The minimum wage dates back to 1938, during the Great Depression, when the stock market crashed and bank loans were failing. Families need a certain type of income, if they want things to be fair and individuals to be able to get the same salary without a college degree. I'll start with a little history on the minimum wage and how it could help our economy. In 1892, the federal government adopted an 8-hour workday and other wage standards for employees. In 1903, Congress created the United States Department of Commerce and Labor. In 1933, Congress passed the National Industrial Recovery Act covering private sector wage hours (Congressional Digest). “On Saturday, June 25, 1938, to avoid pocket vetoes 9 days after Congress adjourned, President Franklin D. Roosevelt signed 121 bills into law. Among these bills was a landmark law in the social and economic development of the nation: the Fair Labor Standards Act of 1938” (Jonathan Grossman, Dol.gov). The Fair Labor Standards Act of 1938 became a fundamental federal law governing minimum wages, hours of work, equal pay, and child labor. The minimum wage was set at .25 cents per hour (Congressional Digest). Congress could raise the minimum wage if our economic growth was better. Congress simply cannot change the minimum wage overnight. It takes time and study to ensure that American companies can afford to pay more. But also now that the minimum wage is only $7.25. Today, the president and Congress believe that a low-income family can live on less than $15,080 a year in 2012, according to David and Doug. The minimum wage didn't rise above the poverty line until around 1980. But the value of a dollar was also worth much more then. During the current period, economic growth has expanded, which means more people and not enough jobs... middle of paper ...... in better shape today we would earn more of $7.25. But the value of a dollar is no longer worth what it once was. I believe that today the minimum wage should be increased because everyone will have to have health insurance, as it became law in 2014. Works Cited Cooper, David and Doug Hall. “Raising the federal minimum wage to $10.10 would give working families and the economy as a whole a much-needed boost.” Np, March 13, 2013. Web. December 1, 2013. “Evolving Federal Minimum Wage Law Fair Labor Standards Timeline.” » Congressional Collection. Np, March 2007. Web. December 1, 2013. "Home - Wage and Hour Division (WHD) - United States Department of Labor." Home - Wage and Hour Division (WHD) - U.S. Department of Labor. Np, and Web. December 4, 2013. “Rebuilding an economy that works for us all. » Fair Minimum Wage Act of 2013. Np, nd Web. December 5. 2013.