What Money Can't Buy

Progressive Massachusetts is committed to addressing the unsustainable level of income inequality in the Commonwealth – and a good way to begin is to raise the minimum wage.

Today, our minimum wage stands at $8 an hour — and it hasn’t been increased since 2008  - – five full years.  Think about it.  That’s roughly $16,000 a year.  Could you afford to live on that?

A recent report showed that in Massachusetts, the Fair Market Rent for a two-bedroom apartment would require an annual income of nearly $50,000 – or three minimum wage earners.  And the buying power of the minimum wage has declined because it hasn’t been pegged to inflation.  In 1968, the buying power of the minimum wage was $21,200 — 24% less than it is today.

 

We can and we must do better.

Progressive Massachusetts is joining progressive organizations from across the Commonwealth calling on the State House to raised the minimum wage from $8 to $9/hour, sixty days after passage of the bill, to $10/hour on July 1, 2014, to $11/ hour on July 1, 2015, and beginning in 2016, to adjust the wage for inflation.

580,000 lower wage earners, now earning $8-$12/hour, would benefit from this increase. They’d get $720 million more a year in increased wages and they’d spend it in our economy, which in turn would create thousands more jobs.  For more information about raising the minimum wage, check out our website.

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