Should There Be A Minimum Wage - 3645 Words

Andre’ Moss-Hayes Mr. Hance Senior English 05 December 2014 Should There Be A Minimum Wage? In today’s times, there is a lot of debate going on about the wages of workers all around the nation. The major question is: Should there be a minimum wage salary that a person can earn? Securing employment is not easy to do in the U.S. at this time, and the rate of compensation is low. When people are paid little to nothing to work an eight hour shift, they get angry because it does not provide enough for them and their families. People who are paid minimum wage fall into this category because minimum wage does not pay enough to provide for basic needs of the average family. The result of this is that people earning minimum wage tend to†¦show more content†¦These both tend to describe certain aspects of wages and salaries as they relate to the benefits extended to employees. Minimum wage came about in 1938, during World War II under President Franklin Roosevelt, and is currently going on. Minimum wage was intended to help the poor, to protect them so that workers could not be cheated by employers who expect too long hours for too little pay; however, in recent years, a lot of people tried to help raise the minimum wage to ten dollars an hour to make it easier for workers in these jobs to make a living. Opponents of the minimum wage increase assert that raising minimum wage would also increase the cost of living for everyone, having an overall negative effect on the economy. There are, however, those who argue that a higher minimum wage would only benefit teen workers. So, would the cost of living go up due to the raise of minimum wage, or would it just benefit teens? In fact the living cost would go up due to a never ending cycle of a wage-price spiral, which says that rising wages increase disposable income, thus raising the demand for goods, and causing prices to rise. Rising prices cause demand for higher wages, which leads to higher production costs and further upward pressure on prices. So, even with a raise in minimum wage, people would still complain for more money due to the wage price spiral, and how everything will increase. However, it would not just benefit teens because the