Minimum wage essay samples

Minimum wage is a guaranteed minimum amount of money that people earn every hour in order to make a living. This topic is exceptionally important to me, considering I am working with a minimum wage salary at a medical clinic. Researching about this topic really defined and showed me how everything in the working field works and why the minimum wage is important. Both human rights and equality are key concepts that are linked to minimum wage. Human rights are rights to which everyone is entitled to. Everyone and anyone have the right to earn a minimum wage salary. In Quebec Minimum wage is $12.50, therefor everyone is entitled to earn this amount of money and no less. If earned less, it’s considered an abuse of human rights. Equality plays a key role when it comes to minimum wage, since people may be treated differently depending on their sex or even race. No matter who you are, you are equal to everyone. Meaning everyone gets equal pay, depending on their job.

As life in America gets more important I believe that minimum wage deserves to be raised so that people are able to live more comfortably than otherwise. I chose this topic because I believe that minimum wage is important. The minimum wage was created to stabilize the economy post-depression and to protect workers in the labor force. It was designed to create a living standard at a minimum, leading to protecting the well-being of employees. Now that everything in America is becoming more expensive, the minimum wage is becoming a bigger issue in our society. Minimum relates to my life because a majority of the jobs I am able to get at my age, and with my education иуштп pretty slim and they are all minimum wage-paying jobs. It does not allow me to have access to many things, like an apartment or being able to own my own car. Everything is extremely expensive, but having a minimum wage that is so low, makes things unattainable for me.

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The federal minimum wage is currently $7.25, which is not enough to cover any bills unless the employee works over forty hours. The young adults of the United States are struggling to keep up with the change of the way the economy works now. With insurance and rent going up, multiple adults are beginning to become homeless due to not being able to pay for the bills. The minimum wage in America needs to be changed for the betterment of today’s incoming adults as they are trying to pay for any rent in order to live on their own as well as insurance but there are consequences to the raise such higher consumer profits and lower youth employment.

Issues with Paying Rent

Everyone in America has to move out of their relatives’ houses one day and with minimum wage being theoretically raised, it allows them to focus on making enough to supporting themselves and live on their own. By raising the amount of money they are getting paid by the hour, they can pay their rent on time just so they can live without the fear of losing their home. Young adults are struggling to move out, but if minimum wage was raised to the point where they can afford to keep a small apartment, the housing market may go down to be a little more affordable. According to an article by The Christian Century, the “…price of a house has quadrupled since 1980 and the median rent has doubled…”. Due to low wages, people are being forced to get roommates so they are able to cover their bills. The rent nowadays is extremely hard to keep up with and many people can not afford to pay on time or just can not afford it in general since the current minimum wage is only $7.25.

Rent is quite difficult to manage for individuals who only get paid minimum wage. These people are typically working multiple jobs in order to keep food on the table for their growing family, due to low wages. The minimum wage for these families makes it tough to survive on their own and can even drive families farther from each other due to awful hours. It also requires budgets to be created and loans to be taken out just to keep families’ homes. Making minimum wage often results in families going deeper into debt, which is even more complicated to get out of. Not only do these families need to keep up with rent in order to keep their homes, they also need to have more money in order to maintain their insurance and it is not easy being able to do that with the way minimum wage is at the current state.

Paying Insurance Bills

Insurance is another bill that can be difficult to pay while on minimum wage. The minimum wage does not give workers enough money to pay for the multiple insurances needed in order to maintain a normal and protected life. With better paychecks from higher wages, people would be able to pay for their car and health insurance. The cost to maintain multiple insurances in The United States has come to the point where there are people who do not have health insurance and that causes doctor visits to become expensive and would require multiple payments. According to an article from The Economist, “the share of hours worked at some minimum wage has stayed constant, at around 5%”. In the state of Louisiana, in order to obtain a driver’s license, the incoming driver must present proof of insurance and new driver insurance is a bit on the expensive side. Even with college student discounts (depending on the insurance), the discount would not help that much with the cost. There are also other insurances that can get expensive such as health and dental. There is also home insurance, which is a whole different story.

Homeowners’ or rental insurance is another expanse that may not get paid on time due to low wages. However, with the minimum wage being only seven dollars and twenty-five cents, it is very difficult to pay it on time or at all. Low-income families tend to struggle to pay for the insurance they need since low-income families often have to prioritize bills, not paying the ones that are the least important to their immediate health or survival. This means that there may not be money for insurance payments after food and electric bills are paid. Even with multiple jobs that pay little to nothing, they still have issues paying for the bills that are needed in order to be taken care of. Most of these families are immigrants, promised a clean slate when they came to the States, but instead, they are not able to pay for everything they need in life in order to sustain a change in scenery. The cost to maintain multiple insurances in The United States has come to the point where there are those diving deeper into debt. With an opportunity to raise the minimum wage, there are consequences to follow suit.

Issues Associated with Increasing Minimum Wage 

The minimum wage graph is illustrating how the minimum wage has barely increased over the last several years, but the GDP has drastically increased. That makes it very hard for people living off minimum wage to be able to survive in America today, which leads them to become poor.

A problem with increasing the minimum wage would be that it could increase poverty. According to ProCon ‘The higher wages are, the higher costs of production are. The higher costs of production are, the higher prices are. The higher prices are, the smaller the quantities of goods and services demanded and the number of workers employed in producing them” (Con 2). By increasing the minimum wage, it increases everything associated with employment, money, demand, etc.

One of the main issues with raising the wage is higher consumer profits. There would be an increase in restaurant menu prices just in order to afford the paychecks. Prices at other businesses where they typically get paid the federal minimum wage would end up going up as well just so their employees can get a better paycheck. According to an article by Crain’s New York Business, there has been “a decline of 3.4%, according to an analysis by the Independent Budget Office, which used seasonally adjusted numbers for the fourth quartes”. Also, with raising the minimum wage, there would be an increase in labor rates. This would cause employers to offer fewer hours in order to pay for their payroll. This would cause issues for employees as they would need more hours for bills. The raise would evidently cause higher payroll taxes for the owners/bosses. This is due to more money being needed in order to pay each employee accordingly. Even with this small negative issue, it does not change the positives about raising wages just so people can survive. There is another potential problem with this raise. Higher cost to businesses is not the only problem with increased minimum wage, but lower youth employment may also happen.

Another issue with raising the federal minimum wage is lower youth employment. Younger people start working as soon as they can as they want to start saving money for their new incoming life after they are done with school. The problem is jobs may start cutting younger people from their work in order to save money for a bit older employee. According to an article written by Pete Du Pont, this “…proposal to increase the minimum wage from $4.25 to $5.15 would cost 500,000 jobs- mostly the jobs of teenagers, minorities, and part-time workers”. This would cause more teenagers or young adults to become homeless as some may end up getting kicked out for not being able to get a job. This would cause an epidemic for the housing market as they may not be able to afford a home or apartment. The employers may try to go for more experienced adults in place of the inexperienced young adult. This would cause some issues for future resumes.

Minimum Wage Helps Cut Down Welfare Costs  

A reason to increase the minimum wage would be that it could decrease the amount of money the government spends on welfare. According to ProCon “The Center for American Progress reported in 2014 that raising the federal minimum wage by 6% to $10.10 would reduce spending on the Supplemental Nutrition Assistance Program (SNAP, formerly known as food stamps) by 6% or $4.6 billion. [9] The Economic Policy Institute determined that by increasing the minimum wage to $10.10, more than 1.7 million Americans would no longer be dependent on government assistance programs” (Pro 3). This is saying that if the minimum wage was increased, the low-income would be increased, which then leads to the government not needing to spend so much money on income-support programs, which then leads to that money being spent on something else or something better.

Conclusion: What Needs to Be Fixed

In conclusion, the Minimum wage has its good and bad factors. The Minimum wage stimulates the economic growth of a country by increasing consumption. Balancing the minimum wage levels may help to stimulate economic growth and the welfare of life. It’s proven that minimum wage does affect how you as a citizen live in society. Within society, there are the ones who want change for the better, which can mean different things in different mindsets. Personally, raising the minimum wage would be beneficial for me since I am paid the bare minimum. Raising it to 15 dollars per hour can be life-changing for many people, myself included.

The federal minimum wage has been an issue for The United States for many decades as more and more people are starting to become independent in order to prepare for the real world. The wage should be raised to sustain a life outside of the parents’ homes. While they may not charge for rent, they could still require their children to get a job to help the family. Despite some consequences, it is still needed as everything in the real world is starting to get very expensive. The insurance needed alone is hundreds of dollars that minimum wage employees can not afford. Does it need to be fixed? It definitely does so others can survive.

FAQ about Minimum Wage

Why Equal Pay Helps Society More Than Minimum Wage Increase
...The idea of Capitalism is not for the many, but for the few. This gives some of the wealthy a way to justified their actions through laundering and extortion. An equal pay can help equalize for both sexes and all races. This decision helps increase s...
Why the Minimum Wage Should’nt be Increased
...All in all, while maybe appealing at first, an increase in the minimum wage will not have the desired effect and help no one. The process will even make things a lot worse for everyone as a whole. There are far better ways to better the wellness of o...
Why Minimum Wage is Not the Option
...In conclusion, raising the minimum wage has some benefits but, the consequences far outway the benefits. For instance it would only benefit those already working, and even those people might be fired because small businesses couldn’t afford to have...
Why Raising the Federal Minimum Wage is Beneficial?
...Most importantly there should be a minimum wage increase because the majority of the American people are for it. According to a 2015 poll done by the Hart Research Associates, 75% of Americans are in support of a federal minimum wage rate increase an...
What Are the Pros and Cons of Raising the Minimum Wage?
...After playing the believing game, my thinking about the topic has changed. Although it is good to increase the minimum wage, it is also advisable to check the cons associated with increasing the minimum wage and weigh the cons versus the pros in orde...
When minimum wage is higher then the equilibrium wage
...Trend extrapolation and Consensus methods have different signifiers of calculating with their ain advantages and disadvantages based on the historical informations stored by different organic structures. It does non give accurate consequence but to t...
Why the Minimum Wage Should Be Raised?
...Great Britain., Great Britain., & Great Britain. (2011). National minimum wage: Low Pay Commission report 2011. London: Stationery Office. Jones, P., & Farness, J. (2002). College writing skills. San Diego, Calif: Collegiate Press. Levin-Wald...
Why should we increase the minimum wage?
...The Economic Policy Institute further concluded that "By increasing workers' take-home pay, families gain both financial security and an increased ability to purchase goods and services, thus creating jobs for other Americans.” A higher minimum wa...
Why Organisations Need to Collect HR Data?
...My findings also enabled me to identify that at the beginning of 2013 especially February, the organisation hired the lowest number of contractors. This was due to financial budget constraints, there was a temporary band in place and management were ...

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