Jul 25 – [A] The national minimum wage is $7.25 and last raised in 2007. In the seven se years since then, the private sector wages increased 10.2% and the Consumer Price Increase has gone up 9%. Now some in Congress want to increase the minimum wage by 40% to $10.10 per hour and tie the minimum wage to the cost of living. Had the minimum wage been tied to the cost of living in 2007, that wage would now be a penny shy of $8.00/hr. The propose minimum wage seems to have been taken out of thin air or on a whim, without any rational thought. Perhaps no one knows why this number is being proposed. Tying this number to the cost of living is not a bad idea. Congress did this with their own pay and uses that logic with social security payouts. I am not opposed to increasing the minimum wage but am only questioning the amount of this raise. If any of you, my friends, know why this $10.10 figure was chosen; please share this justification with us with a comment.
Posted on: Fri, 25 Jul 2014 23:36:56 +0000
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