Thursday, August 28, 2014

Minimum Wage

Minimum Wage 

"The federal minimum wage provisions are contained in the Fair Labor Standards Act (FLSA). The federal minimum wage is $7.25 per hour effective July 24, 2009."  I believe that $7.25 is not enough for someone to live on. For someone to be able to support themselves or to support a family I do not think that $7.25 is enough to make hourly. "Many states also have minimum wage laws. Some state laws provide greater employee protections; employers must comply with both." If all states have the same minimum wage laws it would be fair to everyone. That way others know what it is like to be making only minimum wage. “38 states introduced minimum wage bills during the 2014 session; 34 states considered increases to the state minimum wage.” Having an increase to minimum wage bills can really have a big impact on society and also on a company. That is because the company might be losing some of their own money if they did that. The only way to make up for the loss would be to make higher sales, make possibly more sales, spend more money, or raise prices. Doing all of that, I believe that is only another way for the company to receive even more loss than they already have. Although raising minimum wage bills may seem like an excellent idea, it also might be not so excellent if it means having to lose money to give to their employers. Minimum wage laws would be helpful to have them be similar in every state, that way it is only fair to everyone. If minimum wage laws are different in one state, that might mean that the minimum wage is better in another state and might cause companies to lose some of their employees due to possible relocation. 

http://www.ncsl.org/research/labor-and-employment/state-minimum-wage-chart.aspx
http://www.dol.gov/whd/minimumwage.htm

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