Free Essays on Minimum Wage

The Minimum-Wage Controversy When receiving paychecks, most employees will agree that one can never be paid enough, however, their employers may disagree with that statement and believe that they are getting paid far greater than they are entitled to. Thus creating a conflict between minimum wages. Minimum wage is the least amount of money that an employer may pay their employees. The federal minimum wage that is experienced by many members of the United States, currently is at $5.15, and is under debate as to whether or not it should be raised an additional dollar per hour, to make the minimum wage $6.15 (1). As a result of dissatisfaction with the minimum wage, debates whether or not the wage should be lifted to please more workers are currently taking place. The process to finding the perfect minimum wage to please both employee and employer are still under way, and has been an important controversial issue for many decades. For many, a raise in minimum wage would be fantastic, ma inly employees. For others such as employers, they look down upon the idea of increasing the salary for their workers. The process for increasing the minimum wage would start by paying fifty cents more on January 1st of 2001, and adding the other fifty cents exactly one year later on January 1st of 2002 (1). â€Å"Through this proposal, it would allow for business tax breaks worth $76 billion dollars over ten years, which is down from $122.7 billion in an earlier House version of the bill† (1). As unemployment has reached a recent 30-year low, some employers are looking to change this fact around by hiring in greater numbers (3). But as employers may in fact do try to change this unemployment trend, this also means more money will be spent on trying to match the minimum wage. If they should try and match the minimum wage, the employer will be spending more money just to have more workers that he may not need. Say the minimum wage stayed the same for a while, ... Free Essays on Minimum Wage Free Essays on Minimum Wage It’s Time to Raise the Minimum Wage The current minimum wage does not allow a full-time worker supporting a two-person family to reach the federal poverty line. However, increasing the minimum wage is not a simple undertaking. There are many concerns and questions to address. Business owners are concerned about the expense of raising the minimum wage. Many legislators believe the majority of the minimum wage workforce is teenagers earning money for luxuries. This report will discuss the history of the minimum wage, exceptions to the regulation, demographics of the minimum wage workforce, real value of the minimum wage, and economic feasibility of raising the minimum wage. Based on my research, it is my recommendation that the minimum wage should be raised. The Beginning of the Minimum Wage: The Fair Labor Standards Act The Fair Labor Standards Act (FLSA) of 1938 set the work week and overtime guidelines, child labor restrictions, and the first minimum wage. Opponents of the act resented the governmental mandates on private business operations. Organized labor unions were concerned that the minimum wage would become a maximum rather than a beginning point. The proponents of the action wished to improve the living conditions of the working poor and create new jobs by shortening hours and setting overtime standards (Cong. Dig., 2000). The federal minimum wage is currently $5.15 per hour. Exceptions to the Minimum Wage Regulation Employers are allowed to pay only 50 percent of the minimum wage to employees who regularly receive $30 per month in tips. The employee must receive at least the minimum wage when the hourly pay and tips are combined. Several states wage/hour laws remove this exception from the law (Cong. Dig, 2000). This exception shifts the burden to pay employees from the employers, to the customers and employees themselves. Earning tips is difficult in businesses with fewer customers, low... Free Essays on Minimum Wage The Minimum-Wage Controversy When receiving paychecks, most employees will agree that one can never be paid enough, however, their employers may disagree with that statement and believe that they are getting paid far greater than they are entitled to. Thus creating a conflict between minimum wages. Minimum wage is the least amount of money that an employer may pay their employees. The federal minimum wage that is experienced by many members of the United States, currently is at $5.15, and is under debate as to whether or not it should be raised an additional dollar per hour, to make the minimum wage $6.15 (1). As a result of dissatisfaction with the minimum wage, debates whether or not the wage should be lifted to please more workers are currently taking place. The process to finding the perfect minimum wage to please both employee and employer are still under way, and has been an important controversial issue for many decades. For many, a raise in minimum wage would be fantastic, ma inly employees. For others such as employers, they look down upon the idea of increasing the salary for their workers. The process for increasing the minimum wage would start by paying fifty cents more on January 1st of 2001, and adding the other fifty cents exactly one year later on January 1st of 2002 (1). â€Å"Through this proposal, it would allow for business tax breaks worth $76 billion dollars over ten years, which is down from $122.7 billion in an earlier House version of the bill† (1). As unemployment has reached a recent 30-year low, some employers are looking to change this fact around by hiring in greater numbers (3). But as employers may in fact do try to change this unemployment trend, this also means more money will be spent on trying to match the minimum wage. If they should try and match the minimum wage, the employer will be spending more money just to have more workers that he may not need. Say the minimum wage stayed the same for a while, ...