Minimum Wage Essay Example for Free

negligible Wage leavenThe lower limit net income is the lowest sum up at which a player can be played. in that respect she token(prenominal) occupy justnesss pegged to hourly, daily and even monthly rates, although U. S. law is pegged to an hourly enlist. Also, a stripped-down net income law usu all toldy involves it illegal for a person to sell his labor for less than the token(prenominal) wage rate The general purpose of the stripped wage is to guarantee a living wage to all workers who work a standard period of time, whatever that might be. In theory, any labor who whole shebang 40 houses a week on minimum wage should be at or higher up the poverty level line.However, the minimum wage has non kept up pace with the inflation in the United States and the cost of living increases more than the wage increases that be given and that way behind the standards Minimum wage laws were first started in Australia and New Zealand in the 1890s. The first minimum wage to be law was in Massachusetts in the 1912 but it only applied to children and women. The federal minimum wage was set up in 1938 by the Fair Labor Standards Act. Initially set at 25 cents an hour, the wage has been embossed periodically to reflect changes in inflation and productivity.That the mimic wages often involve protracted policy-making battles, Did you know that one in five Americans worked in the poverty levels by the guide lines of the federal government, capital of Minnesota Oysterman, an economist at the M. I. T. Sloan School of Management wrote in a recent New York Times editorial. He says the current minimum wage is lower, in inflation-adjusted terms, than it was in 1968. Currently, 6 percent of all hourly workers make no more than the federal minimum wage of $7. 25, TIME. com In theory it sounds like a true(p) idea to give everybody a raise, but at what expense? By raising minimum wage it was supposed to make it where people would be able to raise themselves and touch on off of government assistance. Well, they did get a raise and are still on government assist. So my question is what do you hazard they should make to be able to totally take care of themselves and their family? Do you think raising minimum wage is the answer? Do you realize that the stage businesses must be able to meet a payroll department?When you raise minimum wage it causes a business to have to raise their prices if all possible which in turns makes their customer base upset, which in turn could cause layoff and less businesses hiring, which in turn means the business will not be properly taken care of because you cannot submit to to staff it properly because you cannot hand to pay the higher wages. I own a restaurant which hires people 16 years and older. straight off when you hire a person in and they start off earning top wages and there is no bottom, then there is no reason from them to try and do better because you cannot afford to give them raises.I feel l ike the government is wanting business to be the new welfare system and we cannot afford to be. Please stop this and let the business decide how much an employee is worth. Minimum wage was created to be a starting point in people lives not a living. Our government doesnt want good compensable line of businesss so they are trying to make minimum wage work for the people and it will not Restaurants and some other businesses that pay minimum wage are for a reason. We do not charge a lot for our products, therefore, we cannot afford to pay a lot for our help and you do not need a college education to work at a minimum wage job.Stop this before there are even fewer jobs. Right now I have to raise my prices due to Ohio raising their minimum wage again. Let me decide who gets the raise not the government Twenty percent of those living on the minimum wage the last time it was raised in 1991 were in poverty, and an additional 13% were go on poverty. In 1993, the President expanded the E arned Income Tax Credit (EITC), which raised income for 15 million families, serving many on the job(p) families move above the poverty line. Yet to complete the goal of insuring that full-time working families are out of poverty, we need to raise the minimum wage.Recent analysis by the Economic indemnity Institute and preliminary work by the Department of Health and Human Services suggests that 300,000 people would be lifted out of poverty if the minimum wage was raised to $5. 15 per hour. This figure includes 100,000 children who are before long living in poverty. But the debate has been muddied by several myths that anti-minimum wage forces repeat at every opportunity. figment The only Americans working for the minimum wage are teenagers. macrocosm 63 percent of minimum-wage workers are adults age 20 or over. (Source Bureau of Labor Statistics) Myth Minimum wage workers dont support families.Reality The last time the federal minimum wage was increased, the average minimum w age worker brought home 51 percent of his or her familys weekly earnings. (Source Analysis of Census Bureaus Current Population cogitation by Professors David Card and Alan Krueger) Myth Raising the minimum wage hurts the poor by causing job loss. Reality Nearly 10 million working Americans would get a pay raise if the minimum wage is increased to $5. l5 per hour. As Nobel Prize-winning economist Robert Solow said, This evidence of job loss is atonic. And the fact that the evidence is weak suggests that the impact on jobs is small. (Source New York Times, January 12, 1995)Myth The only assume showing that raising the minimum wage does not cost jobs was a study funded by the U. S. Labor Department. Reality One major study conducted in 1992 and financed by Princeton University and the University of Wisconsin was published by two Princeton University economists. One of those economists later joined the Labor Department. (Source working capital Post, January 11, 1995) Furthermore, a similar conclusion has been reached by at least ten other independent studies. Myth Raising the minimum wage will have a negligible impact on peoples lives.Reality A 90-cent per hour increase in the minimum wage means an additional $l,800 for a minimum wage earner who works full-time, year cycle as much as the average family spends on groceries in more than 7 months. (Source Bureau of Labor Statistics) Myth Increasing the minimum wage has eer been a bitter, partisan issue that only Democrats have supported. Reality In 1989, the last time the minimum wage was increased, the House of Representatives vote in favor of the the current poverty line for a family of 4 is $15,600.A family of 4 with one worker earning $4. 5 an hour and working full-time year round ($8,500) would receive a tax credit of $3,400 under the 1996 provisions of the EITC, will collect food stamps worth $3,5l6, and will pay $650 in payroll taxes. This family would end up $834 below the poverty line. On the other hand, for a family of 4 with one worker earning $l0,300 (a full-time year round worker at $5. l5 per hour), the EITC would tolerate the maximum tax credit ($3,560), food stamps would provide $2,876, and they would pay $788 in payroll taxes. The increase in the minimum wage along with EITC and food stamps would lift this family out of poverty.Overtime Federal law requires that employees who are not exempt receive overtime pay for any time worked beyond forty hours in any one week. The rate of overtime pay is one and one-half times the employees regular rate of pay, and must be paid in wages, not in goods or time off. A calendar week is defined as one period of 168 hours, or seven consecutive twenty-four hour periods. The workweek may start at any time, or on any day, as long as the starting day and time are applied consistently. Employees who are eligible for overtime pay may not waive their right to receive overtime