The Ongoing Debate About the $15 Minimum Wage

Nicholas Lockwood

 

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Introduction:

Throughout the years of 2020 to 2021, numerous families received stimulus checks, also known as direct cash from the government during the pandemic due to the present economic crisis. These stimulus checks were part of large stimulus packages passed by Congress and enacted by the President. Those packages included various benefits from going to unemployment insurance to direct loans for small businesses struggling during the pandemic. Both recent stimulus packages have been passed under the Trump Administration, and now Biden wants to make his campaign promises heard about supplying more relief for working Americans. This includes his promise for the $15 minimum wage being enacted. Consequently, this has led to a debate about the practicality of the $15 minimum wage and further discussion about being into the stimulus packages. 

Arguments For the $15 Minimum Wage:

To begin with, arguments for the $15 minimum wage would be about the presence of the $7.25 minimum wage and how it is unlivable. This means that the bump with the minimum wage would provide relief for workers, and lift workers out the poverty rate. According to the Congressional Budget Office, an increase in the minimum wage would project a better standard of living by at least 17 million people, but also influence 1.3 million to get out of the poverty line. This would be providing a commentary on the situation related to the minimum wage because the increase in payments would benefit people’s income which would therefore benefit their standard of living. 

An additional argument would be the support for the morale of workers. The more the workers would have a beneficial relationship with their employee by getting paid a higher wage would help the company and productivity would also increase. This means that there would be less havoc related to costs of exchanging or losing employees because higher morale in the workplace would mean that workers will be inclined to stay at that business. 

Arguments Against the Minimum Wage Increase:

  Due to businesses having to pay their employees more, a common concern would be the focus on inflation. Due to the concern about businesses having to increase their costs, it has led to concern about the minimum wage being increased. Additionally, many people against the minimum wage believe that the intention of the minimum wage is to be for much younger workers rather than full time employees at older ages. 

Conclusion:

In conclusion, there are various arguments for the increase of the minimum wage. The minimum wage can be supported due to the belief about supporting workers out of poverty while also supporting inflation, causing various debates.