To the Editor:
It is time to raise the minimum wage to $10.50 an hour. Thirty million hard-working Americans need and deserve a raise.
Had the federal minimum wage kept pace with inflation since 1968, it would be $10.56 instead of today's $7.25 per hour.
In those 45 years, the minimum wage has lost one third of its value. At the same time, the average CEO compensation has skyrocket over 900 percent.
A report from the Economic Policy Institute shows that raising the minimum wage to $10.50 could add at least $60 billion in consumer spending to the economy.
A Chicago Federal Reserve study shows that for each dollar increase to the minimum wage, the result is $2,800 more in annual spending from that minimum wage workers' household.
Call Congressman Neal and Senators Warren and Markey at 202-224-3121 and tell them to raise the Federal Minimum Wage to $10.50.
Get off your seats, get on your feet, and get into the street on Labor Day Sept. 2. Join the stand out for Full Employment and a Raise in the minimum wage at City Hall in North Adams from 10 to Noon.
North Adams, Mass.
Aug. 28, 2013