The Republicans would have you believe that if the Federal Minimum Wage is raised that inflation will soar. What proof do they offer? None. Offering no proof when a Republican speaks is nothing new. If they had statistics that would justify their position, don’t you believe that they would use it; they would be shouting it from the rooftops.
The law establishing a Federal minimum wage came about under FDR in 1933. Twenty nine states and D.C. have a higher minimum wage as well as many cities. The Federal rate has been raised 22 times by 12 different presidents. If as a result of raising the minimum wage, inflation had soared, what you would be hearing would be ‘In (insert year) the minimum wage was raised from (insert amount) to (insert amount) and it resulted in a (insert number) percent increase to inflation’. Everyday that isn’t said is because it is not true.
The CBO reports that 90% of workers earn more than the minimum wage. Of those that take entry level jobs at that rate, 2.7% still do not earn enough to be considered ‘above the poverty level.’ The CBO in 2014 reported that raising the minimum wage would reduce the number of people living in poverty by 900,000. Imagine the purchasing those people could do of basic needs – not luxury items, just basic needs.
Just think of the local businesses that would benefit from their increased spending power and a few less sleepless nights a parent would endure worrying about the choice of food or rent for their family. The last increase was in 2009. The GOP doesn’t want to help people ‘get out of poverty’, but they have always wanted to help the richest people and largest corporations.