1 result for tag: time to raise minimum wage


Col Owens: It’s time to raise the minimum wage, the single most effective way to undergird our economy

From nkytribune.com / Feb 26th, 2020 recognized that a robust market for goods and services requires consumers with the means to purchase them. The minimum wage is the single most effective public policy for ensuring that low-wage employers compensate employees more adequately. It also helps to undergird our economy, which is 70% dependent on consumer spending. The minimum wage was enacted in 1938 as part of the New Deal. The initial level was $.25 per hour – over $4 in today’s dollars. It increased in value until 1968, when it reached $10 in real dollars, 99% of the poverty level. It then began to erode. Since 1989 it has averaged 60% ...