Essay On Federal Minimum Wage

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The Federal Minimum Wage
What does The Federal Minimum Wage mean to you? The Federal Minimum wage is the lowest wage permitted by The United States of America. No matter where you live in the U.S, no business is allowed to pay you under the Federal Minimum Wage. The current Federal Minimum Wage is $7.25 an hour. In the past few years, there have been opposing arguments on the Federal Minimum Wage. Some people say it should be lowered, some say it should be kept the same, and some say it should be raised. Most people in America, including me, feel like the Federal Minimum Wage should be raised. The Federal Minimum wage should be raised because it will boost the economy, help working families, and help businesses thrive.
Whenever the Federal Minimum Wage is increased, our economy does better. Professional Economists have found that whenever people get paid more, they spend more, which stimulates our economy. According to John Wihbey, “a substantial increase in the federal minimum wage is likely to have broad effects, with some studies predicting that it …show more content…
Most people would say that is a bad thing, and it would cause the businesses to have to raise their prices for their products. That is false, and it has been proven by professional economists. According to Ross Eisenbrey, “two thirds of surveyed businesses were in favor of raising the minimum wage” (2). If businesses pay their employees more, then they get taxed less. Also, it takes more money from the top of the business like from CEO’s who make 300% more than employees, and gives it to the bottom of the business, making it a more functional and thriving business. Not only that, but if employees are paid more, they will work harder, which benefits the business as well. It also gives businesses a better appeal to consumers if the consumers think that the business is a fair and effective business to its

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