Increasing the Federal Minimum Wage: A Meaningful Investment

Raise the Minimum Wage (Photo credit: CT Senate Democrats)

There’s a lot of talk about increasing the federal minimum wage from $7.25 to $10.10 by 2016 – including its impact:

Approximately 16.5 million low-wage workers would directly benefit from the proposed increase Roughly 900,000 people living below the poverty line would move above the poverty threshold Both low-and-middle-income families’ incomes are projected to rise, 2.8% for the poorest families to .4% for middle-income families Employment would be reduced by about 500,000, or .3% of total employment Wealthy families with an average income of $180,000 can expect a .4%, or …read more