Minimum wage raised to $5.85
This upcoming Tuesday, the federal minimum wage will go up 70 cents, to $5.85/hour. With that increase, a person working full time - 40 hours a week, 52 weeks a year - and earning the minimum wage will earn $12,168 a year. According to the AP article, other small increases are coming, too:
Minimum wage workers will get an additional 70-cent boost each summer for the next two years, ending in 2009 at $7.25 an hour. That comes to just above $15,000 yearly before taxes for a 52-week work year.
$15,000 a year is not enough to live on. Period. That's why we need to raise the minimum wage to $10/hour in that same time frame instead. We could even take a bit more time to make it easier on small businesses, but most small businesses don't see a significant impact coming from increases in the minimum wage anyway:
A PNC Economic Outlook survey done in April showed three out of four small- and middle-market business owners said raising the minimum wage would have little or no impact on their businesses. "In a tighter labor market, they already raised wages to be competitive," said Stuart Hoffman, chief economist for PNC Financial Services Group.
It's a good first step. And I think it's the first piece legislation the Democrats promised to push through during the 2006 campaign that has actually been passed. I wish they had a larger majority in the Senate...
Comments
That's why we need to raise the minimum wage to $10/hour in that same time frame instead.
That's never going to happen. But maybe they could continue raising it 70 cents every summer until it reaches a living wage... They could probably even soften the negative impact by allowing the "guest worker" program and providing other exemptions for teenagers and the octogenarian greeters at Walmart.
Posted by: Jake![[TypeKey Profile Page]](http://poljunk.gloriousnoise.com/nav-commenters.gif)
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July 23, 2007 7:33 AM
Jake, I'm never going to get a pony, but that doesn't mean I don't want one. Or that it wouldn't be good for the country as a whole if I did get a pony... wait a minute... that doesn't make any sense. At all...
Posted by: Mike Visser | July 23, 2007 8:22 AM
But as a substitute for my proverbial pony, or raising the minimum wage to $10 by summer of 2009, a 70 cent per year increase in the minimum wage until it hits $10 may do the trick. That would put us there in about 2013. Still seems like a long time to get to a living wage, though.
Posted by: Mike Visser | July 23, 2007 8:49 AM
What kind of pony do you want? I can get you a pony. What color, etc?
Posted by: Paul | July 24, 2007 9:55 AM
Paul, that is a tremendous offer - thank you. I'd like a pony with black and white spotting, so I can call him Oreo. And he must smell like fresh cut flowers.
I think a more important question, though, is, can you get me a toe? With nail polish? By 3 PM today? That's what I really need.
Posted by: Mike | July 24, 2007 11:39 AM