In his State of the Union talk Tuesday night, President Obama called for a minimum wage of $9 an hour—up from the current federal standard of $7.25.
(In Minnesota, workers not covered by the federal minimum wage can make as little as $5.25 an hour. Click on the PDF thumbnail to see how minimum wage works in Minnesota.)
Obama said a worker making the minimum wage earns $14,500 a year—below the “living wage” in many areas.
“Obama also proposed indexing it to inflation, so that when the cost of living goes up, so do earnings,” reported Huffington Post.
Said the president: “This single step would raise the incomes of millions of working families. It could mean the difference between groceries or the food bank; rent or eviction; scraping by or finally getting ahead. For businesses across the country, it would mean customers with more money in their pockets. And a whole lot of folks out there would probably need less help from government. In fact, working folks shouldn’t have to wait year after year for the minimum wage to go up while CEO pay has never been higher.”
Where do you stand on the minimum wage? Should all cities have a “living wage” ordinance?