Come Together to Inspire, Interact, Influence, and Impact.

Loading
x
Notifications
Log Out? Are you sure you want to log out?
Log Out
IWN Staff
June 2, 2023 - 3 minutes
facebook linkedin twitter telegram telegram

In 60 Seconds: Minimum Wage

*PDF Download: In 60 Seconds – Minimum Wage

Democratic lawmakers want to increase the federal minimum wage from the current level of $7.25 to $15.00 per hour to provide workers a “livable” wage that they can raise their families on.

Increasing the federal minimum wage to $15 would lead to:

  • Anywhere from 1.3 million to 7 million jobs lost.
  • Fewer opportunities for low-skilled workers, young people, and women.
  • Reduced hours/smaller paychecks for workers.

We want every American to experience upward mobility and achieve his or her American dream. For many, it starts with that first minimum-wage job.

Here’s the issue of minimum wage in 60 seconds: 

What’s at Stake

Democratic lawmakers want to increase the federal minimum wage from the current level of $7.25 to $15.00 per hour to provide workers a “livable” wage that they can raise their families on.

Bad Solution:
Increasing the federal minimum wage to $15 would lead to:

  • Anywhere from 1.3 million to 7 million jobs lost.
  • Fewer opportunities for low-skilled workers, young people, and women.
  • Reduced hours/smaller paychecks for workers.

We want every American to experience upward mobility and achieve his or her American dream. For many, it starts with that first minimum-wage job.

Most minimum-wage workers are women and young people working part-time jobs to build skills and gain experience.

Raising the federal minimum wage makes hiring and retaining these workers more expensive. Employers have few options when their labor costs increase. They can:

  • Forgo hiring new workers.
  • Lay off current staff, reduce staff hours, or cut benefits.
  • Raise prices on the goods and services.
  • Close their doors.

A Better Path Forward: A Strong Labor Market

When jobs are plentiful, workers can negotiate for higher wages or find better-paying opportunities. Policies that foster a strong labor market will truly help low-skilled workers:

Safe Reopening: Deem all businesses essential and allow them to reopen with reasonable safety protocols.

Low Taxes: The Tax Cuts and Jobs Act reduced corporate taxes from 35 to 21 percent, which was projected to increase long-run GDP by 1.7 percent, create 339,000 jobs, and raise wages by 1.5 percent. Individual tax cuts also directly boosted take-home pay. Congress should keep the tax cuts.

Deregulation: Excessive regulation has cost the U.S. an average of 0.8 percent of GDP growth per year since 1980. This is a waste of resources that could benefit workers.

Occupational Licensing Reform: Licensure to work in specific industries has grown exponentially over the past few decades and is associated with 2.8 million fewer jobs.

Earned Income Tax Credit: The EITC is a “refundable” tax credit that encourages poor workers to seek employment and augments their wages. It is credited with lifting 4.1 to 5.8 million people out of poverty in 2016, including up to 3 million children.

Addressing Misperceptions: 

IWN Staff
Back to Resource Center

More from IWN Staff

Share This For Wyoming Sorority, the Word ‘Woman’ is Up for Debate

IWN is continuing our fight to keep sororities female.

IWN Staff September 27, 2023
Read This What to Know: Parental Rights in Education

The education of public school students has become a contentious battleground, with…

IWN Staff September 27, 2023
Resource Center Merit v. Equity in Public Education

IWN has a fantastic new resource available for you in our Backgrounders…

IWN Staff September 21, 2023
Share This The Women’s Bill of Rights: What You Should Know

The discussion around women's rights has become increasingly challenging due to conflicting…

IWN Staff September 19, 2023
Read This The Importance of Education Freedom

Education freedom focuses on empowering students and parents rather than systems.

IWN Staff September 13, 2023

Related Posts by IWN

How to Write a Letter to the Editor (LTE)

It's the perfect time for placing a Letter to the Editor in…

IWN Staff August 16, 2023
Template Letter: Refusal to Sign Code of Conduct Email

This email is to inform you that we will not be signing…

IWN Staff August 11, 2023
In 60 Seconds: AB5

*PDF Download: In 60 Seconds – AB5 Today, 1 in 5 jobs in…

IWN Staff June 2, 2023
In 60 Seconds: Price Transparency

*PDF Download: In 60 Seconds – Price Transparency Healthcare price transparency is…

IWN Staff June 2, 2023
In 60 Seconds: Earned Leave For New Parents

*PDF Download: In 60 Seconds – Earned Leave for New Parents We…

IWN Staff June 2, 2023