A video from MoveOn.org starring Robert Reich explains why the federal minimum wage should be raised to $15 an hour, not just $10.10 as has been proposed.
These are the seven reasons Reich gives for raising the minimum wage:
Had the minimum wage been raising to keep up with inflation, it would already be well over $10.10. Additionally, Americans are twice as productive as they were in the 1960s.
Minimum wage, even at $10.10 is not enough to raise Americans out of poverty or relieve the burden on government programs. Leaving the minimum wage at $7.25 or failing to raise it to $15 an hour leaves many Americans still in poverty.
Many employers are taking advantage of government programs and refusing to compensate employees accordingly. Instead, these corporations train their employees to file for subsidies. If the GOP really wants to get people off of government subsidies, the best way to do that is to get corporations to adequately compensate their employees.
It will create more jobs.
Fierce competition will keep prices down. It has been argued that increasing wages will cause companies to raise their prices. This is not true.
Democrats should be pushing for more than the $10.10 proposed by President Obama. Republicans are already wholly dismissive of the $10.10 proposal. If Democrats are going to expend political capital to try and obtain anything, they may as well try and get what the country needs.
As Reich says, “Raising the minimum wage to $15 an hour isn’t just smart economics, it’s the right things to do.