Annotated bibliography

Woolsey, Lynn. “ In America, working Poor Shouldn’t be forced to Exist on $15,000…” McClatchy –Tribune News Service. 27 Sep 2012: n.p. SIRS Issue Researcher. Web. 29 Mar 2013

Rep. Lynn Woolsey, D- California  argues that people who work at 7.25 an hour and earn 15k a year are barely surviving and have a lower standard of living. They often will need further assistance from the government to make ends meet as their wages at minimum is still far below the poverty line. She proposed an increased to the wage to 9.80 and keep it index to inflation, since wages have been outpaced by inflation by 7% since july 2009. The new wages will increase GDP by 25 billion and add 100,000 new jobs.

 

Lane, Charles. “Better Than Minimum Wage.” Washington Post. 19 Feb 2013: A.13. SIRS Issues Researcher. Web. 29 March 2013.

Lane gives an alternative to a minimum wage increase that won’t affect job growth and hurt low skilled worker or consumer is to increase the tax incentive. He proposed an increase in the earn income credit, child tax credit and index it to inflation as a solution to help the poor. The credit pays 5,300 per year to a family with two children.

 

Smith, Patricia. “ Should the Minimum Wage be Raised ?.” New York Times Upfront. 20 Feb 2012: 12. SIRS Issues Researcher. Web. 29 March 2013.

Smith argues that today wages is actually 25%precent less of it’s earning potential since 1968 when adjusted for inflation. The economy rest upon consumer to spend money and buy things,but if wages are so low, people tend not to spend money they don’t have spare and this causes a drag on the economy.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: