Businesses Can’t Afford The Proposed $10-Per-Hour Minimum Wage

8 Jun

Originally posted on CBS New York:

The Right Politics

U.S. Rep. Jesse Jackson Jr. from the South Side of Chicago is introducing a $10-per-hour minimum wage across the nation. As a representative, he introduced the measure to his fellow-congressmen in the House yesterday.

It has been five years since the federal minimum wage has been raised. The employees affected are those that are covered by federal minimum wage laws. In 2007, it was set at $7.25 which means Jackson is asking the lawmakers to boost the minimum wage approximately 38% over the five-year period. Though some may argue that an increase is overdue, $2.75 in five years is a huge increase.

The Fair Minimum Wage Act of 2007 was designed to increase salaries in three steps. The last step increased wages on July 24, 2009. When passed, the Act of 2007 was a rider of the U.S. Troop Readiness, Veterans’ Care, Katrina Recovery, and Iraq Accountability Appropriations Act. That…

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