What Will a Higher Minimum Wage Buy?
I thought these were some interesting numbers given by the office of Senator Ted Kennedy (D-MA) when discussing the real difference that the expected increase in the minimum wage under a Democratic Congress will mean for low-income Americans. Raising the minimum wage to $7.25 an hour will mean an additional $4,400 a year to minimum wage earners and their families.
According to Senator Kennedy's office, this would be enough money for a low-income family of three to buy:
- Over two years of health care
It's amazing that the Republican party, which has fought tooth and nail for more tax cuts for the wealthiest Americans, would consistently stand in the way of such a meager wage increase for working families.
- 30 months of college tuition at a public, 2 year college