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To Fight Poverty, Raise the Minimum Wage? Or Abolish It?
The minimum wage has stagnated at $7.25 an hour for more than a decade. Is increasing it to $15 the best way to fight poverty?
Wednesday, March 17th, 2021
jane coaston
Today on The Argument, what’s the downside to paying people more? [MUSIC PLAYING] Among the most popular and blunt tools to fight poverty is a minimum wage, but it doesn’t actually do that. Because if you have a full-time job that pays the federal minimum wage of $7.25, you’re only making about $15,000 a year, not enough to rent a one-bedroom apartment in 95% of counties in the United States. Raising the federal minimum to $15 an hour is something progressives have been fighting for for years. They came close this month, but an amendment to raise the minimum wage was ultimately removed from Biden’s COVID relief bill. Is raising the minimum wage or having one at all the right way to battle poverty? I’m Jane Coaston, and I think it’s past ti
Congress returns to Washington D.C. this week to debate and work on the $1.9 trillion COVID-19 relief bill. Tacked onto the bill is a proposal to raise the Federal minimum wage to $15 an hour.
Minimum Wage Workers in 20 States Just Got a Raise moneywise.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneywise.com Daily Mail and Mail on Sunday newspapers.