The Federal minimum wage needs to be raised from the current $7.25 an hour to a higher amount because it will help businesses‚ our minimum wage is low by many international standards‚ and the current minimum wage is not the living wage. Raising the minimum wage will help business‚ not hurt them. According to the CEPR from June 2014‚ the 13 states who raised their minimum wage saw faster job growth compared to the national average‚ opposed to fears of a shortage of work if this is enforced that the
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federal minimum wage was introduced in 1938 under President Franklin Delano Roosevelt during the Great Depression. It was set at a quarter‚ which is about $4.11 in modern America today. The minimum wage has been increased twenty-two times by Congress; the most recent increase was in 2009 when it changed from $6.55 to $7.25. There are twenty-nine states‚ including Washington‚ D.C that has a minimum wage higher than the federal minimum wage. Around 2‚561‚000 workers earn the federal minimum wage or below
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Economic Effects of Raising the Minimum Wage According to the United States Department of Labor‚ on June 25‚ 1938‚ the Fair Labor Standards Act was signed by President Franklin D. Roosevelt‚ setting the federal minimum wage to twenty-five cents per hour. Since then‚ the federal minimum wage has increased twenty-eight times‚ and currently sits at seven dollars and twenty-five cents per hour. Despite these raises‚ the general public shows dissatisfaction with the current wage‚ and the discussion about
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Along with additional information‚ the best wat to gage the true effect of the minimum wage would be to examine Card and Krueger’s actual experiment results. Unfortunately‚ we cannot rule out‚ based on that individual case study that the effects were in truth larger or smaller than what was examined in the case of New Jersey raising their minimum wage in 1992(). Given the problems surrounding Card and Krueger’s minimum wage research‚ Dube‚ Lester and Reich replicated Card and Krueger’s New Jersey-Pennsylvania
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“We should raise the minimum wage so that no one who works full time will have to live in poverty‚” once quoted by former president Barack Obama. Raising the federal minimum wage would increase economic activity and spur job growth. We should increase the minimum wage because it would reduce poverty. Increasing minimum wage would also increase worker productivity and reduce employee turnover. We need to increase minimum wage because a higher minimum wage would reduce government welfare spending.
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Raising the minimum wage affects all workers young and old. You might might think that receiving more money is a good thing but it actually negatively affects the economy and its jobs. Raising the minimum wage will eliminate jobs because the employer has to pay the workers more so they will hire less and might replace them with computers or robots. Oxford University researchers Carl Benedikt Frey‚ PhD‚ and Michael A. Osborne‚ DPhil‚ stated in a 2013 study that "robots are already performing many
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raising their minimum wage to $11 an hour starting next month in order to compete and fill low wage jobs in a tighter labor market. As Hooker wrote in his book:” Integrity is the result of being consistent with who we are”. On my point of view‚ Target is just following the market fluctuation. Even before raising their minimum wage to $10 it was because the leader on the market Walmart said that it would increase wages for most of its U.S workers. In an addition‚ Target promise a wage of $15 an hour
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America faces the issue of whether the minimum wage should be raised; three-fourths of Americans support an increase‚ while the other third does not support it or has no opinion. In 2007‚ Congress modified the Fair Labor Standards Act of 1938 with the Fair Minimum Wage Act of 2007. This set in motion a sequence of raises in the minimum wage from $5.15 an hour to $5.85 to $6.55 and a final raise in 2009 to $7.25 an hour (“History of Changes to the Minimum Wage Law”). At the time‚ numerous workers
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Minimum Wage In the United State U.S. Minimum Wage A minimum wage is the lowest hourly‚ daily‚ or monthly wage that employers may legally pay to employees or workers. The debate over minimum wage in the United States has been ongoing for over 100 years. It is a hot topic in labor‚ human interest‚ and especially in economics. Is the minimum wage too low? Is it too high? Should we have one at all? Does having a minimum legal wage help those who it is intended to help‚ or does it actually
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The issue of minimum wage in the United States of America has been turmoil in the recent past and up to this date. Minimum wage is the lowest amount permitted by the law or by a particular agreement such as that of the labor union. The concept of the minimum wage was established in 1938 by the federal government. The law was called the Fair Labor Standards Act and it also indicated the initial time that employers were legally required to pay his employees overtime pay for certain jobs. During that
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