Three years ago, I had plans to run for President with the goal of ending poverty, and one of my key strategies was raising the federal minimum wage to $45/hour. Here's a quick breakdown of how I see it working:
Currently, the federal minimum wage is $7.25/hour. Raising it to $45/hour would mean an increase of $37.75/hour for minimum-wage workers. For a full-time employee (working 2,080 hours/year), that’s an additional $78,520 annually. With about 1.1 million workers earning minimum wage, the total increase in wages would cost employers approximately $86.37 billion per year (assuming all minimum-wage workers are full-time).
I plan to make a YouTube video soon where I’ll go into more detail about this plan and other ideas to tackle poverty. I’d love to hear your thoughts, opinions, or concerns! Let's discuss this together.
Currently, the federal minimum wage is $7.25/hour. Raising it to $45/hour would mean an increase of $37.75/hour for minimum-wage workers. For a full-time employee (working 2,080 hours/year), that’s an additional $78,520 annually. With about 1.1 million workers earning minimum wage, the total increase in wages would cost employers approximately $86.37 billion per year (assuming all minimum-wage workers are full-time).
I plan to make a YouTube video soon where I’ll go into more detail about this plan and other ideas to tackle poverty. I’d love to hear your thoughts, opinions, or concerns! Let's discuss this together.
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