minimum wage issue essay
Topic
Minimum wage (Raising the minimum wage)
Intro: What the issue is
Body: Why is it a issue (EXPAND IN THE FORM OF EVN THOUGH THERE ARE REGULATION)
-How Minimum wage has changed over the years
-Law (With an example)
-Economy POV (point of view)
How is minimum wage affecting the economy in a positive and negative way
A graph or analytical data representing this
-Ethical Dilemma
-People being affected
Around the world as sub topics
Solutions: Governmental ways of solving the issues
Bussiness way of solving/individual organizations
Conclusion: Relate it with all the ethical values and
03/07
Continuation of
So that everyone is on the right page, we will be focusing on the fact that the minimum wage over the years has increased but it still doesn't help the people, and the situation is worse over time. Hence we would be focusing on the bad effects of the increase of minimum wage over time.
Introduction
The minimum wage provides ample fodder to politicians and economists who debate the pros and cons of this controversial law. The earnings of minimum wage worker are crucial to their families and well-being. In the United States, employers must follow a federal minimum wage, and some states and cities have imposed an even higher minimum wage within their jurisdiction. The first national minimum wage was passed by New Zealand way back in 1894. Followed by Australia, and eventually USA in 1938. The wage has been raised 22 times by 12 different presidents. From 1996 and 1997 minimum wage increases shows that an average minimum wage worker home more than half of his and her family earnings (Link 2). But unfortunately currently there are several problems regarding minimum wage system.
Defined as the lowest hourly, daily or monthly salary that employers may legally pay to workers; the lowest amount where workers may sell their services which in term are known as the market floor for wage. Prior to the idea of the minimum wage permitted by law was proposed and upheld, businesses would exploit ladies and youthful specialists by coming up short on them. Employees now are protected under the law to receive a certain lowest amount for their labor in low payment jobs. But if you look into the present age, a parent working full-time at minimum wage is still not making enough to income to cover basic needs like food, clothing, and shelter. Even working a second job and well over 40-hours a week, it’s mathematically impossible for many minimum wage workers to pay for childcare, clothing, and gas. (Link 1)
According to a study from the Economic Policy Institute (Research link), the bottom 60 percent of workers are earning less than they did 13 years ago. Recent report by the Center for Economic and Policy Research, black Americans who have earned much higher average levels of education over recent decades, have lower chances of earning a living wage today than they had 30 years ago, causing the slow growth of the economy. So what exactly is causing this situation to arise.
Body
This is more than an ethical failure. It has serious costs for taxpayers and business-owners. When big employers — many of whom are turning record profits — fail to pay a living wage, taxpayers are forced to step in and make up the difference by paying for extra Medicaid, housing assistance, and food stamps. Our nation’s small businesses pay the biggest price of all: rock bottom wages mean fewer customers for restaurants, grocery stores, clothing shops, realtors, car dealerships, and so on. When corporations fail to pay, the economy fails to grow.
Fair Labor Standards Amendments
After a year of debate the bill relating to the Fair Labor Standards Amendment (FLSA) was signed by President Franklin D. Roosevelt June 25, 1938. This bill was a result of the Great Depression of 1929; which was a time where unemployment and poverty were at an all time high. The Fair labor Standards Amendment targeted industries where the combined employment represented only about one-fifth of the labor force; so it banned oppressive child labor and set the minimum hourly wage at 25 cents, and the maximum workweek at 44 hours.1
Minimum Wage Law: 29 U.S. Code § 206 - Minimum wage
Works Cited
1 Grossman, Jonathan. "U.S. Department of Labor -- History -- Fair Labor Standards Act of 1938:." U.S. Department of Labor -- History -- Fair Labor Standards Act of 1938:. U.S. Department of Labor, n.d. Web. 02 Apr. 2017.
