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Monday, May 01, 2006

Raise the minimum wage

Robert Reich has a good suggestion. Democrats should propose an increase in the minimum wage and force the Republicans to vote it down before the November elections:

Message to Democrats: It's time to do it again. Current estimates are that 12 million Americans are at the federal minimum wage (now $5.15 an hour). Almost all the 1996 increase has been eroded by inflation. Democrats should propose increasing it to at least $7 an hour. Force Republicans to vote on it. If they refuse to, or they vote it down, make it a big issue in the fall campaign.

Contrast the plight of America's 30-million working poor with the fortunes of America's CEOs. The CEO of Exxon-Mobile just raked in over $400 million for his efforts last year. Assuming he worked a normal work week (not counting time on the golf course with members of his compensation committee), he got about $200,000 an hour....

In 1996, Republicans predicted that the raise from $4.25 to $5.15 would result in millions of job losses. But in fact, about 13 million new jobs were added to the American economy between 1996 and 2000. Earth to Congressional Democrats: Now's the time. Tenth anniversary. All the gain then now lost to inflation. 85 percent of Americans favor it. Mid-term election in the fall. It's a no-brainer.


[A hat tip to Brad DeLong]

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