An Examination of Minimum Wage and Its Economical Impact

An Examination of Minimum Wage and Its Economical Impact The concept of minimum wage is a complex economic program pitting an employee's benefit of a living wage against an employer's hardship of forced policy. In this critical analysis of the minimum wage, each side presents an argument for or against the program. This examination provides an insight into whether minimum wage serves as a social and economic safety net or a welfare crutch with crippling effects for those affected. The presentation of facts and figures explores wage requirements for employment of adults versus minors, as well as, displacement of workers based on rising wages. An increasing deficit between the minimum wage and the national poverty level will also be covered with a final conclusion of the team's stance on the subject of minimum wage.ContentsAbstract2Contents3An Examination of Minimum Wage and Its Economical Impact4Introduction4History of Minimum Wage4The Pro Minimum Wage Argument6The Anti Minimum Wage Argument9Summary11Conclusion12Reference page14An Examinati on of Minimum Wage and Its Economical Impact TitleIntroductionThe United States economy and workforce faces a tough and challenging dilemma dealing with the minimum wage issue.Map of U.S. Minimum Wage lawsMinimum wage has been, and will continue to be, a topic of discussion amongst America's workforce. Should Congress be held responsible to pass an act raising minimum wage throughout the United States? Should a minimum wage be a state-led initiative? Should minimum wage be abolished and never raised? This paper will answer the questions stated above and critically analyze the pros and cons of the minimum wage structure in the United States. This paper will allow the reader to establish a clear and precise picture of the "pro minimum wage stance", by providing facts and opinions concerning the economic and social benefits of maintaining and raising minimum wage. This paper will also identify facts and opinions concerning the "con minimum wage stance", focusing on the negative impact on...