A 2013 study by the Center for American Progress showed that by raising the federal minimum wage to $10.10 an hour, enrollments in the Supplemental Nutrition Assistance Program (food stamps) would decrease by $4.6 billion annually. The Economic Policy Institute found that raising the federal minimum wage would lead to a decrease of at least $7.6 […]
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Thirteen Reason why it’s Time for a Raise – #7 Raising the federal minimum wage will lift people out of poverty
A single parent with two children, who worked full-time at the federal minimum wage, would earn $15,080 in pre-tax income, more than $5,000 below the poverty line of $20,090. Raising the minimum wage to $15.00 an hour would lead to a yearly income of $31,200, more than $11,000 above the poverty threshold. Raising the federal minimum […]
Thirteen Reasons why it’s Time for a Raise – #6 The federal minimum wage has not kept up with the cost of living
If the federal minimum wage had been adjusted for inflation, it would be $10.67 an hour today. Since 1968, housing prices have doubled, the cost of gas has grown by 60%, health care costs have increased by 1500% and food costs have increased, while the federal minimum wage has lost 1/3rd of its purchasing power. This […]
Thirteen Reasons why it’s Time for a Raise – #5 Raising the federal minimum wage will help reduce the gender pay gap
According to the Bureau of Labor Statistics, 62% of all minimum wage earners are women, while 38% are men. A 2014 study by the White House, raising the federal minimum wage could reduce the gender pay gap by 5%. This is empirically proven. A May, 2015 study by the National Women’s Law Center found that states with […]
Thirteen Reason why it’s Time for a Raise – #4 Raising the federal minimum wage will help reduce income inequality
While minimum wage workers have lost one third of their inflation-adjusted value, CEO compensation has skyrocketed over 900 percent. Doug McMillon of Wal-Mart makes $12,000 per hour, surpassing the country’s lowest paid workers yearly salary by noon on his first day of work. The Top 100 CEOs all made more than $15 million last year, raking […]
Thirteen Reasons why it’s Time for a Raise – #3 A higher federal minimum wage leads to higher worker productivity
A 2015 study by the United Kingdom’s Chartered Institute of Personnel and Development found that when the minimum wage is raised, companies became more efficient, and worker productivity increased. 60% of employers support raising the minimum wage because it would allow their employees to be more productive and would not have to be concerned about outside […]