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Business leaders support raising federal minimum wage

08.28.13

AUGUST 2013, Scranton/Wilkes-Barre/Hazleton Edition of The Union News

Business leaders support raising federal minimum wage

BY PAUL LEESON
THEUNIONNEWSSWB@AOL.COM

REGION, July 25th- Not all business people are against the federal government raising the minimum wage and they recognize that if American workers and their families are to have the buying power neccessary to make the economy strong, the wage must be increased.

Business owners have urged a minimum wage increase to strengthen the economy as on July 24th, marked the fourth year since the last increase in the federal minimum wage.

“I want my employees concerntrating on our customers, not worrying how they will afford to pay rent or put food on their own table. We’ve paid our employees more than the minimum wage from the day we opened, and that’s helped our business succeed. we have low turnover, which saves us money and improves productivity and quality. If my small restaurant can pay higher entry wages, certainly the big chains can too,” said Amanda Rothschild, Co-Owner and Manager of Charmington’s cafe in Baltimore, Maryland, who spoke at the Capitol Hill Press Conference regarding the raising of the wage.

The current federal minimum wage is $7.25 and is lower than it was in 1956 at $8.58 when adjusted for inflation.

Today’s minimum wage workers have far less buying power than their counterparts did in 1968 when the minimum wage was at its highest value of $10.74 in 2013 dollars when adjusted for inflation.

“Employers who pretend they can’t pay a minimum wage equivalent to what their counterparts paid in the 1960s should be ashamed of themselves. Fair wages are part of the formula for success at my company, the worlds leading manufacturer of ultraviolet equipment and fluorescent materials. Raising the minimum wage will help America succeed,” said Jon Copper, the Owner of Spectronics Corporation in New York, who also appeared at the Washington, DC press conference.

The Business for a Fair Minimum Wage, a national network of business owners and executives who believe a fair minimum wage makes good business sense, are lobbying legislators and other business owners to request that the federal minimum wage be increased.

The group want the current $7.25 an hour minimum wage increased to $10.10 in three annual steps of 95 cents each and then provide annual adjustments for inflation.