The minimum wage, Popular with the public, but not the donor class
by Bill - 2013-04-03 - in life/money/employment
One of the best proposals to come out of the State of the Union was the President's proposal 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.
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