The Need for a $15 Minimum Wage in the U.S.: Addressing Living Wages, Pay Gaps, and Economic Challenges
In two pages (not including cover or reference pages), write an Essay that addresses your views on low wage workers need for a $15.00 minimum wage in the US, including making an argument for or against the $15.00 minimum wage. Students are expected to cite sources to support arguments and format citations and reference list using APA (American Psychological Association -sixth edition).
As you think about your argument for or against the $15.00 minimum wage, consider some of the following questions:
- What is a living wage? How much is it today? Is it really a living wage?
- Why do you think caused the pay gap between men and women and how can we close the gap?
- What are some of the challenges associated with organizing for increasing minimum wage to $15.00 an hour? Are some of the challenges specific to any low wage groups (i.e., women, young adults, elderly, or people disability, etc.) or industries (i.e., retail, restaurant, or domestic workers, etc.)
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Introduction
Atkinson et al. (2017) argue that the federal minimum hourly wage is $7.25 as of 2009, affecting the workers and their families. Low wages hurt all categories of workers adhesively and more so women of color among other black workers. The norm of low wages among women of color is profoundly linked to ongoing sexism and racism. Additional factors are rooted in chattel historical incidences of slavery, with workers of color being shunt in underpaying jobs (Burton, 2020). A raise in federal minimum hourly wage by $15 would benefit employees and their families. While paying attention to the concept of a living wage and what causes the primary gaps between men and women in economic sectors, this essay fully discusses why workers need a $15 minimum wage and some of the challenges associated with the latter.
A living wage should be high enough to help workers maintain a normal standard of living. It is, therefore, socially noted and accepted income level providing an individual with enough coverage for basic needs, which are healthcare, shelter, food, and child services. And, that would only be fulfilled if the federals raise the minimum wage per hour from $7.25 to $15 (Wilshaw, 2017). In empirical findings provided by the Economic Policy Institute, paying workers $15 is efficient to help them meet their basic needs in due course. With today’s straining living conditions and standards, it is vital to consider the workers’ productivity level and the amount of wage paid to fulfill their needs.
In the United States of America, women of color are largely affected by low wages outcomes instead of men. One of the major concerns raised is linked to structural racism and sexism (Burton, 2020). Structural racism impacts one’s employment and income level. Structural racism operates heavily on a societal level with social-constructed norms allows men to use their cultural set powers to determines the economic systems acts (Callaway & Sant’Anna, 2018). The dominant group, through structural racism, takes critical resources for both genders; among them are wages and employment.
Indeed, there are vital benefits of raising workers’ minimum wage by $15. The latter, for instance, is critical in assisting reverse decades of growing pay inequalities. The decades would be reversed between workers getting close to the median wages and underpaid workers who include women of color. It will reduce at large the earning gaps between the black and white. Generally, 31% of African-Americans and 26% of Latinos would benefit from the raised minimum wage (Atkinson et al., 2017). They argue, a majority of which will include women of color who have attended higher learning institutions of age 25-54. Also, a rise in the minimum wage will encourage other cities and states to increase their minimum wage. Workers other than getting stable paychecks, the states would also experience reduced poverty along their regions.
In conclusion, despite the advantages of raising the minimum hourly wage by $15, such as assisting reverse decades of growing pay inequalities also raises certain disadvantages. For instance, raising the minimum wage would ensure businesses increase their prices, resulting in inflation. Also, economic policy institutes argue that increasing minimum wage results in wages and salaries increasing in the board hence facilitating a substantial increase in the firm’s operating expenses. Besides, an increase in workers means a rise in living costs negating the advantages earned by employees. Order Similar Paper
References
Atkinson, A. B., Leventi, C., Nolan, B., Sutherland, H., & Tasseva, I. (2017). Reducing poverty and inequality through tax-benefit reform and the minimum wage: the UK as a case study. The Journal of Economic Inequality, 15(4), 303-323.
Burton, D. R. (2020). A Guide to Labor and Employment Law Reforms. Heritage Foundation Backgrounder, (3535), 2020-10.
Callaway, B., & Sant’Anna, P. H. (2018). Difference-in-differences with multiple time periods and an application on the minimum wage and employment. arXiv preprint arXiv:1803.09015, 1-47.
Wilshaw, R. (2017). Companies Around the World Must Act Now to Raise Minimum Wage. The Right to a Living Wage, 179.
