Question

I'm writing a paper for my Economics class and I want your opinions on the topic. Do you think Congress should raise the minimum wage?

Answer 1

I thought this would get a lot of attention lol... I didn't even finish telling my parents the topic and they stated their opinions

Answer 2

Personally, I think so. People living on minimum wage...can't live on it, really. :3

Answer 3

It'd be good for those just starting out in the workforce to earn something of a living wage, that's the idea anyway. Some are against it (like many restaurant businesses), however, citing reasons such as placing an unnecessary burden on them. Others for it say it will help improve the standard of life for those that can't get anything else and aid the economy by strengthening the spending potential of minimum wage workers.

It's not the first time minimum wage was altered across the board, either, when it was previously raised under G.W. Bush's administration in 2007 with the Fair Minimum Wage Act.

Answer 4

True, they're working on raising it again, from what I've researched Obama wants it at $10.10 which would be awesome.. but Congress doesn't agree .-.

Answer 5

Yeah, Congress is split on the issue. There's a restaurant coalition that's lobbying heavily against the bill, especially in the House. Conservatives want more tax credits instead while their opponents want to put more money in workers' pockets, so it's been going back and forth.

Answer 6

What I love is that there are "Restaurant Coalitions" lobbying against this.... and most of the people who work at restaurants don't make minimum wage; by which I mean waiters and waitresses. They make less than minimum wage, legally I might add, because employers and government take into consideration tips.

I myself would love if minimum wage were raised to $10.10. It would allow me some more freedom and relieve some financial stress on me. College is a killer on the pocket book. I can see both sides, price of merchandise would naturally go up, and the price of many other things would go up. But, not enough that the raise would make little difference.

Those are my incoherent and rambling thoughts on the subject. Take them for what you will :)

Answer 7

That's the main arguments I'm finding, the price of living keep rising, so shouldn't the money we work for too?

I'd love it if MW was that high, but do the cons out weight the pros in this situation..

Honestly I don't think they do, raising MW would just make things better in my opinion, I'd like to have more money saved up for my non existent car and up coming college expenses etc..

Answer 8

No, most definitively not our currency is already losing its value, so if we were to raise the minimum wage we would only be inflating our economy. Therefore the few extra dollars you just got on that paycheck would be worth the same amount as before because, when an economy is inflated it will drive prices of all goods and services up.

Answer 9

That would be great if the minimum wage was $10.10! If you worked a 6-hour day every day for 4 work weeks, you would get $1212.00 every month!(assuming that you were paid $10.10 for every hour you worked.)