Raising the minimum wage nationwide will increase earnings for millions of workers, and boost the bottom lines of businesses across the country.
Today, the real value of the minimum wage has fallen by nearly one-third since its peak in 1968. And right now, a full-time minimum wage worker makes $14,500 a year, which leaves too many families struggling to make ends meet.
Many businesses are already paying their workers higher wages, which they see as the right way to boost productivity, reduce turnover and increase profits.
A higher minimum wage can raise earnings and reduce poverty, which is why 21 states plus DC already have minimum wages above the current federal minimum wage of $7.25. Additionally, Delaware recently passed a law to raise its minimum wage that will go in to effect later in 2014.
It would be a much needed increase in wages to offset the amount of inflation that has been incurred over the last 30+ years. The real minimum wage should be in the high teens or low twenties.