30 Million Workers Would Benefit From Raising Minimum Wage to 1968 Level

In 2008, Barack Obama pledged to raise the minimum wage every year once elected, but the hourly rate of $7.25 hasn’t increased since 2007. Low-wage workers now make far less than they did four decades ago. Last week Illinois Democratic Rep. Jesse Jackson Jr. introduced The Catching Up to 1968 Act of 2012. It draws its name from the idea that the federal minimum wage would be $10.55 an hour now if it had kept up with inflation over the past 40 years. ... Full Story »

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Randy Morrow
4.2
by Randy Morrow - Jun. 19, 2012

Many economists say more jobs could be created by generating more consumer demand. Well, a new bill introduced by Illinois Democratic Congressmember Jesse Jackson Jr. aims to do that by increasing minimum wage for the first time since 2007. He says the increase could generate tens of billions of dollars in spending by poor families and workers almost immediately. —- The U.S.’s federal minimum wage is lower than all Western countries. Ontario in Canada has a minimum wage of $10.25. —- So here we have this gross inequity where workers in Wal-Mart are making $8, $9, $10 an hour before deductions, with hardly any health insurance, and their boss, the CEO of Wal-Mart, is making $11,000 an hour, eight hours a day. So you can see it’s a great, powerful, fair-play political message if the Democrats would rise up. —- So, this is basically an issue that reflects the craven, cruel nature of the Republican Party on Capitol Hill, but it also reflects the caution, the cowardliness, the betrayal of the Democratic Party of its core constituency. Historically, this would be a no-brainer.

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