Hi, are you a supporter of the minimum wage laws? People are arguing that it increases our standards of living, reduces poverty, inequality & boosts morale.  What do you think ?
I am still undecided about the issue. Removing minimum wages may allow for bad business practices, but minimum wages are always changing.
I know, right? But I cannot believe since 2009 the minimum wage nationwide is only 7.25 hourly.  Can anyone live on that?  No wonder we have so much income disparity.
Yes, it is a bit low. It would be hard to live on that.
Income inequality in the United States
Income inequality in the United States is the extent to which income is distributed in an uneven manner among the American population. The inequality has increased significantly since the 1970s after several decades of stability, meaning the share of the nation's income received by higher income households has increased. This trend is evident with income measured both before taxes (market income) as well as after taxes and transfer payments. Income inequality has fluctuated considerably since measurements began around 1915, moving in an arc between peaks
opinion exist about the benefits and drawbacks of a minimum wage. Supporters of the minimum wage say it increases the standard of living of workers, reduces poverty, reduces inequality, and boosts morale. In contrast, opponents of the minimum wage say it increases poverty, increases unemployment (particularly among unskilled or inexperienced workers) and is damaging to businesses, because excessively high minimum wages require businesses to raise the prices of their product or service to accommodate the extra expense of paying a higher wage and some low-wage workers "will