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
- 30 months of college tuition at a public, 2 year college
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.
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