year. The single father recently was a victim of job cuts and is now laid off. The father begins immediately looking for a new job. But everyone knows in this tough economy it seems impossible. Days, turn into weeks, weeks turn into months and bills begin to pile up. The single father’s decides at this point it is about survival and is willing to take any job at this point. The father sees an ad online for a cashier at the local grocery and know it’s the best job in the world, but the father knows that it is about survival at this point for his family, so he decides’ to take the job to realize that it’s just the minimum pay. This is just one of many working class citizen’s stories right now living in the United States, with job cuts people citizens are willing to take whatever jobs are available, to sustain a suitable life style for them. Today I am going to talk to your briefly about the history of minimum wage, why it should be increased, how it can help the economy , the benefits of increasing minimum wage, what states have recently increased minimum wage, how the government is involved and what we can do as citizens. (Next Slide)
According to the U.S. Department of Labor, minimum wage is the lowest wage permitted by law or by a special agreement. President Roosevelt and members of Congress adopted the Fair Labor Standards Act in 1938. This established federal minimum wage of twenty-five cents an hour. Minimum wage has been raised twenty-two times since then. Currently minimum wage is not based on inflation, consumer price indexes or cost of living. Although it has decreased in value due to it not being raised to keep up with inflation, CPI, or cost of living. Minimum wage should be increased and at some point by adjusted regularly to keep up with inflation and or the cost of living. Raising minimum wage is good for people, businesses, and the economy. More than half of minimum wage earners are under twenty-five years old. Also most minimum wage earners are near or below poverty levels. Raising minimum wage makes people feel good, boosts their morale, and increases their income. People who make minimum wage usually don’t save their money, they spend it. Therefore; a boost in minimum wage means a boost in their spending. If businesses are making more money, there’s more demand, and profits are higher and they hire more employees. Hiring more employees puts more money into the economy and reduces the unemployment rate. All of this directly impacts the economy in a positive manner. The U.S. “Assembly Votes to Increase California’s Hourly Minimum wage to $9.25” reports show that the state’s minimum wage would raise over the next few years: “Under AB 10, the hourly minimum wage would increase to $8.25 this year, $8.75 in 2015 and $9.25 in 2016.” President Obama during 2014’s annual State of the Union address, aggressively addressed the age-old debate of raising the minimum wage. The President has urged legislators to raise the federal minimum wage to $10.10 per hour to fight the ongoing battle of class inequality. President Obama says: “It is time to raise the American people’s wage.” Today all prices are rising, no matter what they are from cars to homes, food and gas. Many people do the job of minimum wage jobs, even some take several different jobs at the same time to maintain financially in their homes. It also can reduce the cost of the government to low-income families. People believe if government raises the minimum wage that people could earn more money. According to the article “The Case for a Higher Minimum Wage,” “An estimated 27.8 million people would earn more money under the Democratic proposal to lift the hourly minimum from $7.25 today to $10.10 by 2016. And most...
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