Minimum Wage must be indexed to inflation
by bay of arizona, Wed Jun 17, 2009 at 11:05:58 AM EDT
The current minimum wage is 7.25. This was done by the Democratic Congress in 2007. But this is not enough. This has been the first time the minimum wage has increase in 10 years. Bill Clinton had to give a capital gains tax cut just to get it passed.
But that should not be necessary now. The minimum wage should increase along with the greater of CPI or wage growth. The latter is the formula used to index Social Security benefits. Since wages tend to increase more than inflation, it will offer a larger increase.
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