Tuesday, December 24, 2013

Who Stands to Raise Minimum Wage and Who Does Not

No Big Surprise Here

(from DOL page)

Department of Labor - History of the Minimum Wage here.

Good segment below from msnbc.com, but try and find a GOPer who thinks that way. Good luck...

My notes here are my strong belief about this issue:

America’s low-wage economy is marked by two extremes:

1. Workers earning at or near the minimum wage are seeing the real value of their paychecks diminish steadily over time,

2. Their cost of living (COLA) increases or stays flat, while their wages remain stagnant, or drop.

On the other hand, many corporations are posting record-breaking profits:

The Wall Street Journal reported last year that after sinking from 2007 to 2009, corporate profits had successfully caught up to their pre-recession peak by the beginning of 2010 – and that by the third quarter of 2011, total profits for U.S. corporations reached a new record high of $1.97 trillion.

The central finding of this report is that the majority of America’s lowest-paid workers are employed by large corporations, not small businesses.

After nearly half a century of neglect, today’s federal minimum wage of $7.25 per hour is decades out of date. In terms of purchasing power, its value is 30 percent lower today than it was in 1968.  And that's a shame.

This is a critical issue that is timely to fight for. So, what's your next move???

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