Many people are
confused with the minimum wage and the basic income. According to Wikipedia,
minimum wage is the lowest hourly, daily or monthly salary that employers pay
to workers. In the same way, it is the lowest pay that workers can expect in
which they can sell their services or labor. On the other hand, a basic income
or some people call it negative income tax is a system of social security that
from time to time provides each citizen with a sum of money that is sufficient
to live on. Thus, it is important to know the minimum wage before you accept
any job offer.
Minimum Wage Controversy
There are many controversies and debate
on going about the minimum wage increase in different US state. According to
idebate.org, the argument over the existence of a minimum wage and whether it
should be increased at various times has been around in America since the 30s.
In 1938, the US minimum wage was established after being first passed in 1933.
It was then ruled unconstitutional by the Supreme Court.
Historically, the minimum wage has been
raised several times. Every time, it is raised or someone proposed it to be
raised, it encounters controversies and a similar debate like the one present
in America between 2006 and 2007. Records show that the year 2006 is the
longest in history without an increase. Many argued that an increase has been
due. Several proposals were made that year to increase the minimum wage. The
debate also brought out several issues including the net effect on workers,
employers, and the overall economy.
Minimum Wage Hike In 2013
It is important to know that the
minimum wage differ in each state. In Colorado, the current minimum wage is
$7.64/hr. In Washington, it is $9.04/hr.
Complianceposter.com, posted a recent report showing a list of states that will
adjust their minimum wage rates in the coming year. In Colorado, the proposed
wage is $7.78/hr, while in Washington, it will be $9.19. The website also
mentioned that every year there are about ten states that adjust their minimum
wage rates for an increase in the cost of living. The increase in minimum wage
is based on the Consumer Price Index (CPI) which ascended to 1.7% since August
of 2011. Other states that are expected
to increase their minimum wage next year are Montana, Ohio and Oregon. This is
such a good news to job seekers especially to the head of the family or bread
winner. With minimum wage increase, they are more likely to buy their needs and
have enough money for other things. This will also guarantee a higher income to
those homeowners who are still paying rents and other bills.
Compliance posters are updated regularly so that both employees and employers can view the
current statutes and regulations enforced by the U.S. Department of Labor. DOL
often provides electronic and printed copies of these required posters free of
charge. Employers affected by the minimum wage hike are required to post the
updated Minimum Wage posting for 2013.
No comments:
Post a Comment