Nearly 48 million (15%) of American citizens are struggling to survive below the poverty line. In 1938, the Fair Labor Standards Act was passed to stimulate the economy and lift Americans out of poverty. Had the act taken inflation into consideration, minimum wage would now sit near $10.76 per hour.
There are many, but one reason the change has not occurred is a fear that those receiving the increase are teenagers or secondary providers. Current 2013 statistics show that an estimated 84% of beneficiaries are over 20 years old - far from perfect, but not bad.
Worse yet, is the fear of an overall job loss. Nobel Prize winning economist Paul Krugman stated that these negative effects would be minimal, referring to an increase in minimum wage. If it is true that poorer individuals spend more of their income than do the wealthy out of necessity, an increase in wage should lead to increased consumer spending and growth.
With no added costs to tax payers, maybe it is time to help millions of full-time American workers out of poverty level incomes.