Take a look at this chart that shows the dire need to boost the federal minimum wage.
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Friend,
Each day this week, we’re bringing you a "top 5 chart" that reflects the state of our economy. Earlier this week, we focused on Social Security―the most successful anti-poverty program ever created in the history of the U.S; our next chart highlighted the massive number of people who continue to struggle to make ends meet during this terrible pandemic.
Today we are focusing on the dire need to increase the federal minimum wage.
Take a look at this chart ([link removed]) : Back in 1963, the March on Washington for Jobs and Freedom demanded a federal minimum wage that would be the equivalent, in inflation-adjusted terms, of almost $15 an hour today. But because of the repeated failure of federal policymakers to act, the federal minimum wage has failed to even keep up with inflation and remains stuck at $7.25 per hour—less than half of that 57 year-old goal.
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The Trump administration—supposedly a populist champion of the working class—managed to get a corporate tax cut done early in the administration but never lifted a finger to raise the minimum wage. Taking action today to raise the minimum wage to $15 by 2025 would restore bargaining power to workers during the pandemic recovery.
EPI is fighting every day for progressive economic change to help working people and families. Increasing the federal minimum wage to $15 an hour is critical to the economic survival of millions of working people. If you value EPI’s research, please consider a donation today. ([link removed])
Thanks for all you do to fight for an economy that works for all of us, not just the wealthy few.
Thank you,
Eve Tahmincioglu
Director of Communications, Economic Policy Institute
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