That would be a start toward restoring dignity and value to low-wage work. We propose raising the minimum wage, in stages, to .50 an hour, an amount that would allow an individual supporting a family of three to live modestly, at about 138% of the federal poverty line.Tags: Basic Component Of An EssayThesis + Organizational CommitmentHow To Solve Mixture Word ProblemsInternet Assigned Number AuthorityA Good Thesis For A Research PaperDe Critique D'Un Article Scientifique
It also takes money out of the pockets of taxpayers rather than from the businesses that benefit from the credit, creating, in effect, a federal subsidy for low-wage employers.
A higher minimum wage would help ensure that the earned income tax credit works more effectively and efficiently.
Some argue that raising the minimum wage offers benefits to those who may not need them. The Economic Policy Institute’s latest analysis shows that most low-wage workers live in low-wage households, and 84% of the workers in low-wage jobs are at least 20 years old.
But, regardless of age or need, anyone who shows up to work and puts in hard hours deserves a wage that keeps him or her out of poverty.
By allowing the minimum wage to remain at a nearly unlivable level, we have deemed certain jobs not worthy enough to meet even our country’s minimum standard of living.
How have we been able to keep wages so low without significant social discord?By using tax revenue and a complicated government bureaucracy to subsidize low-wage employers and supplement minimum-wage salaries.Rather than firms paying a worker’s true cost and customers paying an appropriate price for the services provided by those firms, the government provides workers with “income transfers” to help them meet basic needs.Raising the minimum wage is about reducing inequality, but it is also about restoring the true value of work. Andy Stern is a senior fellow at Columbia University’s Richman Center and former president of the Service Employees International Union.Carl Camden is president and CEO of Kelly Services and co-chairman of the board of trustees of the Committee for Economic Development.The most common objection to raising the minimum wage is that it destroys jobs.But a slew of recent studies have pointed out that although raising the minimum wage does increase earnings and reduce poverty, it has a limited, almost negligible, effect on employment.Currently, an individual with a full-time job at the minimum wage and a family of three to support will fall below the federal poverty line.These workers, despite putting in regular hours, are struggling to provide basic necessities for themselves and their families.If raising the minimum wage leads to productivity gains through investment in automation, so be it.In the meantime, we need to reward American workers for their efforts.