Raising the minimum wage has been a hot topic in politics lately. The minimum wage was first introduced in 1938 by President Franklin Delano Roosevelt. In 2009, the minimum wage was raised to $7.25 an hour. “29 states plus the District of Columbia (DC) have a minimum wage higher than the federal minimum wage” (ProCon.org).
By raising the minimum wage would help the economy by stimulating growth and activity. The Economic Policy Institute, wants to raise the minimum wage from $7.25 to $10.10. This increase would put $22.1 billion into the economy and create 85,000 new jobs in a three year period. Families working minimum wage jobs can barely make enough to get by with the current wage, by raising the minimum wage people will have more money to buy things and put money into the economy.
A problem with raising the minimum wage is that more jobs will be lost than gained. Businesses will have to lay off employees, to be financially stable with the raise in pay. “Congressional Budget Office projected that a minimum wage increase from $7.25 to $10.10 would result in a loss of 500,000 jobs” (ProCon.org).
In Utah, the minimum wage is $7.25. Mayor Ralph Becker proposed that the minimum wage be raised to $10.10. “It’ll cost taxpayers $80,000 to help more than 150 city employees make the pay jump” ( Good4Utah). Mayor Becker expects that by raising the wage, that it will help keep city employees above the poverty line. The current $7.25 wage, “It’s not enough for someone to live on and have housing and meet their basic needs,” said Becker. Currently, the proposal is waiting to be approved by the city council.
Raise the Minimum Wage? by Suzanna is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.