Let’s raise the federal minimum wage

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Let’s Raise the Minimum Wage
President Franklin Roosevelt, in 1933, introduced the minimum wage. After being set as $0.25 an hour, it was increased to $7.25 an hour in 2009. There has, however, been a controversy about the federal minimum wage, reiterating that it is too low. There are prevalent difficulties in attempting to raise the minimum wage as some businesses fail to increase their workers’ compensation and salaries. Nonetheless, it is important to consider raising the wage so as to create employment opportunities and lead to economic progress in the nation.
As mentioned earlier, raising the minimum wage delineates positive change during the exploration of a nation’s economic growth. Different sources state facts about the possibility of acquiring about more jobs by increasing the federal minimum wage. In addition to impacting individuals’ financial statuses, alleviating the federal minimum wage also impacts the economic progress of various businesses and nations, as a whole. There are real-life examples ascertaining the relationship between an increased federal minimum wage and growth in employment opportunities (Abbott 59). Businesses and organizations should, therefore, strive to raise their employees’ wage in an attempt to achieve overall economic growth.
As elevating the minimum wage may also reduce employment opportunities, this approach focuses more on ensuring financial growth due to its increased returns.

Increasing the minimum wage is also directly related to an employee’s productivity. When they are offered more compensation, it is inevitable for these individuals to acquire motivation to provide better and efficient labor. There is an unavoidable relationship between minimum federal wage and criminal activities. As mentioned, increasing the minimum wage reduces unemployment opportunities. Often, people engage in criminal activities due to unemployment. It is impossible for individuals to indulge in crime when they have workable sources of income and sustainability.
Ensuring income equality also accentuates productivity and efficiency of employees as their rights are not infringed. While there are some employees that acquire high salaries, others receive an amount that does not sustain them effectively. Raising the minimum wage, therefore, ensures that employees are treated equally apropos of salaries and compensation. The federal minimum wage eradicates any instance of inequalities as experienced in the U.S. Research has classified America as the foremost nation affected by income inequalities. After an increase in the federal minimum wage, it is clear that the gap between highest and lowest paid laborers will decrease.
Moreover, raising the minimum federal wage also has an impact on other forms of inequality. Apart from ascertaining income equality, it also ensures that individuals are not discriminated against based on gender and race. When the minimum wage is raised, it is easier for employers to focus on disfranchised groups. Females, unlike their male counterparts, have been classified as minority workers because of their inferior nature in various societies. People categorize women with domestic and household duties, emphasizing that the corporate world belongs to men. When various nations strive toward achieving equality in incomes, races and gender, it is obvious that an increase in the minimum wage is essential (Neumark & William 11). As housing and accommodation is an important aspect of people’s lives, there is the need for a raised minimum wage. With the current status quo, it is impossible for individuals to afford accommodation. There is a specific amount of money that people should earn so as to create room for acquiring certain types of housing. Without $15.50 per hour, as per the real estate contracts in U.S., it is quite impossible for a person to afford living in a simple one-bedroom house. Higher salaries are, therefore, required if one desires to live in a bigger house. When the minimum wage is raised, it also ensures that individuals do not overwork themselves in an attempt to acquire a certain amount of money (Brenos 42). A raise in the minimum wage will ensure that people only labor for few hours a week, ensuring that they do not work overtime. As the current minimum wage does not suffice, it should be raised so as to sustain a large group of people. An increase in the minimum federal wage especially leads to an increase in the standards of highly paid employees.
It is essential to raise the minimum wage so that there is a decrease in individuals’ dependency on the government. Currently, there are people that depend on governmental assistance due to their lacking minimum wage. The system will reduce its provision of supplemental nutrition or food stamps. Often, these initiatives ensure that low-income earners manage to receive food assistance, despite their poor economic status. In addition to ensuring that individuals are independent, raising the minimum wage reduces governmental spending. As people begin providing for themselves, the government saves huge amounts of finances, leading to progress in the nation’s economic status. Instead of focusing on support programs, therefore, the government begins directing its finances toward other sectors of the nation. An increase in the minimum federal wage leads to individuals’ financial independence as well as reduced government spending.
Raising the minimum federal wage also affects people’s well-being positively. They consume healthy foods, indulge in exercises and strive to keep away from unhealthy and reckless habits such as alcoholism or cigarette smoking. According to the Congressional Record drafted in 2007, leading a healthy lifestyle as a result of higher minimum wages ensures that individuals avoid psychological and mental complications. Medical research has delineated the affiliation of low minimum wage earners with health complications. The inability to afford a balanced diet interferes with one’s well-being, thereby causing psychological challenges. It is important to delve further into the relationship between minimum wage and health. Through this, people realize the significance of an increased minimum wage to prevent unwanted deaths. Poverty, as a societal problem, is eliminated when the minimum wage is increased (Cunningham 51).
When parents and guardians manage to afford school fee, there are lower chances of truancy and school dropouts. In the absence of poverty, individuals are capable of affording basic amenities and needs. There are requisite things such as food, shelter and education that cannot be afforded with low minimum wages. With proper compensation, it is easier for people to acquire basic needs; instead of cutting down on some expenses. By increasing the minimum wages, both individual and national poverty is reduced, thereby, alleviating the living standards of people (Waltman 129).
Even if there are numerous advantages of raising the minimum federal wage, it is important to explore the counterarguments. There are various cons that may interfere with the proper functioning of increased minimum wage. For instance, while an income raise often decreases criminal activities, it also alleviates the same. When businesses and organizations are forced to compensate their employees highly, they often lay off employees. Despite these drawbacks, these pros of increasing the minimum federal wage manage to strike a balance while exploring the liabilities involved in the process (Belman & Paul 185).
Even if most businesses complain about the draining nature related to increasing the federal minimum wage, it is important to consider its impact on people’s living standards. It will assist in the reduction of poverty, creating independent citizens and improving individuals’ well-being. In fact, businesses should consider increasing the minimum federal wage so as to receive better returns. The issue of inequality apropos of income, race and gender are also incorporated in the discussion of increasing the minimum federal wage. When laborers are treated equally, they gain motivation which, therefore, leads to proper execution of their assigned tasks and responsibilities. It is necessary for the employees to feel appreciated by their employers. Such gestures lead to the closeness between both parties, thereby improving the businesses’ efficiency. It is easier for them to share information and bring about innovations in the organization. As government spending is also reduced, raising the minimum federal wage gives it room for improving other areas of a nation. Different governments, therefore, stop disseminating their finances toward support groups for disadvantaged individuals in the society. Evidently, the minimum federal wage should be increased to improve the living standards of human beings. In addition to bringing about dependence in people, it ensures that the government does not over-spend its finances. Raising the minimum federal wage, despite portraying various disadvantages, strives to improve the social, political and economical lives of these human beings.
Works Cited
Abbott, F. Lewis. Statutory Minimum Wage Controls: A Critical Review of Their Effects on Labour Markets, Employment and Incomes. , 2013. Internet resource.
Belman, Dale, and Paul J. Wolfson. What Does the Minimum Wage Do?, 2014. Print. Brenos,
Ralph V. Focus on Poverty. New York: Nova Science Publishers, 2006. Print.
Cunningham, Wendy V. Minimum Wages and Social Policy: Lessons from Developing Countries. Washington, DC: World Bank, 2007. Internet resource.
Neumark, David, and William L. Wascher. Minimum Wages. Cambridge, Mass: MIT Press, 2008. Print..
Waltman, Jerold L. The Politics of the Minimum Wage. Urbana [u.a.: Univ. of Illinois Press, 2000. Print.