Provide a 3 pages analysis while answering the following question: The Minimum Wage Should Not Be Abolished. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. This discussion examines the benefits of raising the minimum wage not only for those workers who would gain monetarily but to employers as well and ultimately, the economy as a whole. Currently, the minimum wage stands at $7.25 which was increased from $5.85 per hour in July of 2009. This modest increase put minimum wage earners near the poverty line, about $16,000 for a family of three (Poverty Guidelines, 2006). The minimum wage had not been raised for seven years previous, the longest time span since the law first went into effect in 1938. This decline in the real value of the minimum wage over that seven years translated into lower real wages for millions of workers and contributed to the income gap between poor working families and the middle class. Raising the minimum wage allows those who make minimum salaries to keep up with inflation. It also helps those that need it the most such as single mothers and minorities. In addition, it will cause a ripple effect in that wages will also increase for those that make just above the minimum. In 1968, a full-time employee who earned the minimum wage made what would be the equivalent of $15,431 today, 44 percent more than todays full-time minimum wage worker (Lee, 1999, p. 1016).
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