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applegrove

(122,932 posts)
Tue Oct 21, 2014, 09:53 PM Oct 2014

$10.10 Minimum Wage Would Save The U.S. Government $7.6 Billion A Year [View all]

$10.10 Minimum Wage Would Save The U.S. Government $7.6 Billion A Year

by Kevin Short at the Huffington Post

http://www.huffingtonpost.com/2014/10/16/minimum-wage-public-assis_n_5992458.html

"SNIP......................



Raising the federal minimum wage would save the government billions and have sweeping benefits for low-income families, according to a new analysis by the Economic Policy Institute, a think tank focused on labor issues.

EPI's report found that if the minimum wage were boosted from its current level of $7.25 per hour to $10.10, as proposed by the Fair Minimum Wage Act of 2014, more than 1.7 million Americans would no longer have to rely on public assistance programs. This would produce $7.6 billion per year or more in savings for the federal government, according to the study.

Millions of Americans, known as the "working poor," are unable to lift themselves above the poverty line despite working full-time, minimum-wage jobs. Increasing the minimum wage to $10.10 would mean that many of these people wouldn't have to rely on additional public subsidies to make ends meet.

Currently, half of all people earning under $10.10 per hour, roughly 11.9 million Americans, receive some form of means-tested benefits from the government, like the Earned Income Tax Credit, food stamps and others.



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Henry Ford himself later called the $5/ Day wage “the greatest cost-cutting move I ever made.” rafeh1 Oct 2014 #1
Germany lancer78 Oct 2014 #2
i said avg wage not minimum wage rafeh1 Oct 2014 #3
they also don't have crappy, shameful corporations like walmart and monsanto. redruddyred Oct 2014 #19
Excellent comment. Ford realized better-paid workers made better customers. tclambert Oct 2014 #15
Raise minimum wage. coos bay tom Oct 2014 #4
Hello bigwillq Oct 2014 #5
It sounds good for government savings. dotymed Oct 2014 #20
Would be a good shot in the arm... Wounded Bear Oct 2014 #6
shot in the arm coos bay tom Oct 2014 #8
First - welcome to DU! I hope you like it here. Kber Oct 2014 #13
Unfortunately, the people with the actual power... Wounded Bear Oct 2014 #16
The GOP apparently wants to continue to spend the money on public assistance and keep the wages low Thinkingabout Oct 2014 #7
You are too kind genxlib Oct 2014 #17
K and R bigwillq Oct 2014 #9
This argument cuts the legs off the whining bellyaching rightwing! Generic Other Oct 2014 #10
Well, if it would save the government 7.6 billion... malthaussen Oct 2014 #11
That's the argument by many wealthy, but that's not how it works in reality. herding cats Oct 2014 #12
Who you kidding Man from Pickens Oct 2014 #14
Message auto-removed Name removed Oct 2014 #18
The prices have been going up anyway. The masses can spend into competition if given a chance. Tikki Oct 2014 #22
You know how they have the grading letters in the front window of a restaurant or whatever...There needs to Tikki Oct 2014 #21
$10.10 is not enough to live on, you still need food stamps, Medicaid, etc. Dont call me Shirley Oct 2014 #23
It's possible to live on 10 bucks an hour. KentuckyWoman Oct 2014 #24
$20 an hour for a family of 3 or 4, is just barely squeezing by, paycheck to paycheck. Pray, pray Dont call me Shirley Oct 2014 #25
Totally agreed. KentuckyWoman Oct 2014 #27
We're advocating for 10 dollars? abelenkpe Oct 2014 #26
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