By Andrew Bloomenthal
Investopedia, Updated Aug 4, 2019
... Since 2009, the federal minimum wage has been $7.25, or $15,080 a year. Many economists believe this is woefully inadequate and unjust. ... Groups like Small Business Majority, Main Street Alliance and Business for a Fair Minimum Wage also support a higher wage, which they believe will inspire employee loyalty and boost workplace morale, which leads to more satisfied customers and an increase in consumer spending.
The Real Issue: Who Can Survive on Today's Minimum Wage?
The minimum wage is meant to be a living wage. In 1933, five years before the first minimum wage became law, President Franklin Delano Roosevelt said: “By living wages, I mean more than a bare subsistence level. I mean the wages of a decent living.” ...