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  • Essay / Minimum Wage and the American Dream - 1247

    Living in a nice house, in a good neighborhood, and having nice cars is what most people consider part of the American dream. But how are you supposed to get there? Unless you win the lottery, you will have to work in one way or another. Achieving the American dream while earning minimum wage may take longer, but it's still achievable. Through higher education or hard work, individuals can achieve a higher standard of living. What is minimum wage? Minimum wage is the lowest hourly rate (in dollars per hour) that employers can pay their employees. According to minimumwage.com, the minimum wage in Minnesota is $7.25 per hour, but it will be increased to $9.00 per hour. Minnesota's minimum wage is a common rate in many states such as Texas, South Dakota, and Iowa. Oregon and Washington are states with minimum wage rates currently set at $9.00 per hour or higher. For these two states, increasing the minimum wage did not necessarily lower the poverty line. Oregon and Washington are still among the top 20 states with high poverty rates, while New Hampshire has the lowest poverty rate and also has a minimum wage set at $7.25 an hour . According to familyusa.org, the poverty line is that of a single person living alone with no dependents earning $11,490 per year. The annual salary increases by $4,020 for each person added to the household. Minimum wage is primarily used for part-time jobs, and part-time jobs are not intended to support a family full-time. These jobs are aimed at teenagers or people who can rely on other people to earn a living. People who live on minimum wage generally live alone and can support themselves. If a woman has a dependent child, she receives additional monetary compensation via ch...... middle of paper ...... time. During the last recession, banks issued loans that exploded after a few years and put many people out of work. During the recession, white-collar workers did not lose their jobs as quickly as blue-collar workers. America must keep the minimum wage at $7.25 and stop helping people stay home and let hard-working Americans pay for doing nothing! Works Cited Davidson, Paul. “13 States Raise Pay for Minimum Wage Workers.” The United States Today. Gannett, December 30, 2013. Web. May 7, 2014. Alex, Er EM Hess and Thomas C. Frohlich, 24/7 Wall St. “Eight States with the Highest Minimum Wages.” The United States Today. Gannett, December 3, 2013. Web. May 7, 2014. “Cost of Living Calculator: Compare the Cost of Living in Two Cities.” » CNNMoney. Cable News Network, March 2014. Web. May 7, 2014. “Federal Poverty Guidelines.” Families United States. Np, November 2013. Web. May 06 2014.