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Should Minimum Wage Be Increased?

Last month Gallup poll tracked 83% of Americans in favor of raising minimum wage. Currently, 17 states have raised their minimum wage.

The current national minimum wage is $7.25, as Democratic party leaders are hoping to raise the minimum wage. However, a Gallup poll that came out last month showed that back in 2005 74% of Republicans, 80% of Independents, and 93% of Democrats were all in favor of raising the minimum wage.

 

Last month Gallup poll tracked 83% of Americans in favor of raising the minimum wage. Currently, 17 states have raised their minimum wage.

 

From Highest to Lowest, minimum wage increase:

 

1.   Washington: $9.04

2.   Oregon: $8.80

3.   Vermont: $8.46

4.   Nevada: $8.25

5.   Connecticut: $8.25

6.   Illinois: $8.25

7.   California: $8.00

8.   Massachusetts: $8.00

9.   Ohio: $7.70

10. Florida: $7.67

11. Montana: $7.65

12. Arizona: $7.65

13. Colorado: $7.64

14. New Mexico: $7.50

15. Main: $7.50

16. Michigan: $7.40

17. Rhode Island: $7.40

 

Supporters of minimum wage increase claim that raising the minimum wage would act as an economic stimulus and reduce employee turnover. While those opposed, argue that higher minimum wage would have the opposite effect, as some small business owners would struggle paying higher wages.

 

According to the Bureau of Labor Statistics, if we were to adjust the minimum wage based upon inflation from 1968 at $1.60, minimum wage would actually be $10.56 today.

 

 

 

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