Minimum Wage Case Study

Words: 556

Pages: 3

Open Document

Issue
This memorandum defines and analyzes the need to increase Federal minimum wage. As we look at our budget the funding provided to welfare programs such as Special Needs Assistance Program (SNAP); Department of Housing and Urban Development (HUD); the Supplemental Nutrition Program for Women, Infants, and Children (WIC); the Low Income Home Energy Assistance Program (LIHEAP); the Housing Choice Voucher (HCV) program each year has only increased. One of the major outliers is low income households. If the Federal minimum wage increased the overall outcome would not only assist survivability in a household but ensure the economical sustainment and overall success. An increase in minimum wage would benefit the United States.

Background …show more content…
Implementation of this policy would enhance overall economic stability while reducing or eliminating unnecessary costs associated to public assistant spending.
Several studies in recent years have shown the states that raised minimum wages compared to neighboring states had no effect on unemployment rates. Additionally, the Raise the Wage Act of 2017 would provide over 41 million workers a raise. This allows an increase of 31 billion dollars to lift families out of poverty. In addition, to public assistant spending homelessness has mildly decreased only due to federal funding increasing the program over the last few years.

The Congressional Budget Office estimates (CBO) that low-wage workers as a group will gain more income from the higher wage than they lose from reduced employment. The same can be true for most individuals, as well, if the employment losses are spread broadly over the low-wage population. Proposals like this would eliminate the gradual erosion of the value of the minimum wage and the need for periodic, potentially contentious legislative debates to restore it. Such debates have been a feature of the minimum wage since its

Minimum Wage Case Study

In 1938, President Franklin D. Roosevelt established the minimum wage to protect workers in the labor force. Ever since that time, the minimum wage increased 22 times, under 12 different presidents. As the minimum wage has increased throughout the years, the movement has been gaining momentum; citizens and politicians continuously advocate for a higher minimum wage, or as they would As the minimum wage has increased throughout the years, the movement to continue rising its monetary value has been…

Words 750 - Pages 3

Case Study: Minimum Wage

a family of 3 children. Bobby works for minimum wage as a janitor, Ashley work at a restaurant named Mcdonald’s that doesn’t pay her very much. The money that they make together goes toward rent, food and lights.They would like to go on a family vacation. President Obama wants to increase the amount of money people are paid. He wants to increase from 7.25 to 10.10 an hour. The economic policy estimates an increase of 2.85 in minimum wage would boost wages for about 28 million workers. It would mean…

Words 367 - Pages 2

Mom And Pop Shops: The Negative Effects Of Raising Minimum Wage

I can see and understand many opinions about raising the minimum wage (m.w.). One position being opting to raise the m.w. while adjusting it every year to account for inflation; however, choosing not to raise the m.w. could be beneficial to the Mom and Pop shops around the country. For businesses like these, raising the minimum wage could have negative effects such as causing them to fire loyal, hard working employees simply because they…

Words 312 - Pages 2

Raising Minimum Wage Essay

Although minimum wage will help those who are in financial need, minimum wage should not be raised because it will hurt more Americans than it would help because it will, result in significant job loss, hurt low-skilled workers, and it will raise prices for consumers. Companies will be forced to fire their low-skilled employees because they’re going to be paying more money for someone to work they won’t want inexperienced people working, such as teenagers. More Americans would lose jobs because…

Words 690 - Pages 3

Bus 305 Essay

Price Dynamics By: Mike Cumberland Case Study, Module Two BUS 305: Competitive Analysis and Business Cycles TUI UNIVERSITY Dr. Danielle Babb 30 July, 2010 INTRODUCTION This case study will analyze certain aspects of supply and demand principals as related to economic terms. First, we will discover what the market consequences are of a price floor. We will focus on minimum wage laws and there implementation and economic consequences. Next we will discover…

Words 1430 - Pages 6

Minimum Wage Research Paper

Research Essay Minimum wage Jacob R Pettry Zane State College Minimum Wage As early as 6.00 am in a dark and cold morning of Midwest winter, a few people walking on an icy sidewalk. Under chilling wind, those people walk to a large, old building. Inside the building, the people work for repetitive, backbreaking low waged jobs. In the same day, late at night, you can see similar scene: some people walking out of the building under heavy snowstorm. Like all workers, they feel exhausted after…

Words 1396 - Pages 6

Not raising minimum wage Essay

Not Raising the Minimum Wage: More Food Stamps and Welfare While trying to fight off a bout with the flu, Bob Smith worked his busy sixty hour week at the local hardware store. One day, while riding home on the bus after just receiving his measly paycheck, he wondered how he was going to put food on the table for his four young children and buy new shoes for two of them, who are growing like weeds. He also feels a strong obligation to help his ailing mom pay her medical bills. He could barely…

Words 546 - Pages 3

Essay on Two American Families

don’t play a part in pushing people into foreclosure as in Terri’s case. Since the foreclosure crisis occurred, wages have not improved enough create better conditions for renters or homeowners. According to a study done by the National Alliance to End Homelessness, the average household must earn at least $18.44 an hour to afford a two bedroom apartment and meet basic needs. That’s more than double the current federal minimum wage. Credit Dependence As we saw with the Stanley’s who bought time…

Words 1088 - Pages 5

The Minimum Wage: To Raising Or Not To Raise, By Mike Patton

In the article The Minimum Wage: To Raise or Not to Raise by Mike Patton, he talks about raising the minimum wage of labour, and its detrimental effects on businesses. The article raises some good points about how the increased costs of labour would hurt small businesses, with evidence provided by account of a restaurant owner. Even though the author is right about some of the issues in the article, he makes assumptions that are not entirely correct. Some examples of this are his assuming that most…

Words 554 - Pages 3

Raising The Minimum Wage

Raising the minimum wage might sound nice, but in reality it will not impact society in a positive way. Living on minimum wage is not easy at all. A raise in the minimum wage is just a small measure of help for those who are in need of it most. It is a benefit without hard cost. A raise in the minimum wage seems logical, right? Wrong. Recently California was the first state to approve the $15 minimum wage. They plan to increase the minimum wage $1 every year until it reaches $15. By doing this the…

Words 1366 - Pages 6