According to a study by the Economic Policy Institute, raising the federal minimum wage from its current level of $7.25 an hour to $10.10 would save the government (taxpayers) approximately $7.6 billion a year for assistance programs such as SNAP, Medicaid, housing and cash assistance, and WIC.
Instead, people who currently make minimum wage, which are 88% adult (contrary to right-wing myths) and over the age of 20, fall below the federal poverty line if they have only one child. Of all of the people who rely on the government to get by, half of them make less than $10.10 an hour.
The Minimum Wage Act of 2014 would raise the current minimum wage to $10.10 an hour, and would also tie the wage to the rate of inflation, to keep those wage earners from continuing to fall behind. Yet, it has been stalled in Congress by Republicans.
It only makes sense for working and middle-class Americans to support raising the minimum wage, because if it stagnates at current levels, the tax burden of filling in the gap will fall upon them anyway. Why not have corporations, who have been posting record profits, do more of their part, instead of allowing their workers to live in poverty or rely on government funds, which are paid for by taxpayers?
It’s time for America to get a raise. Let’s stop footing the bill for corporations.