Is it time to raise the minimum wage?
Yes. Minimum wage can and should be used as a tool for lifting the poorest of Americans out of poverty, stimulating the economy, and rewarding hard working citizens by giving them the opportunity to achieve the American Dream. The minimum wage has not been raised in almost three years, since July of 2009. In that time, inflation has decreased the value of the dollar by 5.5%. This means that to simply adjust for inflation, the minimum wage should be raised to $7.65. Congress has failed to make adjustments, which has caused full-time minimum wage workers that are part of a three person family unit to drop well below the poverty line, and struggle to meet standard living conditions because of the rising cost of goods and services.
One may argue that minimum wage decreases unemployment, but the purpose of a minimum wage is not increase or decrease employment, but rather to redistribute earnings to under-paid workers. Raising the minimum wage would not only allow struggling families to pull themselves out of poverty, but also put more money in the pockets of the working class. Currently, the minimum wage does not allow the typical family or individual to meet living costs, save money for their children’s education or retirement, and spend money on nonessential items. Increasing the minimum wage would let those living in poverty meet the needs of their family by providing them with shelter, food, and water. It would also allow them to save money for retirement and college tuition. Further, with an increased minimum wage, workers would have more money to spend at local small businesses, as well as corporations, and boost the American economy. ~Ethan K. | No. This student didn't not complete his assignment.
~Tom K. |