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Economic improvement: Hike the minimum wage June 11, 2012

Posted by truthspew in Uncategorized.
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I saw the below:MinWage
I’ve said it on Facebook, twitter, here my solution to our economic woes:

1) Raise the minimum wage. Double it. RI for example wants to kick it’s minimum wage to $7.75 an hour. Doubled that would be $15.50 an hour. And while I’m at it, make the Federal minimum wage follow the most populous states minimum wage. Take the average, mean, mode, whatever you want, but tie it all together.

And looking at the above, it would be a full $7.50 below that. As of 2009 there were 980,000 at the prevailing minimum wage, 2.6 million of you count those making less than minimum (wait staff, etc.). So I’ll say a million people. Let’s also assume these are part time jobs at 20 hours a week. By hiking to $15.50 it means $310,000,000 as opposed to $155,000,000 – that’s more money injected into the local economy. Now if it were $23 an hour, it would mean $460,000,000 into the economy. It only gets better.

 

 

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