Raise the minimum wage to $10.50/hour, the 1968 rate adjusted for inflation. Urge legislators to co-sponsor Congressman Alan Grayson's proposed legislation (HR 1346) to raise the minimum wage to $10.50 per hour. The 'Catching up to 1968 Act of 2013' will index minimum wage to inflation.
Why is this important?
Corporate profits are at an all-time high, and wages at an all-time low. Though productivity has increased 99% over 4 decades, wages have stagnated, increasing only 4%. Workers don't enjoy the rewards of their increased productivity, while corporate CEOs make out like bandits.
Even as CEO compensation has skyrocketed over 900 percent, the minimum wage has lost one-third of its value over the past 45 years. Adjusting minimum wage for inflation since 1968, 30 million U.S. minimum wage workers would be making $10.56 instead of the current $7.25 per hour. Raising the minimum wage to $10.50 would provide important economic stimulus.
