While CEOs like Pepco’s Joe Rigby make millions and corporations like Pepco and Wells Fargo make billions, we are struggling to make ends meet. More and more middle class jobs have been replaced by low-wage work and millions of Americans have lost the chance to realize their dreams. In this economy, putting more money into the pockets of ordinary Americans is a no- brainer.
Putting more money into the pockets of ordinary Americans would give a much-needed boost to our economy. Small businesses would grow and hire, and we’d put our neighbors back to work.
The minimum wage can’t support our families. In D.C. the rate is automatically set at $1 above the Federal minimum wage rate, if the District of Columbia rate is lower. Full-time minimum wage workers in D.C. earn a total of $330.00 per week or about $17,160.00 per year. The federal poverty line for a household of two is $15,130 per year.
In Virginia and Maryland, the minimum wage is 7.25 per hour. It’s tied to the federal minimum wage. The minimum wage can’t support our families. $7.25 an hour, the federal minimum wage, amounts to only $15,080 a year. That’s more than $9000 below the federal poverty line for a family of four. People who work for a living should be able to support their families and live off their wages.
We get $7.25. They get 725%. The federal minimum wage hasn’t kept up with inflation, but CEO pay has risen 725% over the last 30 years.
We’ve got some catching up to do. If the federal minimum wage had kept up with inflation over the past 40 years, it would currently be at $10.55.
Sign our petition to our country’s elected officials, and we’ll deliver them during an upcoming day of action: