Raising The Minimum Wage Research Paper
Raising the Minimum Wage
COMM/215
May 05, 2014
Linda Camp
Raising the Minimum Wage
The Great Recession that began in late 2007 caused many downfalls such as real estate collapse, financial crisis, and major loss of jobs. This recession lasted until 2009 which to this day researchers say that the after math of the recession has yet to decease. The economy has not yet gone back to the way it was before the recession started. Did you know that during the Great Recession Australia was not fazed by this horrible time? There are many reasons why Australia did not faze this troublesome time, but one main reason why is because right before the Great Recession they had raised their minimum wage to $13.47 in 2006. Then they raised it …show more content…
Raising the minimum wage will allow low-income workers get off the poverty line. The Covert (2014) website says, that according to an economist known as Arindrajit Dube raising the federal minimum wage to $10.10 will take an average of 4.6 million people out of poverty. The poverty line for a family of two is $14,570 per year and if you take the current minimum wage of $7.25 low-income workers will make $15,080 per year which is just $510.00 away from being on the poverty line, ("Minimum-Wage.org", 2011). If the minimum wage is raised to $10.10 like President Obama said he would like the minimum wage to increase to in the next couple of year’s workers will be making $20,200 per year. Making the minimum wage $10.10 would benefit low-income workers by providing them with enough money to be taken off government benefits and charities such as welfare and food stamps. Workers will have enough money to pay bills and feed their families if the minimum wage is …show more content…
There will be more jobs because of the higher consumer demands. According to an analytic study of the Fair Minimum Wage Act of 2013, $30 billion in economic activity will be created and 140,000 new full-time jobs will be generated, ("Raise the Minimum Wage Rebuilding an Economy That Works for All of Us.", n.d). It is also said that 52% of small business owners see eye to eye when it comes to raising the minimum wage because it provides workers with more money to shop at local businesses which can help create more jobs, ("Small Business Majority",
COMM/215
May 05, 2014
Linda Camp
Raising the Minimum Wage
The Great Recession that began in late 2007 caused many downfalls such as real estate collapse, financial crisis, and major loss of jobs. This recession lasted until 2009 which to this day researchers say that the after math of the recession has yet to decease. The economy has not yet gone back to the way it was before the recession started. Did you know that during the Great Recession Australia was not fazed by this horrible time? There are many reasons why Australia did not faze this troublesome time, but one main reason why is because right before the Great Recession they had raised their minimum wage to $13.47 in 2006. Then they raised it …show more content…
Raising the minimum wage will allow low-income workers get off the poverty line. The Covert (2014) website says, that according to an economist known as Arindrajit Dube raising the federal minimum wage to $10.10 will take an average of 4.6 million people out of poverty. The poverty line for a family of two is $14,570 per year and if you take the current minimum wage of $7.25 low-income workers will make $15,080 per year which is just $510.00 away from being on the poverty line, ("Minimum-Wage.org", 2011). If the minimum wage is raised to $10.10 like President Obama said he would like the minimum wage to increase to in the next couple of year’s workers will be making $20,200 per year. Making the minimum wage $10.10 would benefit low-income workers by providing them with enough money to be taken off government benefits and charities such as welfare and food stamps. Workers will have enough money to pay bills and feed their families if the minimum wage is …show more content…
There will be more jobs because of the higher consumer demands. According to an analytic study of the Fair Minimum Wage Act of 2013, $30 billion in economic activity will be created and 140,000 new full-time jobs will be generated, ("Raise the Minimum Wage Rebuilding an Economy That Works for All of Us.", n.d). It is also said that 52% of small business owners see eye to eye when it comes to raising the minimum wage because it provides workers with more money to shop at local businesses which can help create more jobs, ("Small Business Majority",