Minimum wage

Amendment to Raise the Minimum Wage of 2006

hmoroz — Mon, 27 Jul 2009 14:41:44 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Number of American workers who would receive a direct wage increase as a result of this legislation: 7.3 million

Estimated number of additional workers who would see their wages pushed up by the “spillover effects” of a minimum wage increase: 8.2 million

Percentage of Americans who believe raising the minimum wage is an important priority for the country: 82

Percentage growth in the number of small businesses between 1998 and 2001 in states with a minimum wage identical to the federal level: 1.6

Percentage growth in the number of small businesses between 1998 and 2001 in states with a minimum wage higher than the federal level: 3.1

Percentage decline in the inflation-adjusted value of the minimum wage since 1979: 26

Overview/Summary

Middle Class Position Analysis

The Middle Class Supports. At less than $11,000 a year for a full-time worker, the federal minimum wage is a poverty wage. It is a rate at which it is impossible for working Americans to independently pay their rent, feed their families or get needed medical care—much less save for the types of investments that make it possible to work one’s way into the middle class, like an education, a first home or the chance to start a business.

Contrary to the stereotype of the minimum wage worker as a teenager with nothing to purchase but junk food and movie tickets, the typical minimum wage worker is an adult providing more than half of his or her family’s total earnings. According to the Economic Policy Institute, nearly half of families with a worker who would benefit from a minimum wage increase rely on that worker’s pay as the family’s only source of earnings. As numerous states have raised their minimum wages above the federal rate, economists have also had more opportunities to study the effects of minimum wage increases, concluding that raising the minimum wage does not lead to the loss of jobs as critics had threatened.

Quotes from Experts

Beyond this Bill

Additional Resources

“Nine Years of Neglect: Federal Minimum Wage Remains Unchanged for Ninth Straight Year,” from the Economic Policy Institute

“States with Minimum Wages above the Federal Level Have Had Faster Small Business and Retail Job Growth,” from the Fiscal Policy Institute

Vote To Raise the Minimum Wage without Cutting Estate Taxes of 2006

hmoroz — Mon, 27 Jul 2009 12:15:12 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Number of workers who would benefit from the minimum wage increase included in the Estate Tax and Extension of Tax Relief Act: 5.6 million

Approximate number of estates the estate tax reduction would benefit: 8,200

Percentage increase in the cost-of-living since September 1997: 26

Percentage increase in the federal minimum wage since September 1997: 0

Top estate tax rate and maximum exemption in 2001, respectively: 60%, $675,000

Top estate tax rate and maximum exemption in 2015 under the Estate Tax and Extension of Tax Relief Act: 30%, $5 million

Overview/Summary

Middle Class Position Analysis

The Middle-Class Supports. At less than $11,000 a year for a full-time worker, the federal minimum wage is a poverty wage. It is a rate at which it is impossible for working Americans to independently pay their rent, feed their families or get needed medical care—much less save for the types of investments that make it possible to work one’s way into the middle class, like an education, a secure home or the chance to start a business.

Contrary to the stereotype of the minimum wage worker as a teenager with nothing to purchase but junk food and movie tickets, the typical minimum wage worker is an adult providing more than half of his or her family’s total earnings. According to the Economic Policy Institute, half of families with a minimum wage worker rely on his or her pay as the family’s only source of earnings. As many states have raised their minimum wages above the federal rate, economists have also had more opportunities to study the effects of minimum wage increases, concluding that raising the minimum wage does not lead to the loss of jobs.

In contrast, the estate tax provisions which this vote aimed to remove from the bill will only benefit the wealthiest taxpayers. The estate tax is the most progressive component of the federal tax code and applies only to Americans lucky enough to inherit substantial fortunes. By taxing inherited wealth, the tax preserves the American tradition of rewarding hard work, not inherited privilege and wealth. According to the nonpartisan Congressional Budget Office, the estate tax provisions would cost approximately $267.6 billion between 2007 and 2016. This significant reduction would adversely affect aspiring middle-class and middle-class Americans by burdening them with more of the cost of public services while allowing accumulated wealth to be passed on for generations. Those who work for their money would be forced either to pick up a bigger share of the tax bill or to suffer cuts in services essential to middle-class families and communities.

Roll Call Vote 424 would strip the provisions that are detrimental to middle-class households from the legislation, while preserving the minimum wage increases that are critical to expanding the ranks of the middle class.

Quotes from Experts

Beyond this Bill

Additional Resources

“Nine Years of Neglect: Federal Minimum Wage Remains Unchanged for Ninth Straight Year,” from the Economic Policy Institute

“States with Minimum Wages above the Federal Level Have Had Faster Small Business and Retail Job Growth,” from the Fiscal Policy Institute

“Tax Topics: Estate and Gift Taxes,” from the Tax Policy Center

Fair Minimum Wage Act of 2007

atraub — Wed, 26 Sep 2007 16:41:56 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Proportion of small business owners who say a ten percent minimum wage increase would have a positive effect, or no effect at all, on their company: 4 out of 5

Full-time minimum wage pay before the increase went into effect: $10,712

Average pay of CEOs at the 500 largest U.S.-based companies in 2006: $15,200,000

Rate the minimum wage would be, if it had risen as fast as CEO pay since 1990: $22.61

Percentage of Americans who support raising the minimum wage: 80

Estimated number of American workers who would see their wages increase as a result of this legislation: 13,000,000

Overview/Summary

Middle Class Position Analysis

The Middle Class Supports: At less than $11,000 a year for a full-time worker, the federal minimum wage is a poverty wage. It is a rate at which it is impossible for working Americans to independently pay their rent, feed their families or get needed medical care—much less save for the types of investments that make it possible to work one’s way into the middle class, like an education, a first home or the chance to start a business.

Contrary to the stereotype of the minimum wage worker as a teenager with nothing to purchase but junk food and movie tickets, the typical minimum wage worker is an adult providing more than half of his or her family’s total earnings. According to the Economic Policy Institute, nearly half of families with a worker who would benefit from a minimum wage increase rely on that worker’s pay as the family’s only source of earnings. As thrity-four states have raised their minimum wages above the federal rate, economists have also had more opportunities to study the effects of minimum wage increases, concluding that raising the minimum wage does not lead to the loss of jobs as critics had threatened.

This version of the bill, without tax cuts for business, is significant because in the past ten years Congress showered businesses with hundreds of billions of dollars in tax breaks even as hardworking families earning the federal minimum wage received no raise at all, and in fact saw their paychecks eaten away by inflation.

Quotes from Experts

Beyond this Bill

Additional Resources

“Minimum Wage Laws in the States,” from the United State Department of Labor

“Minimum Wage Issue Guide,” from the Economic Policy Institute

The AFL-CIO on the minimum wage

Let Justice Roll Living Wage Campaign

Fair Minimum Wage Act of 2005

atraub — Mon, 24 Sep 2007 14:21:38 -0400

Legislation

The middle class

Supports

Video Summary

Injustice Facts

Number of American workers who would receive a direct wage increase as a result of this legislation: 7.3 million
Estimated number of additional workers who would see their wages pushed up by the “spillover effects” of a minimum wage increase: 8.2 million
Percentage of Americans who believe raising the minimum wage is an important priority for the country: 82
Percentage growth in the number of small businesses between 1998 and 2001 in states with a minimum wage identical to the federal level: 1.6
Percentage growth in the number of small businesses between 1998 and 2001 in states with a minimum wage higher than the federal level: 3.1
Percentage decline in the inflation-adjusted value of the minimum wage since 1979: 26

Overview/Summary

Middle Class Position Analysis

Contrary to the stereotype of the minimum wage worker as a teenager with nothing to purchase but junk food and movie tickets, the typical minimum wage worker is an adult providing more than half of his or her family’s total earnings. According to the Economic Policy Institute, half of families with a minimum wage worker rely on his or her pay as the family’s only source of earnings. As seventeen states have raised their minimum wages above the federal rate, economists have also had more opportunities to study the effects of minimum wage increases, concluding that raising the minimum wage does not lead to the loss of jobs.

Minimum wage

Amendment to Raise the Minimum Wage of 2006

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Related Blog: Header

Quotes from Experts

Related Blog: Text

Beyond this Bill

Related Blog: Link

Additional Resources

Vote To Raise the Minimum Wage without Cutting Estate Taxes of 2006

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

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Quotes from Experts

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Beyond this Bill

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Additional Resources

Fair Minimum Wage Act of 2007

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Related Blog: Header

Quotes from Experts

Related Blog: Text

Beyond this Bill

Related Blog: Link

Additional Resources

Fair Minimum Wage Act of 2005

Legislation

The middle class

Video Summary

Injustice Facts

Overview/Summary

Middle Class Position Analysis

Related Blog: Header

Quotes from Experts

Related Blog: Text

Beyond this Bill

Related Blog: Link

Additional Resources