Minimum wage in the United States is impossible to love off on. $7.25 isn't enough to pay our bills, buy groceries (even if you eat like a bird), keep warm air in our homes, and have fitting clothes on our backs. This is assuming if you live in a state that pays federal minimum wage. The federal minimum wage hasn't gone up since 2009. Two years prior to that, 70 cents were added every year. If this trend continued, our federal minimum wage right now would be $10.05, keeping on top of the continuing inflation.
Minimum wage wouldn't exactly be bad for business. Take Costco for instance. They pay $11.00-$21.00 an hour for regular staff while providing good health insurance, sells things in bulk for cheaper prices than Walmart, CEOs managing to make 400k a year, and they still keep the warehouse packed with people. The employees still work the typical 40 hour week so that also debunks the myth that hours would have to be cut.
A minimum wage increase wouldn't cause the economy to tank. For example, Australia. They raised the minimum wage to keep the poverty level low and to cover the expensive shipping costs. Australia was the only country that avoided the recession of 2007-09. They did experience peaking unemployment, but that was resolved after a few months in 2009.
Since a higher minimum wage does increase the prices of merchandise (by like a few cents if it increased to ten dollars according to Sen. Elizabeth Warren), it increases are will to spend since we have higher wages. The more we spend, the more we boost our economy.
Higher minimum wage wouldn't kill off jobs. Australia's minimum is $16.00 USD and unemployment there is 5%. I remember Michele Bachmann saying that a lower minimum wage encourages employers to hire more people since they don't have to pay much. But if you think about it, you're making them work their butts off for unlivable wages. To me, that's a bit like slavery.
Although I believe the minimum wage should increase, the government should take baby steps instead of going all out at once. Next year, the minimum wage should be eight dollars and add 70 more cents year after year.
Australia, Germany, Canada, and others have higher minimum wages than the US. Is business going bad? Hell no! If it works in other countries we can do it. FYI Costco's minimum wage is higher than the national average and they're doing just fine as well. Besides the minimum wage back then adjusted to inflation would've been around $20. So if America can handle it back then we can handle it now.
If the minimum wage was the same as it was in the '70s, with inflation it would be around $21, which is three times what it is in many states. A mere $7.25 an hour is not enough to live on and everyone deserves a livable wage. If they do raise it, there would quite possibly be less of a need for programs like SNAP and food stamps because everyone is getting paid a more reasonable amount.
Minimum wage is barely enough to buy a doughnut around here let alone live on it and sooner or later people are going to start riots every where because there broke and then the world might explode but that would have never happened if you had just raised the pay
As the cost of living rises, so too should the wages of working people. By pegging the minimum wage to inflation, real wages will never shrink, and the economy would be able to grow. If the minimum wage continutes to be frozen year after year families will begin to go below the bread line and will not be able to send kids to college/pay for schooling and healthcare. Surely the over-arching policy of the government should be to protect the rights of the American people, not big business.
If a specific individual didn't have enough money to pay for a high school education and worked at a fast food restaurant, but he needs to pay for his ever day needs. So obviously he needs to save money if he wants to go to high school, he would need to save lots of money and it would take an overly increased period of time. However if the minimum wage was raised, he wouldn't have to wait as long for a high school education.
The United States shouldn't raise the minimum wage. Instead, the government should abolish income taxes and have a national sales tax. Raising the minimum wage only hinders businesses as they have to pay more to employees. Instead of raising wages, make it more productive for workers to have more hours or better jobs in general.
Why wouldn't walmart make up for an extra 2.2 billion dollars payed out an hour? I understand it is tough to make a living on minimum wage but if you don't want it to be tough then don't have minimum job skills. Educate yourself for your future and don't rely on our government to make sure you are living ok. Minimum wage jobs are not meant to be long term career choices. Move up in life this country makes that possible especially for low income families. I am going to a community college for free so that I can not live off min wage forever. Sure min wage gets a one dollar raise but what about the people that worked hard to get a raise above min wage before? They certainly don't get a min wage raise. They are left behind and then forced to pay the higher cost of living when they worked hard to move up in life. Create your own future and stop trying to get government handouts in life.
As stated below by other members, the minimum wage only stunts the growth of an economy and leads to outsourcing jobs. A company has a few choices when they are faced to pay more. Let go a number of their workers/resources or increase the price of goods. Raising the minimum wage wont be putting more money in peoples hands if it will be matched by the risen prices of goods and services.
The minimum wage is a direct inflation. While the people have more money on paper, the purchasing power of that money declines more than the "increases" The minimum wage is a forcing of the wage above its market value, and the market responds by price increases, to squeeze a few more pennies of the minimum wagers. Also, the average minimum wager usually advances in the company relatively quickly, and is typically a student or in career transition and too proud to go on welfare. The minimum wage is a slippery slope, as when the amount of money one has to spends, so do the prices of what they buy. At the end of that slippery slope is a socialist utopia, where everything is plentiful... Unless you're a member of the former struggling masses, in which case, it's taken a turn for the worse (read: Soviet Russia). Then we get to economy wages, in which people are way overpaid by the employer, as to attract the cream of the crop. Those wages are not typical. Therefore, they shouldn't use them as the standard.
These Jobs function as an introduction into the workforce. There is no incentive to work at this level, unless you're a teenager, or you've hit a tough-spot in your life and need the job to keep you afloat (and it will barely do so, even for the most thrifty person). Nobody should or could settle for this position as a permanent option of labor. If you're stubborn, and decide to settle in anyways....I can't bother to feel sad for you. I feel sad for your kids....Because their parents have the ambition of a gold-fish....But I feel no sorrow for your underachieving.....Behind.
Currently 36 percent of the states have a minimum wage higher than the federal minimum wage. When that percent exceeds 50 percent, then and only then should the feds look at a raise. In this manner a bottom to top methodology would supersede a top down process. This would allow individual local governments to adopt wage floors reflecting local needs and conditions. Also a study by MIT did not indicate a great need for an increase.
Have you ever thought that raising minimum wage could be dangerous? The United States of America is in over 17$ Trillion in debt. This number is likely to increase even more.
I would just like to pose a thought: IF we were to raise minimum wages, to what amount would you propose to be raised and WHERE would the US get that money?
People should be paid based on their worth. If the market says your job is worth one dollar then it is worth one dollar. Why make an artificial number that will only stunt economic growth? The problem with raising minimum wage is one, employment rate will rise, or two ,the cost of the product will rie in order to make up for the artificially inflated cost of labor. High minimum wage only encourages outsourcing where people are willing to work for much less.