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22 January 2008

Stand up for annual inflation adjustment for the wage floor

The following is a graph of the minimum wage since 1967, the average annual inflation rate since 1967, and the effect that said rate would have had upon the minimum had the minimum wage been adjusted annually since 1967. Note also that in years in which their was no minimum wage increase their was still inflation.

Can someone tell me in, logical and reasonable terms, why the minimum wage cannot be adjusted annually by the average annual inflation rate as quoted by the CPI? Notice also that had the minimum wage been adjusted by the annual inflation rate also note that the increase in most years would only have been fifteen to twenty cents, and the minimum wage in 2007 would be $7.85. Our minimum wage (commonly known as the wage floor) was just increased in 2007 to $5.85. This increase still leaves the floor lagging by $2.00 per hour!

As an extra added bonus, by adopting this method of increasing the minimum wage we would be removing all future minimum wage increases from the political arena. I think the working women and men of the United States deserve this initiative. It's the correct thing to do!!

Read this doc on Scribd: wage floor

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