2007-01-13 22:48:14 · 8 answers · asked by Amr R 1 in Politics & Government ➔ Law & Ethics
The federal minimum wage for covered, nonexempt employees is $5.15 per hour.
2007-01-13 22:57:11 · answer #1 · answered by Jason 3 · 0⤊ 0⤋
It's a federal law that says no one can make less than X amount of money as a wage. It's currently $5.15 per hour. Some states have a higher minimum wage.
2007-01-14 09:05:42 · answer #2 · answered by st_mel 2 · 0⤊ 0⤋
Lets start with a few facts:
The first law ever passed in the US was a maximum wage law!
Minimum wage was passed after WWII....It was meant to be half of Union scale or what became known as the poverty level, whichever was higher!
In 1968, minimum wage fell under the poverty level!
If minimum wage had kept pace with inflation, it would now be almost $10 an hour, If it had kept pace with the poverty level it would be almost $14
If minimum wage had kept pace with the increases in CEO pay, minimum wage would be $47 an hour!
30 million Americans will be directly effected by a minimum wage increase to $7.25
45 Million Americans will be indirectly effected by the increase (meaning their wages are only slightly above the new minimum)
2007-01-14 08:11:17 · answer #3 · answered by Anarchy99 7 · 0⤊ 0⤋
The federal law that sets minimum wage is called the Fair Labor Standards Act (FLSA), and it requires that all covered employers (that is, those that are subject to federal law) pay their employees at least $5.15 per hour for all time suffered or permitted to be worked in any one workweek, unless either the employer or the employee is otherwise exempt.
The FLSA is a fairly complex law with specific definitions as to what constitutes being "covered," "exempt," a "work week," "suffered or permitted," "compensable time worked," etc., but that is about as simple a definition as I can give. Contact the US Department of Labor's Wage and Hour Division - that's the agency that enforces the FLSA - at either www.dol.gov or 1-866-4US-WAGE.
Hope this helps.
2007-01-17 15:05:21 · answer #4 · answered by Poopy 6 · 0⤊ 0⤋
I think the federal minimum wage law may affect companies who deal with government contracts, or who deal on an interstate level. But I am not positive of this.
If there was no minimum wage laws, the companies would hire people and keep wages even lower so they would make rediculous profits.
People like Francis (Above) probably run rat infested businesses and make big money:(
2007-01-14 07:36:01 · answer #5 · answered by Nort 6 · 0⤊ 0⤋
Keep in mind that if you state minimum wage is higher than the federal, then you can make no less than your states min wage.
2007-01-14 08:48:42 · answer #6 · answered by JC 7 · 0⤊ 0⤋
simply put, the minimum wage law is illegal in a free market. down with the min wage dammit.supply and demand dictates everythiong in a free market including wages. min wage is absured. nort, now why would anyone pay above min wage if profits were the only objective. ppl who get paid min wage earn that bc they deserve just that. if they had marketable skills, they d be working elsewwhere. till then, be safe in your parents basement
2007-01-14 07:20:43 · answer #7 · answered by francis g 5 · 0⤊ 0⤋
I believe it is $5.15 but now they are contemplating upping it to like $7.25 or something
2007-01-14 06:55:00 · answer #8 · answered by crackermelons 3 · 0⤊ 0⤋