What are the pros and cons of raising the minimum wage

Assignment Help Business Law and Ethics

Reference no: EM133314274

Case: The United States Congress had a great debate regarding the touchy question of whether the previous minimum wage ($6.55 per hour in 2008) was fair and adequate. There were pros and cons to both sides of the argument. Effective July 24, 2009, the federal minimum wage increased to $7.25 per hour. This change is the third and final federal minimum wage increase due to an amendment to the FLSA, though some advocates say the minimum wage should be raised to a "livable wage" of $13-$15/hr. The impact of raising the mandatory hourly rate has a tremendous impact both on employees' income and employers' costs. After reading up on this controversy, form your own opinion on whether it was a good idea to raise the US minimum wage and how it should be handled going forward.

Question 1: What are the pros and cons of raising the minimum wage?

Question 2: How do you think the American economy has changed as a result of the increase in minimum wage?

Question 3: Going forward, should the minimum wage be adjusted? How so and why?

Reference no: EM133314274

Questions Cloud

Determine if a request for euthanasia is genuine : How can a physician determine if a request for euthanasia is genuine and not just a cry for help?Should physicians be the ones to inform patients about human

Relationship between equity ownership composition and CSR : What is the relationship between equity ownership composition and CSR, according to empirical findings in Lee (2009) and Faller et al (2018)

Draft boilerplate cost provision for insertion into contract : Using the Assignment of Franchise Agreement in Appendix C as a guide, draft a boilerplate costs provision for insertion into future contracts

Who lack health care because they can not afford it : What should be done, if anything, for the millions of Americans who lack health care because they can't afford it? In terms of the Ethical Frameworks Inventory

What are the pros and cons of raising the minimum wage : What are the pros and cons of raising the minimum wage and How do you think the American economy has changed as a result of the increase in minimum wage

Systems development life cycle : Provide three case studies of how the Systems Development Life Cycle might be made more secure (SDLC).

What is TensorFlow : What is TensorFlow and how can it assist in the development of an IoT solution?

Warranty under which joe is likely to sue sam : Sam confessed to having stolen the watch from ABC Jewelers. Please name and define the warranty under which Joe is likely to sue Sam

Explain what a functionalism theorist would say : Consider an Artificial Intelligent system such as a sophisticated android. Could an android have a "mind"? Explain what a Functionalism theorist would say.

User Account

All Pages