26 Aug Discussion Topic 1: Minimum Wage LawsForthis discussion, you

Discussion Topic 1: Minimum Wage LawsForthis discussion, you will research the minimum wage laws. Your responsemust include a discussion of both the advantages and disadvantages ofminimum wage laws.For example, you might consider these differing perspectives as you approach your research:Perspective One: TheU.S. Department of Labor has imposed a minimum wage since 1938. Moststates mandate minimum hourly wage rates, too. Minimum wage legislationinhibits an employer from setting wage rates below the directed amount.Although the goal is to help workers, significant research reveals thatminimum wage laws actually do more damage to employees and the overallU.S. economy. Minimum wage laws predominantly suppress employmentopportunities for entry-level workers, youth, and minorities, the groupsthat legislators and activists proclaim to be helping with thesepolicies. Although higher minimum wages may attract more workers, ifthere are no jobs to fill, that work-force supply increase will stillexceed the demand for workers, thereby exacerbating the problem ofunemployment.Perspective Two: Someresearchers suggest that a higher minimum wage rate attracts moreworkers and reduces an employer’s job vacancy rate; in addition,decreased turnover will increase productivity and reduce the overallcost of expanding employment.Just do response each posted # 1 to 3 down below onlyPosted 1The federal government set the minimum wage in the Fair Labor Standards Act, currently the federal minimum wage is set at $7.25 per hour for non-tipped and non-exempt employees. Individual states can adjust this rate as they see fit and many have done so. The intention of the set minimum wage has several advantages. One advantage is that it decreases inequality in pay because employers must pay the minimum to everyone, increases moral and employee productivity. It can also help a small business budget, it reduces the amount the federal government spends on welfare programs and it is an incentive for an individual to take a job. As I mentioned the intention of having a minimum wage is good, however, I think the amount that is set is by no means a livable wage. I think that increasing the minimum wage to an amount that would allow for an individual or family to at least pay their living expenses would increase their quality of life, give incentive, and allow for better opportunities to make more money by possibly furthering their education. Making minimum wage requires an individual who is not financially supported by another to work several jobs just to pay their living expenses, which leaves very little time for anything other than work. The disadvantage of having a minimum wage that is set at a higher amount is that businesses may not offer any benefits because it simply isn’t affordable. The cost of product that is sold could increase because the company now has to compensate for the increase in wages. Another disadvantage to the increase in minimum wage would be for families that do receive assistance for things like daycare and medical care may then not qualify for these benefits. Posted 2Hello Class and professor,In North Carolina the minimum wage is $7.25 with premium pay afterdesignated hours past 40 a week. The laws provide social stability. Thelaws keep employees from taking advantage of desperate and eager people.Disadvantage is that employers choose to just pay minimum wage and thelaws have not kept up with inflation.Posted 3Minimum wage has indeed been around since 1938 which is some nicehistory to know and is now in the Fair Labor Standards Act (FLSA). Doingthe assignment for this week has allowed me to learn a bit more aboutthe laws set in place for both perspectives. Since it is a basis for payit applies nationwide. With that it is easy to see on their website thedifference between each state. This make sense since each state has adifferent cost of living. I did get a bit side tracked by thinking abouthow the entire country could be set on the same cost of living scalebut that became a headache. As if the first of January this year (2020)the minimum wage has supposedly gone up to $13 in California, unless acompany with less than 25 employees. I thought that was an interestingthing to come to play with the pay wage. Here in California, I do wantto put out there that the state has had plans since 2006 to get theminimum wage up to $15 by 2023. Slowly we are getting there but thereare some jobs which I think this goes into perspective two with thenegative view, don’t feel it is quite fair to them. Case in point anyskilled labor field or even delivery jobs. When I was working amazon Ionly got 15.25 per hour and I had to get them on some technicality forthe extra quarter. The amount of work and way you’re abused you wouldexpect for more compensation or even a bit more than the minimum wage.$15 is the going rate for all delivery with Amazon type jobs from what Ihave seen here in San Diego until you move up the chain. That is adifferent story but if the technical labor side a lot of people areopting to just leave these fields and go to these jobs that are trivialand get paid about the same as what they were getting paid. If there is adifference in their income some people get a side gig like Lyft, Uber,etc. I do think that some companies will do everything they can to pinchthose pennies and may even pull unfavorable moves within the company. Iknow at Target from personal events they were terminating people beforetheir retirement on anything they could so as to avoid the retirementpay with them having to increase the minimum wage for every employer itmade sense. Not a favorable move but effective in a few thousand eachmonth. Aside from staff reduction, this could get the company into thelower bracket of minimum wage. Another tactic could be to look out ofthe country for better deals and rates. Since this is accounting Ifigure I would bring back the business aspect even though its been a fewsemesters. This is common in the business world and definitely a factoron how some individuals on the top wealthiest list. With that beingsaid minimum wage is a blessing to some in this world because there aresome shady people out there that would do anything for money. That beingsaid a lot of times these employers would try to underpay. The minimumwage helps to eliminate this. Maybe the workforce does get reduced;personally I think the more reason to go your own. That can be priceytoo but a little more job security.