The minimum wage debate is going on again in the US. Despite a refusal by a Republican Congress since 1997 to reopen the issue of the federal minimum wage, almost half the civilian workforce lives in states where the minimum wage is higher than the set federal wage of 5.15$/hour. Ohio is fighting to raise theirs, as reported in this article in the New York Times. Apparently, at least 2 million people, most of them students, young people, or persons with little qualifications, are being paid the minimum wage. Lawmakers don't wan't to raise it because they claim it will drive away jobs, especially in small businesses. Although statistics in the states that have a higher minimum wage don't prove this out. Some people think it should be raised to around 7 $. What is more worrying is the growing gap between rich and poor. A survey by the Institute for Policy Studies found in 2004 that the ratio of CEO pay to worker pay is 431:1. Previous postings mentioned shareholder activism to curb excessive executive pay and severance packages - maybe someday they will also demand to set the minimum wage is use in the corporations they own stock in...
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