Jan 12, 2006 14:33
For more than EIGHT YEARS the federal minimum wage of $5.15 has not been increased. Since that time, inflation has eroded its value by more than 15 percent. Consequently, to have the purchasing power it had in 1968, the minimum wage would have to be $9.05 per hour today - an increase of $3.90. Minimum wage employees working full time, year round earn only $10,700 a year - $5,000 below the official poverty line for a family of three. In contrast, in the eight years since Congress last raised the minimum wage, your elected officials have raised their own salaries seven times.