Application of Financial Statement Essay Example | Topics and Well Written Essays - 2250 words

Application of Financial Statement - Essay Example The Income Statement The income statement is â€Å"a financial statement listing all revenue and expenses for a fiscal period leading to net income or net loss: a statement that describes the operations of a business over a period of time (fiscal period)† (Kravitz, 1999 p63). The income statement is therefore a financial statement that shows the results of the operations of a business. This involves financial information about the income that a business makes and the expenditure that the business incurs over a given period of time. In effect, the income statement matches the revenue of a business with its expenses and provides the net income or net loss. In other words, the income statement provides an insight into the kind of revenue inflows and outflows that were incurred during the normal trading activity of the business. Another aspect of the income statement is that it is a period statement. In other words, it captures the financial picture of a business's trading activit ies over a defined period of time. This means that the income statement is mainly concerned with how a business performed in trade over the specified period of time. Tracey (2009) identifies that the main purpose of the income statement is to identify the profit or loss made by a business in a given period of time (p13). This means that the income statement identifies the performance of a business in terms of how much profits or losses that the business made over the specified period for which the accounts were prepared. This shows clearly that the income statement is mainly a tool for the measurement of the financial viability or otherwise of a given business in a stated period of time. â€Å"The income statement summarizes the sales revenue and expenses of a business for a period, usually 1 year† (Tracey, 2009 p13). This indicates that most businesses prepare their income statements over a period of 12 months. The GAAP and other legal statutes require businesses to prepare financial statements once every 12 months. However, in some instances, a business might opt to prepare an income statement for periods that are less or more than the 12 month period. If a business began trading in the middle of they year, they many prepare income statements for a period that is less than 12 months. Such a financial statement might be pro-rated for taxation and other financial purposes. This means that the number of months for which the accounts were prepared will be identified and divided by the 12 months period to find out the true worth for certain statutory purposes like tax. Typically, the tax rate that is invoked on such a business is calculated by identifying the number of months for which the accounts were prepared and dividing it by 12 before the figures are multiplied by the annual tax rate. The main motive is that income statements must be prepared over a given period and there should be definite cut offs within which the income and expenditure captured ar e compared. Tracey (2009 p13) identifies four main steps in the preparation of income statements. In the first step, the sales revenue is matched with the cost of goods or services that were sold. In other words, this involves the matching of income or payments made by customers to the business against the cost the business incurred in producing the goods sold.

Response to 4 students with 60 words each and 2 references for each Coursework

Response to 4 students with 60 words each and 2 references for each response - Coursework Example This was in the sense that the writer looked beyond just one area or aspect of resistance to identify three clear forms of resistance. These were the individual, group and larger system (quote). With this, it was possible to outline and equip global managers with some of the major areas of organizational change that they can give their focus to especially when they want to curtail the problem of resistance (quote). It was therefore of great importance that the writer systematically divided the forms of resistance. This particular writer paid much tribute to the fact that organizational changes are inevitable and reasons why resistance to organizational change may be resistance (quote). Much attention was however given to these that not much that not much in-depth analysis could be done on ways of addressing the resistance. Meanwhile, for the manager who uses the present study, the best way that he would benefit is for him to be made aware of some of the key problem solving solutions to resistance to organizational change (quote). The writer focused on causes of resistance to organizational change. As much as this is a useful step and way of informing managers of some practices that could lead to resistance to the changes they profess to undertake (quote), it would have been more useful if specific solutions to addressing the issues were outlined. Some of these solutions could be given in a real life case study of a known

Should Disabled Veterans Get Preferential Treatment over Better Essay Example for Free

Should Disabled Veterans Get Preferential Treatment over Better Essay Affirmative Action efforts were started in 1964 to end the long history of overlooking qualified people of color and women from higher education. Affirmative Action sets standards for a business or office of admissions, so that a white man does not have the upper hand over an equally or greater educated minority’s, female or disabled veteran. The initial way the government tried to justify Affirmative Action was to develop a human resource approach: first identifying the problem, which is racism, sexism and handicapped stereo typing then establishing the solution. The intent of the Disabled Veterans Affirmative Action Program (DVAAP) is to help cut down on discrimination in the work place, despite the fact that some believe that (DVAAP) is a form of reverse discrimination. In contrast, the first goal of (DVAAP) was to help disabled veterans across the nation receive the entitlements they deserve when they apply for employment in the Federal Government. I believe that Charles J.  Muhl was trying to say that the Affirmative Action techniques have the advantage of not only persuading employers not to discriminate when hiring or accepting, but to expand employment and educational opportunities for groups that might be just as deserving but less fortunate. Therefore the (DVAAP) is legitimate because it does reduce discrimination in the work place and related areas such as various jobs on Government Installations and Federal Offices. In the end, it should in no way be abolished. A California Superior Court had upheld the states use of 3 affirmative action programs but struck down 2 of them owned by minorities, woman and disabled veterans. The program that the Superior Court upheld was intended to remedy discrimination and according to proposition 209 there was no discrimination towards minorities or disabled veterans. Those two programs mentioned nothing about minorities or disadvantaged veterans only disadvantaged businesses. I feel that the Superior Court rejected the states laws because it seemed like they felt it was reverse discrimination and unconstitutional. Affirmative action is becoming highly controversial. Right now Proposition 209, in California, which bans all programs involving race and sex preferences run by the state, has passed but it will not be put into total action due to some questions of constitutionality. But one must ask themselves â€Å"Is the DVAAP a new form of Affirmative Action? † The DVAAP has employed about 93,000 disabled veterans during 2005. Without programs like this, there would have been about 93,000 unemployed veterans’ just collecting disability and unemployment, resulting in more tax money being spent on disabled veterans. With this system they are able to make a valued contribution to society and not become a financial burden on the rest of the economy. Mark Rosenbaum of the Southern California Branch of the American Civil Liberties Union declared an argument. Proposition 209 should be declared unconstitutional because it singles out women and minorities at a time when discrimination still exists, Now let just think for a minute, How many of these Disabled Veterans are women or minorities? Also take into consideration if you add some sort of combat wound to that Veteran, what would you have without the help of the (DVAAP)? I will tell you. People would look at those brave Veterans that put there lives on the line and call them a â€Å"BUM† These people are not bums, they are fallen heroes that need help. Discrimination does still exist in our not so perfect world, and so far various forms of Affirmative Action is our only solution; so why is California trying so hard to put an end to it? Abolishing Affirmative Action is not the answer. President Clinton spoke out in his speech for National Archives: Let me be clear: Affirmative Action has been good for the United States we should have a simple slogan: Mend it, but dont bend it. The problem with the Affirmative Action debate could be that those arguing for it do a poor job defending their position. Due to the fact that Affirmative Action has been in place for more than a generation, critics have lost sight of how the job market and higher education looks without Affirmative Actions stabilizing effects. They could possibly make a stronger stance if they pointed out that there are thousands of injured veterans (woman and minorities) in the current ongoing war trying to readjust back to civilian life. They are also highly qualified for many forms of employment. (Section 4214(a)(1) of the title 38, United States Code) Many critics that were not hired for jobs that they felt that they deserved seem to think that Affirmative Action is a cleverly disguised form of racism and ineffective, but taking a look at what happens when there is no Affirmative Action, such as in court case’s around the United States reverse discrimination suit. Some courts are ruling to ban the race card, gender card and disabled veterans card when applying for government jobs. I would like to point out The whole reason that there are handicapped preferences is that the handicapped do not meet the standards applied to others, if they were require that they meet the standards then they would not have gotten in. I have a handy capped person that works with me and when I asked him how did he get his job, he told me I clearly got in through an Affirmative Action program, and I dont apologize for it Im proud of it. † It got me in, but it didnt get me out, didnt take the bar exam for me, didnt pass the two hundred and eighty five or so pieces of legislation Ive authored. He is a perfect example of Affirmative Action, a handicapped minority getting the chance to prove himself. Affirmative Action did not get him where he is today it just simply got his foot in the door. Affirmative Action gave him a chance he would not have gotten if Affirmative Action did not exist. Although sad, but true we do not live in a perfect, color-blind country. I believe It is simply wrong to play politics with the issue of Affirmative Action and divide our country at a time when, if we really want to change things, we have to be united. I have had experience with Affirmative Action, nearly twenty years of it now, and I know it works. In conclusion, Affirmative Action, just as it started, is trying to create unity within the real world, which is not perfect and there is lots of handicapped stereo typing. So why are we still asking the question of why we are using various forms of Affirmative Action? Proven that it abolishing Affirmative Action would be a negative effect to the work place, why should we go back to the days of handicapped stereo typing, why not move forward still some until we can create unity. We should seek not just equality as a right and a theory, but equality as a result. Maybe the world hasnt exactly found equality as a result, but with the Disabled Veterans Affirmative Action Program, the world is a lot closer to equality than without it.

State And Evaluate Aristotles Function Philosophy Essay

State And Evaluate Aristotles Function Philosophy Essay In Nicomachean Ethics, Aristotle claims that to discover the human good we must identify the function of a human being. I will first explain this idea of Aristotles known as the function argument. He argues that the human function is rational activity. Our good is therefore rational activity performed well, which Aristotle takes to mean in accordance with virtue. I will then evaluate how Aristotles function argument has a great degree of relevance to Platos perception of happiness in the Republic. After Socrates tries to establish that the just life is the happiest and best, Plato Aristotles function argument is defined in book one of his book Nimoachean Ethics. The purpose of the book is to discover the human good, identified as happiness, at which we ought to aim in life. Aristotle tells us that everyone refers to this eudaimonia (happiness), but that people disagree about what it consists in (1.4 1095b). In 1.6, Aristotle suggests that we might arrive at a clearer conception of happiness if we first determine the ergon (function) of a human being (1.7 1097b). The explanation for this line of inquiry is that for all things that have a function or activity, the good and the well is thought to reside in the function (1.6 1097b). He presents the example of a flute player in the book to explain what he means by the function resides within the object conducting the activity. In order for one to be a flute player, one must know how to play the flute. Similarly, for one to be happy, happiness must exist within oneself. He also acknowledges that the human is a varia tion of the function, because the function of any task is absolute and perfect within itself. This concept can be further clarified using the example of the flute, there is an absolute and perfect way to play the flute, one of which we are incapable, therefore we play a slightly altered way, but it is still similar enough to its function form that we still consider the activity as playing the flute. The argument that follows establishes that human function is an active life of the element that has a rational principle (1.7 1098a). By this Aristotle means every action has a purpose for the sake of which others are done (1.7 1098a). The flute is played to create music, medicine is practiced to cure, and like this, every task has its purpose. Therefore, happiness is the activity of the rational part of the soul and in accordance with virtue (1.7 1098a). Any function that has a rational principle must therefore be a rational part of the soul, and because we live life seeking to find hap piness, happiness is a rational part of the soul making it a virtue. Aristotle defines virtue as a balance point between a deficiency and an excess of a trait. The point of greatest virtue lies not in the exact middle, but at a golden mean which is sometimes closer to one extreme than the other. For example, courage is the mean between cowardice and foolhardiness, confidence the mean between self-deprecation and vanity, and generosity the mean between miserliness and extravagance. Finding the golden mean requires common-sense, not necessarily high intelligence. Aristotle views virtue as an excellence at being human, a skill that helps a person survive, thrive, form meaningful relationships, and find happiness (CITATION). He also states that virtues are initially difficult, but become easier with practice and eventually become habit. Aristotles function argument, is a descendant of one offered by Plato at the end of the  ¬Ã‚ rst book of the Republic (Republic 352d-354b). Socrates tries establish that the just life is happiest and best, and he argues as follows. First of all, each thing has a function, which is what one can do only or best with that thing (R 352e). Furthermore, everything that has a function has a virtue, which enables it to perform its function well (R 352b-c). The function of the soul is taking care of things, ruling, deliberating, and the like, since these are activities you could not perform with anything except your soul. A few lines later Socrates also proposes that living is a function of the soul (R 353d). Since the soul only performs its function well if it has the virtue associated with its function, a good soul rules, takes care of things, and in general lives well, while a bad soul does all this badly (R 353e). Since earlier arguments have supposedly established that justice is the virtue of the soul, Plato concludes that the just soul lives well, and therefore is blessed and happy, while an unjust one lives badly and so is wretched. Both versions of the argument seem to depend on a connection between being a good person and having a good or happy life, and their aim is to connect both of these in turn to rationality. Aristotles version of the argument in particular has provoked a great deal of criticism, some of which I describe in the next section. In this essay, I offer an account of what Aristotle means by function and what the human function is, drawing on Aristotles metaphysical and psychological writings. I then reconstruct Aristotles argument in terms of the results. My purpose is to defend the function argument, and to show that when it is properly understood, it is possible to answer many of the objections that have been raised to it. For reasons I will explain below, I think it is essential to make good sense of the function argument, because the theoretical structure of the Nicomachean Ethics collapses without it. Part of the defense is conditional, and shows only that if one held Aristotles metaphysical beliefs, the function argument would seem as natural and obvious as it clearly seemed to him. But part of it is intended to be unconditional, and to show that, gien certain assumptions about reason and virtue, which, if not obvious, are certainly not crazy, the function argument is a good way to approach the question how to live well. The major differences that can be seen between these two arguments are seen when we examine the goals of both Plato and Aristotle. Plato has two main goals behind his argument, the first is to refute the position that injustice is better than justice. Secondly, his human function argument helps to set up the idea of his model cities, in which each person has a function and the city is virtuous when everyone performs their own function. Aristotle is examining happiness as the ultimate end and is searching for ways to get to that end. Thus, by proving that this good is found in the expression of reason, Aristotle is able to prescribe a path to happiness. If one fulfills ones function, expression of reason, and does so in an excellent manner, one will necessarily attain happiness. Another way in which the two arguments differ is on their actual conceptualization of what the human function is. For Plato, the human function is defined as deliberation, ruling, living and taking care of things. This differs greatly from Aristotle idea of the human function which is, to perform activities that express reason. Not only are these two definitions very different, but they illustrate the chasm between the ways that each philosopher is thinking of the concept of a human function. Plato thinks of it in terms of the persons place in society. His ideas of ruling, deliberatingà ¢Ã¢â€š ¬Ã‚ ¦etc pertain to the community in which one lives, and ones relation to it. Aristotle approaches the problem from a much more individualistic point of view. Expressing reason in ones action does not have anything to do with a relationship with other people or a community, but relates only to the individual. In conclusion, the biggest difference between Platos argument and Aristotles is their conceptualization of the concept of the human function. Also, their goals are vastly different. Plato uses his argument to refute those who would argue that injustice is beneficial and to set up his model city, in which virtue for the city is derived from each person fulfilling their function. Aristotle, on the other hand, uses his argument to directly set up a method for achieving the ultimate good.

Essay --

Fantasia Goodwin is junior at the University of Syracuse and a starter for the varsity women’s basketball team. Fantasia finds herself in a precarious situation upon learning she is pregnant during the 2007 basketball season. Faced with many uncertainties, Fantasia encounters what is undoubtedly one of the biggest ethical dilemmas she has faced thus far in her life. There are many layers to her dilemma and they all need to be carefully taken into consideration. In order to help Fantasia make an informed decision she must first identify all of the ethical issues surrounding her pregnancy and the cause-effect relationship they will certainly have. First and foremost if she remains silent and continues to play through the season she faces the consequences of potentially damaging her unborn baby to the extent of birth defects, injuring herself and/or miscarrying. On a tertiary level, Fantasia is also faced with the consequences that disclosing her pregnancy could bring, such as, losing her scholarship, losing her eligibility, losing her position on the team and/or being pressured to abort the baby. Stakeholders in which Fantasia must take into consideration before making an informed decision include Fantasia. As the mother of the baby she is the primary stakeholder in this situation. The decision she makes could potentially have profound effects on the outcome of her future. The Syracuse department of athletics, teammates, the University of Syracuse and other Universities team members should be taken into consideration. Finally, regardless whether or not the father is involved in the decision making process, consideration of his thoughts and feelings must be given proper attention in this matter. Before a final decision ... ...thletes that became pregnant. Syracuse University at the time did not have guidelines nor did they have their female athletes sign any formal documentation to the effect of mandatory disclosure or a promissory note indicating scholarship funding would be pulled as a result of pregnancy. However, also in 2007 a track and field star from Clemson University set the stage for many Universities to address and add provisions as it pertained to pregnancy. Clemson University did have their female athletes sign promissory notes indicating funding and eligibility would be suspended as a result of pregnancy. Upon learning that their track and field star was pregnant her scholarship funding ended immediately as did her place on the team. Interestingly enough, there are absolutely no guidelines for male athletes that are fathers and this disparity has yet to be addressed.

Dear Shakespeare: A Critique Of The Tempest Essay -- essays research p

Dear Shakespeare: A Critique of The Tempest To Mr. William Shakespeare,   Ã‚  Ã‚  Ã‚  Ã‚  I am going to get right down to business. I am writing to you regarding our recent collaboration on The Tempest. In my opinion I think we need to make a couple of changes. The first is in regards to Caliban and the second has to do with Prospero.   Ã‚  Ã‚  Ã‚  Ã‚  As I was reading the section of the play where Caliban takes Stephano as his master I began to think about how he should be wiser by now. As is Caliban begs a drunken Stephano to be his master. In my opinion Caliban should show development by not drinking and possibly taking advantage of the drunk Stephano and Trinculo. It should develop in this fashion:   Ã‚  Ã‚  Ã‚  Ã‚  Caliban:   Ã‚  Ã‚  Ã‚  Ã‚  I believe that I can assist you in your stay on the island.   Ã‚  Ã‚  Ã‚  Ã‚  Stephano:   Ã‚  Ã‚  Ã‚  Ã‚  What mean you beast?   Ã‚  Ã‚  Ã‚  Ã‚  Caliban:   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  I prithee, let me bring thee where crabs grow, And I with my long nails will dig thee pignuts, Show thee a jay's nest, and instruct thee how To snare the nimble marmoset. I'll bring thee To clustering filberts, and I'll teach thee to get Young scamels from the rock. Does't though attend me? Stephano: I do. For all this service what want'st you in return. Caliban: I ask but one simple service. The death of my tyrant master. Stephano...

Minimum Wage Good or Bad

Minimum Wage Good or Bad Rachel L. Hathaway Professor Myung Han Economic Problems and Issues – ECO 40500816 March 15, 2009 Whether minimum wage is good or bad, has been an ongoing debate since before 1938 when the government set the first federal minimum wage at $0. 25/hr thanks to the Fair Labor Standards Act. The federal minimum wage is currently at $6. 55/hr with yet another increase to come July 24, 2009 to begin the federal minimum wage up to $7. 25/hr. Minimum wage was ideally set to help the working poor to stay out of poverty. Let’s do the math $6. 5* 2080=$13624 per year. 2008 HHS Poverty Guidelines SOURCE: Federal Register, Vol. 73, No. 15, January 23, 2008, pp. 3971–3972 Well, based on the 2008 poverty guidelines if you are a single person you are considered above the poverty line, however, if you are a head of household say a single parent with a child you now fall below the poverty line. It is easy to see that minimum wage will not cut it to make end s meet and provide for just basic needs for food and shelter and the need for child care that you have to have in order to work for the minimum wage of $6. 55/Hr. A hike in minimum wage is fun to talk about, but, in the end, economically speaking, it isn’t a worthy option. Higher wages mean higher costs, which mean higher prices across the board. With a $10 minimum wage, the ninety-nine-cent value menu at Wendy’s becomes the $1. 99 value menu, and so on, so what’s the point? If $7 an hour isn’t supporting your current lifestyle, then you have other options: a) team up with a friend or family member to help cover living expenses, B) change your lifestyle, or C) use that job as the stepping stone it is meant to be in you quest for better opportunities. Shepard, 2008, page 229-230) Ok so the minimum wage is increasing to $7. 25 in July 2009 that will make the annual income a total of $15,080. Congratulation! Single parents working at minimum wage you are now technically above the poverty line, however, you can almost bet on the cost to purchase everyday items to also go up as well. Economically in a mixed market like o urs in the US this is the normal course of things as costs to produce goods or services go up so will the sales price for the goods or ervices will follow suit to compensate for the increased labor cost, i. e. the $0. 70 raise from $6. 55/Hr to $7. 25/Hr come July. I found that even though we have federal minimum wage-state minimum wages vary widely with â€Å"27 states + DC being above the federal minimum, 12 states being equal to federal minimum wage rates, 6 being less than minimum wage, and 5 states do not have a minimum wage rate at all. â€Å"Note: Where Federal and state law have different minimum wage rates the higher standard applies. †Ã¢â‚¬  (WHD, 2008, consolidated table and p. 1) Why do the states vary so? The cost of living of within each state is so different the main logical reasoning. Some states are proactive with their higher wages by linking their increases to the Consumer Price Index in hopes to keep up with inflation. Others are lower but are held to the federal minimum wage anyway. The attempt to at least keep up with inflation is an honorable one however the output effect of inflation seems to keep the wages on the lagging side. You would expect minimum wage workers to typically be teenagers or young adults working their first jobs trying to gain skills and experience. However, many older adults are also filling those minimum wage jobs as while taking away taking away valuable experience needed to move on to higher paying positions. So how do we make more jobs? In our current state of recession in this country and the jobless rate mounting, we should consider placing a freeze on the minimum wage instead of adding to the unemployment rate with the next increase due in July 2009. By holding wages steady businesses are more likely to hire more laborers instead of letting go of laborers due to increase costs. We need all the help we can get to lower or at least slow the unemployment rate. It is estimated that for every one entry level/minimum wage position opening there are now 5 to 7 applicants. Minimum wage, good or bad, it is not helping those it was intending too. References Ehrenreich, B. (2001). Nickel and Dimed. New York: Owl Books Henry Holt and Company, LLC Messerli, J. (2007, December) A 20-Point Plan for Fixing America. Retrieved March 10, 2009 from http://www. balancedpolitics. org/editorial-point_plan. htm Sharp, A. , Register, P. , and Grimes, P. (2008). ECO 405 Economic Problems and Issues third custom edition. USA: The McGraw-Hill Companies, Inc. Shepard, A. (2008). Scratch Beginnings. Chapel Hill, NC: SB Press The 2008 HHS Poverty G _uidelines, _One Version of the [U. S. ] Federal Poverty Measure. (2009, February). Retrieved March 13, 2009 from http://aspe. hhs. gov/poverty/08poverty. shtml WHD. _ _(2008, December), Minimum Wage Laws in the States – January 1, 2009, Retrieved February 13, 2009, from http://www. dol. gov/esa/minwage/america. htm Wikipedia. (2009, February), Minimum wage in the United States, Retrieved February 13, 2009, from http://en. wikipedia. org/wiki/Minimum_wage_in theUnited_States Minimum Wage Good or Bad Minimum Wage Good or Bad Rachel L. Hathaway Professor Myung Han Economic Problems and Issues – ECO 40500816 March 15, 2009 Whether minimum wage is good or bad, has been an ongoing debate since before 1938 when the government set the first federal minimum wage at $0. 25/hr thanks to the Fair Labor Standards Act. The federal minimum wage is currently at $6. 55/hr with yet another increase to come July 24, 2009 to begin the federal minimum wage up to $7. 25/hr. Minimum wage was ideally set to help the working poor to stay out of poverty. Let’s do the math $6. 5* 2080=$13624 per year. 2008 HHS Poverty Guidelines SOURCE: Federal Register, Vol. 73, No. 15, January 23, 2008, pp. 3971–3972 Well, based on the 2008 poverty guidelines if you are a single person you are considered above the poverty line, however, if you are a head of household say a single parent with a child you now fall below the poverty line. It is easy to see that minimum wage will not cut it to make end s meet and provide for just basic needs for food and shelter and the need for child care that you have to have in order to work for the minimum wage of $6. 55/Hr. A hike in minimum wage is fun to talk about, but, in the end, economically speaking, it isn’t a worthy option. Higher wages mean higher costs, which mean higher prices across the board. With a $10 minimum wage, the ninety-nine-cent value menu at Wendy’s becomes the $1. 99 value menu, and so on, so what’s the point? If $7 an hour isn’t supporting your current lifestyle, then you have other options: a) team up with a friend or family member to help cover living expenses, B) change your lifestyle, or C) use that job as the stepping stone it is meant to be in you quest for better opportunities. Shepard, 2008, page 229-230) Ok so the minimum wage is increasing to $7. 25 in July 2009 that will make the annual income a total of $15,080. Congratulation! Single parents working at minimum wage you are now technically above the poverty line, however, you can almost bet on the cost to purchase everyday items to also go up as well. Economically in a mixed market like o urs in the US this is the normal course of things as costs to produce goods or services go up so will the sales price for the goods or ervices will follow suit to compensate for the increased labor cost, i. e. the $0. 70 raise from $6. 55/Hr to $7. 25/Hr come July. I found that even though we have federal minimum wage-state minimum wages vary widely with â€Å"27 states + DC being above the federal minimum, 12 states being equal to federal minimum wage rates, 6 being less than minimum wage, and 5 states do not have a minimum wage rate at all. â€Å"Note: Where Federal and state law have different minimum wage rates the higher standard applies. †Ã¢â‚¬  (WHD, 2008, consolidated table and p. 1) Why do the states vary so? The cost of living of within each state is so different the main logical reasoning. Some states are proactive with their higher wages by linking their increases to the Consumer Price Index in hopes to keep up with inflation. Others are lower but are held to the federal minimum wage anyway. The attempt to at least keep up with inflation is an honorable one however the output effect of inflation seems to keep the wages on the lagging side. You would expect minimum wage workers to typically be teenagers or young adults working their first jobs trying to gain skills and experience. However, many older adults are also filling those minimum wage jobs as while taking away taking away valuable experience needed to move on to higher paying positions. So how do we make more jobs? In our current state of recession in this country and the jobless rate mounting, we should consider placing a freeze on the minimum wage instead of adding to the unemployment rate with the next increase due in July 2009. By holding wages steady businesses are more likely to hire more laborers instead of letting go of laborers due to increase costs. We need all the help we can get to lower or at least slow the unemployment rate. It is estimated that for every one entry level/minimum wage position opening there are now 5 to 7 applicants. Minimum wage, good or bad, it is not helping those it was intending too. References Ehrenreich, B. (2001). Nickel and Dimed. New York: Owl Books Henry Holt and Company, LLC Messerli, J. (2007, December) A 20-Point Plan for Fixing America. Retrieved March 10, 2009 from http://www. balancedpolitics. org/editorial-point_plan. htm Sharp, A. , Register, P. , and Grimes, P. (2008). ECO 405 Economic Problems and Issues third custom edition. USA: The McGraw-Hill Companies, Inc. Shepard, A. (2008). Scratch Beginnings. Chapel Hill, NC: SB Press The 2008 HHS Poverty G _uidelines, _One Version of the [U. S. ] Federal Poverty Measure. (2009, February). Retrieved March 13, 2009 from http://aspe. hhs. gov/poverty/08poverty. shtml WHD. _ _(2008, December), Minimum Wage Laws in the States – January 1, 2009, Retrieved February 13, 2009, from http://www. dol. gov/esa/minwage/america. htm Wikipedia. (2009, February), Minimum wage in the United States, Retrieved February 13, 2009, from http://en. wikipedia. org/wiki/Minimum_wage_in theUnited_States