"I think raising the minimum wage constitutes treatment of the symptoms. Helpful, but it won't stop the erosion of household income, the steady drop in employment or any of the other social or economic ills."
...a couple of reasons. First, the fact that the minimum wage hasn't kept pace is a big part of the problem.
Starting in the 1970s, even as workers became more productive, their wages flattened out, while the costs of housing, health care and sending a kid to college, just kept going up and up. In 1980, the minimum wage was at least high enough to keep a working parent with a family of two out of poverty. Now, the minimum wage isn't even enough to keep a fully employed mother and a baby out of poverty -- and on Wednesday, Senate Republicans filibustered a bill to increase the federal minimum wage modestly.
http://www.democraticunderground.com/10024911911
Second, increasing it will have a spillover effect.
This policy would directly provide higher wages for close to 17 million workers by 2016. Furthermore, another 11 million workers whose wages are just above the new minimum would likely see a wage increase through “spillover” effects, as employers adjust their internal wage ladders. The vast majority of employees who would benefit are adults in working families, disproportionately women, who work at least 20 hours a week and depend on these earnings to make ends meet. At a time when persistent high unemployment is putting enormous downward pressure on wages, such a minimum-wage increase would provide a much-needed boost to the earnings of low-wage workers.
http://www.epi.org/minimum-wage-statement/The higher the wage, the more impact it would have.
The Minimum Wage Index: Why the GOP's Filibuster Will Hurt Workers
http://www.democraticunderground.com/10024911713
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