A raise of the federal minimum wage is one of those common-sense proposals that is both good for the economy and good for the country. Considering there has not been an increase since July 2009, workers who depend on these wages have been losing income to inflation for over four years. A raise is long overdue.
Today's minimum wage is 22 percent below its late 1960s peak, after adjusting for inflation. Raising it to the $10-an-hour range would help to offset some of the unfavorable trends facing low-wage workers, including stagnant or falling real wages and inadequate bargaining power that leaves them solidly on the "have-not" side of the inequality divide.