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Essay / Research Paper Abstract
This 5 page paper presents arguments on both sides of the issue of raising the minimum wage, as well as reaction to them and potential policy recommendations. Bibliography lists 5 sources.
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5 pages (~225 words per page)
File: D0_HVRsMnWg.rtf
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Unformatted sample text from the term paper:
policy recommendations. Pro and Con According to a report issued last April, "83% of the American public favors raising the federal minimum wage to $7.15 per hour" (Woodward, 2007). It
appears that there is bipartisan support for the measure, perhaps because its getting more and more difficult to ignore the link between poverty and the federal wage guidelines: "A person
who works 40 hours every week and earns the $5.15 federal minimum wage would earn only $206 after a weeks work, and $10,712 after a year, barely ahead of the
official US poverty threshold which was $9827 in 2004" (Woodward, 2007). There is also the fact that the minimum wage hasnt increased since 1997, while executive pay has exploded in
that same time period: in 1975, "CEOs earned only 78 times the minimum wage earners of their day. But todays average Chief Executive earns 821 times what a minimum wage
worker earns" (Woodward, 2007). Its not difficult to see why a CEO wouldnt be able to understand his workers concerns-he would never face the same difficulties. Its also a common
misconception that minimum wage workers are a bunch of losers, when that is far from the truth. "Two thirds are women (65.6%), 73% are white, and 70.2% of them have
a high school diploma" (Woodward, 2007). Its also interesting to note that Wal-Mart, the largest retail corporation in the world, is claiming to support a raise in the minimum wage,
since it would help Wal-Marts customers and workers, many of whom work for minimum wage (Woodward, 2007). However, Wal-Marts claims ring false, since the company is "not backing any specific
legislation, is not lobbying Congress on the issue, and is not pressuring the US Chamber of Commerce (to which it belongs) to revise its opposition to an increase" (Woodward, 2007).
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