The pros of raising minimum wage
June 2, 2017
The minimum wage in Washington is currently $11.00, which is a significant boost from the wage of $7.25 across most of the nation. This boost is beneficial to the residents of Washington because it helps everyone with a minimum wage job gain a window of opportunity.
There is already a minimum wage increase plan, which would increase the minimum wage to $13.50 by 2020 and $15.00 by 2021. Currently, people who have only one job, and are only getting paid $11.00 an hour will not be able to afford as many necessities such as healthcare.
The minimum wage needs to be adjusted to the inflation rate. If this does not occur, people will lack the money necessary to purchase homes, groceries, clothes, incsurance, and other essential goods.
The amount that the average apartment in Seattle costs is around $2,140. A person earning minimum wage of $11.00, working 40 hours a week, for 51 of the weeks out of the year would earn $2,240. This leaves them with only approximately a hundred dollars. When you take in taxes, food, clothes, and transportation into account, they won’t be getting much more than the basic amenities. The proposed plan, with them working the same hours, but making $15.00 an hour would get them a whopping $30,600. This leaves them, after paying rent, with $28,460. This is an obvious improvement, and would allow people to pay for their food, clothes, transportation, and taxes and might have some money left over. The raise in minimum wage would thus result in an significant, positive impact.
A raise from not only $11.00 to $15.00, but $15.00 to $17-20.00 would exponentially benefit the people of Washington, and our economy because they would be able to spend their money within the community.