March 17, 2017
While some people believe that the minimum wage should stay the same, others believe if it were raised, but limited, it would increase consumer spending, improve financial status of the lower class, and improve worker morale.
What is Minimum Wage?
The minimum wage is an hourly wage rate set by law for people to have a minimum standard of living. The first minimum wage rate law was enacted in New Zealand in 1894, but the first minimum wage rage in the US was set to $0.25 an hour in 1938. The minimum wage has been raised a total of 22 times, including the last raise in 2009, which set the minimum wage to $7.25. Massachusetts was actually the first state to set a minimum wage in the United States, followed by many other states, but not all of them. There are some states that set their own minimum wage and do not follow the federal minimum wage law, there are even 5 states that do not have minimum wage laws.
Consumer Spending Increase?
People would have more money to spend if the minimum wage was raised, therefore allowing them to buy more products and services that they otherwise could not. That being said, more businesses would strive in the economy due to consumers spending a little more money. A recent study estimated that 16.5 million minimum-wage workers would benefit from a $10 minimum wage increase. Millions of families and people would climb above the poverty line and live in the middle or upper class, instead of living in the lower class. There are too many people and families in poverty and raising the minimum wage would reduce that number.
How's Your Financial Status?
Financial status is key when it comes to what class you or your family is a part of. Most families and people aim to be in upper and middle class, but some of those families can not achieve that because of their financial status. Having good paying jobs is most important when you are talking about financial status, that is why raising the minimum wage would be beneficial to a lot of families and people in America. Minimum wage jobs make it hard for families to be well off financially, so raise the minimum wage to help those families be better off financially.
Why is Worker Morale Important?
Worker morale is important if you want to make your workers happy. So raise the minimum want to prevent them from leaving, low-wage workers are not happy with the $7.25 an hour they are getting. If minimum wage workers got paid more, it could potentially boost worker morale. Worker morale is the job satisfaction, outlook, and feelings an employee has within a workplace setting. So in other words, how happy your are with your job and how you feel while at your job.
Should The Minimum Wage Be Raised?(Rebuttal)
The minimum wage does not need to be raised because if it were raised then it would lead to businesses laying off workers, and therefore causing more businesses to shut down from lack of employment. Also benefits like vacations, employee parking, and gym memberships could be cut. It would not be good for the economy if many businesses start shutting down, businesses help the economy strive. Also if it were raised, it would lead to reduced desire for career advancement, saying if you were making $10.00 an hour, you are less inclined to go to college and seek out a career. Lastly it could lead businesses to raising their prices in order to make money due to loss of money from paying minimum wage employees more money.
The Minimum Wage's Future
In order to raise many people and families out of poverty and lift them into the middle and upper class, the minimum wage needs to be raised. The minimum wage should be raised to reduce poverty, improve financial status of the poor, and improve worker morale. The people of the United States need to make sure future generation families do not go into poverty and are not a part of the lower class, but are a part of the middle and upper classes.