Pros and cons of minimum wage

The federal minimum wage in the US has been $7.25 per hour since 2009

While some argue that raising it is essential for reducing poverty, others fear it could lead to inflation and job cuts. The complexity deepens with states setting their own minimum wages—some even below the federal rate—leading to a patchwork of wage laws.

Does minimum wage hurt workers?

Many economists traditionally believed raising the minimum wage hurt workers more than helped them. They argued that doing so would lead to job losses believing that if something is more expensive (like labor), people (like business owners) would want to buy less of it. However, recent research suggests otherwise.

This is the longest the US has gone without a minimum wage increase since 1938

The US government hasn’t increased the federal minimum wage in more than a decade. Some people argue it's wrong that Congress needs to debate whether or not to raise the minimum wage—and that perhaps these raises should be tied to inflation.

Since its inception in 1938, Congress has raised the federal minimum wage 22 times

If you want all the details about when and why these rate increases happened check out this resource from the US Department of Labor.

When a state’s minimum wage differs from the federal's, the higher number wins out

Being that the federal government hasn’t raised the minimum wage in over 15 years, some states have taken matters in their own hands.

Pros and cons of unions

While unions require fees and can make promoting high-performing workers and letting go of lower-performing ones more difficult in some workplaces, they have their positive aspects too. Labor unions tend to increase pay and benefits for employees, for instance.

Some argue that restricting illegal immigration would raise wages for lower-income American workers

The Heritage Foundation argues that illegal immigrants' willingness to work for below-market wages suppresses wages for low-skilled American workers—and that reducing illegal immigration would increase wages and job opportunities, particularly for workers without a college degree.

Pros and cons of tariffs

While some mainstream economists are skeptical about tariffs, President Donald Trump is bullish on them. The pros and cons of tariffs include their ability to help governments raise money and the potential for retaliatory tariffs.

US tipped employees receive the 'subminimum wage' of $2.13, unchanged since 1991

Tipped employees (anyone who makes $30+ per month in tips) are not federally entitled to a traditional minimum wage. Customers determine their earnings. The National Restaurant Association believes that if restaurant owners are forced to pay above the subminimum wage for tipped workers, restaurants could be forced to close.

Supporters of payday loans say banning them would harm low-income Americans

Many argue for a federal policy that would cap interest rates for these loans, but payday lenders say that would make it impossible for them to make money, effectively forcing them to close up shop. As a result, some argue that the policy would prevent low-income, unbanked, and traditionally high-risk borrowers from accessing credit when they need it. (Some users may experience a paywall.)

Read about the pros and cons of working from home

While proponents argue that it's cheaper for both employers and employees to work from home (rather than spending money commuting to an office with an expensive lease), others point out that working remotely can make some workers feel isolated. These are just a few of the many common critiques and perks mentioned in the remote work debate.

Effects of pay transparency legislation

Research on pay transparency’s impacts has been limited given the short amount of time since American states began passing pay transparency legislation. However, this early study from researchers out of Brown and Harvard found that increasing pay transparency could have the potential to decrease worker bargaining power, resulting in lower average wages for employees. Read the research here.

Periodically, the Federal Open Market Committee decides whether to raise, hold, or lower the federal funds rate

The federal funds rate is the interest rate at which banks lend their excess funds through the Fed. This influences what banks are willing to pay consumers for their deposits in savings and CD accounts. Typically, the higher the federal funds rate, the higher the interest rates on CDs.

Some policymakers take issue with long-term capital gains being taxed at a preferential rate compared to income from paid work

The concept of taxing unrealized capital gains—when an asset’s value increases but has yet to be sold—has been increasingly debated. Other policymakers in recent years have supported lowering the highest long-term capital gains tax rate and are generally opposed to levying taxes on unrealized capital gains.

Why there's a snack recession

Inflation and economic uncertainty have driven many Americans to make cuts to their snack budgets, according to reports from major food manufacturers like General Mills, JM Smucker, and Campbell's. Major retailers have also observed lower-income consumers cutting back on nonessentials due to the macroeconomic environment.

One Fair Wage is a national organization advocating for eliminating subminimum wages

Saru Jayaraman has run One Fair Wage since 2020, an offshoot of a 9/11 relief organization for displaced workers and victims’ families she helped start shortly after the attacks. Seventy-three employees of the World Trade Center’s top-floor restaurant were killed on September 11.

Social Security is one of the most popular government programs

In a recent Pew Research Center survey of US adults, 79% said Social Security benefits shouldn’t be reduced in any way. This view is broadly shared across ages, races, political affiliations, and income brackets.

Generative AI may automate nearly 10% of tasks in the US economy

This automation is expected to impact both low- and high-wage roles, with those in customer service, food service, and office support being most likely to be affected. Large-scale investments in upskilling will be necessary to help individuals find new employment opportunities.

The case against the penny

It takes roughly three cents to produce a single penny, with an annual price tag of nearly $100M. The ubiquitous copper coin is scarcely used, ending up in jars or lost in couches, necessitating even more replacement coins, perpetuating a vicious circle. Studies suggest eliminating the coin would not cost consumers money. See a quick overview of the problem here.

How long should you stay at your job?

Is it better to stay at a job longer to make sure you look loyal on your resume, or to job-hop for the resulting pay bumps? After all, Federal Reserve data shows that job switchers increase their salary more quickly on average than those who stay put. This video from CNBC aims to help you figure out the answer to the age-old question of "should I stay or should I go?" Watch it here.

Arguments for returning to a gold standard reappear from time to time

However, critics argue that globalization has made the gold standard impractical for modern economies, as it limits a nation’s ability to have a flexible monetary policy—hence, none of today's governments have a gold standard.

What something costs is reflective of a balance in the market determined by the amount of demand relative to the supply of goods and services

Because economies are complex systems, a wide variety of issues influence this balance—including some things generally considered to be positive, like rising wages.

Unless prices of fossil fuels rise significantly, their production is expected to slow

US oil and natural gas production skyrocketed from 2000 to 2020, largely due to advances in fracking. However, weak global energy prices have prevented this boom from translating into increased profits for fossil fuel companies.

How the federal income tax affected Prohibition

In the early 1900s, 30% to 40% of government tax revenue came from liquor, wine, and beer, a reliance that made Prohibition seem like a fiscal impossibility. But the passage of the federal income tax in 1913 changed the calculus, which helped allow the government to ban alcohol production and sales.

H-1B approval rates have swung sharply between administrations

Denial rates for new H-1B petitions rose from 6% in 2015 to 24% under the Trump administration as officials tightened standards. Under Biden, approvals rebounded, with denials falling to just 2% by 2022—the lowest since 2009.

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

See this overview of the firework rules across all 50 states, ranging from a complete ban on non-professional fireworks in Massachusetts to states with more lax rules like Indiana.

The rivalry between Alexander Hamilton and Thomas Jefferson centered on federalism—the question of how much power the federal government should hold relative to the states.

The US Constitution is widely regarded as the longest-standing written national constitution still in force—see how it has influenced rights worldwide.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

Mark Twain spent decades feuding with the US Postal Service, convinced its costs and regulations were bureaucratic overreach.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

To reduce wrinkles in clothing, research recommends gentle wash cycles with more water and tumble drying with smaller loads and longer times.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

Hookworm infection, though risky, may help fight certain autoimmune conditions by tamping down the immune system's inflammatory response.

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

Some renewable energy sources may weaken the resiliency of electric grids by removing outage buffers provided by coal- and natural gas-fired plants, which provide the system with more time to find a new power source if a plant goes down.

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

In 2009, the nation was gripped by the story of a missing young boy who was believed to be floating over Colorado in a homemade balloon, until it was revealed that he was at home the whole time.

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

Lesser-known phobias include turophobia, or the fear of cheese, and nomophobia, the fear of being without your cell phone.

For centuries, Niagara Falls has been a magnet for daredevils seeking to conquer one of nature's most powerful wonders, with its 200-foot drop and water rushing at 32 feet per second with 280 tons of force.