Question

Is the US Minimum Wage an Effective Antipoverty Program? Explain in 4 paragraphs.

Answer 1

ANSWER:

THE US MINIMUM WAGE PROGRAM HAS BECOME VERY POPULAR IN THE LAST FEW YEARS AS A RESULT OF RISING DIFFERENCE BETWEEN THE INCOMES OF RICH AND POOR AND THE MINIMUM WAGE HAS BEEN THOUGHT TO CLEAR OUT THE DIFFERENCE BETWEEN THE TWO AND THEREFORE WE NEED TO ASCERTAIN WHETHER THE MINIMUM WAGE HAS HELPED DASH OUT THE DIFFERENCES OR NOT.

FOR FINDING THE GROUND REALITIES WE NEED TO UNDERSTAND THAT MINIMUM WAGE TARGETS INDIVIDUAL WORKERS WITH LOW WAGES AND NOT THE FAMILIES WHICH HAVE VERY LOW INCOME AND THEREFORE IT HELPS THE HIGHER INCOME FAMILIES RATHER THEN LOWER INCOME FAMILIES AND INSTEAD OF MINIMUM WAGE , I THINK EARNED INCOME TAX CREDIT HELPS IN REDUCING THE POVERTY.

A HIGHER MINIMUM WAGE IS EFFECTIVE IN REDUCING THE WAGE DIFFERENCES BUT THE BENEFIT OF THIS HELPS IN REDUCING THE POVERTY OR NOT CAN BE ASCERTAINED AS TO HOW MUCH PEOPLE ARE BENEFITED FROM IT AND WHETHER THE RESPONSE FROM THE MINIMUM WAGE BY THE EMPLOYERS HAS BEEN POSITIVE AS SINCE THE WAGES WILL BE HIGHER, THE QUALITY RATHER THEN QUANTITY WOULD BE SELECTING CRITERIA AND WHETHER THE MINIMUM WAGE HAS HAMPERED THE PRODUCTION OR NOT.

THEREFORE, AFTER FINDING OUT WHETHER ALL OF THESE FACTORS HAVE HELPED IN REDUCING THE POVERTY OR NOT , ONE CAN ASCERTAIN WHETHER THIS WILL HELP AND THE RESULTS SEEM TO SUGGEST BY VARIOUS PROFIT AND NON PROFIT ORGANISATIONS THAT MINIMUM WAGE RAISES THE INCOME BUT IS NOT EFFECTIVE IN REDUCING THE POVERTY IN THE SOCIETY.