Minimum Wage Hike? We Think It’s a No-Brainer.
Here’s what our New Hampshire and Maine Director MaryLou Beaver wrote on the topic:
A recent poll showed that 73% of voters support raising the minimum wage to $10 — but wealthy and corporate donors aren’t as enthusiastic.
A blog by Mijin Cha in Demos states that the President’s proposal is to raise the minimum wage to $9 an hour, phased in over three years, and tie it to the cost of living so it automatically adjusts. If anything, the proposed minimum wage is still too low. If the minimum wage had kept up with the rate of inflation, it would now be over $10. Still, Congress hasn’t raised the minimum wage in four years so $9 is an improvement over the current $7.25 and ensuring that it will adjust automatically will bring millions of workers out of poverty.
She goes on to say that raising the minimum wage benefits more than just low-wage workers. When people make more money, they spend more money and businesses benefit. The Economic Policy Institute estimated that raising the minimum wage to $9.80 would actually create jobs because more people could spend more money. Low-wage workers are more likely than any other income group to immediately spend any extra income on previously unaffordable basic needs or services. The increase in consumer spending increases demand, which in turn, results in new hiring.
A map of the current state of minimum wage laws in the states.
Lifting parents out of poverty, lifts kids out of poverty.