50 an hour. This amount will be able to support and have a small family live comfortably. They will also be able to afford basic medical insurance and live in secure housing without a lot of government support. Along with wage increase benefiting people's lives, it will also help the economy. When the recession hit, people had to close their businesses and they lost a lot of money. If we were to raise minimum wage people would have money to spend on luxury items and activities. This would help the economy because people could re-open their businesses and sell things that aren't particularly necessary to have. .
Another benefit is that people will have a little extra money to put aside from everyday living to start paying back debt. If people aren't making enough money they will start to use credit cards and add to their money troubles. Every little bit counts and if wages can be raised then things will start to be paid off. Raising minimum wage will not only help people socially and economically but it will also help them mentally. People work long and hard all week long and don't have much to show when they get their paycheck on Friday. If people were making more money they would feel more self-worth. The value of work is much deeper than just making money. People want to feel good about what they do no matter what it is. They want to feel like they have a purpose in life. This is hard because not everyone has his or her ideal job and even if it's not what you want to be doing, that doesn't mean you aren't doing a good job. .
Minimum wage is a contentious issue because it is debated in a wide and eclectic audience. Minimum wage is at the heart of the economist's interest. Countries all over the world maintain minimum wage laws. For this reason, it is of obvious importance to policy makers. Because those that tend to earn a minimum wage are disproportionately from low income and minority families, the minimum wage has attracted attention from social activists as well.