The Economic Policy Institute estimates a federal minimum wage raise to $10.50 would raise the wages of over 30 million workers, stimulating the economy by $32.6 billion. Also, the Chicago Federal Reserve estimated in 2011 that for every dollar increase in the hourly pay for a minimum wage worker would result in $2,800 in new consumer […]
Raising the federal minimum wage would have a “spillover effect” to different parts of the economy. As wages grow, other parts of the economy will see A study by the Economic Policy Institute found that by raising wages for the working class, there would be an increase in social security contributions, leading to more money […]
Companies that pay over the federal minimum wage are thriving. Costco, the third largest retailer in the United States, has a starting wage of $11.50 an hour and provides healthcare. Costco has the lowest amount of employee theft, higher worker productivity and half the employee turnover rate of Wal-Mart, creating a more stable work environment. And […]
Wal-Mart teaches employees benefit from the taxpayer funded social safety net, despite making $16 billion in profits last year. Because of this, taxpayers and small businesses foot the bill for low-wages paid by a profitable corporation. In 2014, the low wages of profitable companies cost American taxpayers $153 billion in public assistance programs, with the majority […]
A poll from the National Employment Law Project has showed that 75% of Americans support increasing the minimum wage to $12. According to the American Sustainable Business Council, 61% of all small business owners support raising the minimum wage. 53% of Republicans and 71% of Independents support raising the minimum wage to at least $10.10 an hour. A […]
A 2013 study by the Chicago Federal Reserve showed that increasing the federal minimum wage to $9.00 an hour would increase the GDP by $22 Billion annually. As wages are raised, people are more likely to spend money, which means higher corporate profits and a higher GDP.