10.2 Minimum Wage - Making Work Pay for New Yorkers The...

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Click to edit Master subtitle style Making Work Pay for New Yorkers: The Minimum Wage versus the Earned Income Tax Credit The 2004 Battle for an Increase in the New York State Minimum Wage
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Econ 101 – Professor Burkhauser The trouble with the world is not that people know too little, but that they know so many things that ain t so. Mark Twain
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Econ 101 – Professor Burkhauser The Fair Labor Standards Act of 1938 was the centerpiece of President Franklin Roosevelt s Second Inaugural Address urging Congress to help the one-third of Americans who were ill-housed, ill- clothed, and ill-nourished. (Roosevelt, 1937)
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Econ 101 – Professor Burkhauser Senator Edward Kennedy “The minimum wage was, as it should be, a living wage, for working men and women … who are attempting to provide for their families, feed and clothe their children, heat their homes, [and] pay their mortgages. The cost-of- living inflation adjustments since 1981 would put the minimum wage at $4.79 today, instead of the $4.25 it will reach on April 1, 1991. That is a measure of how far we have failed the test of fairness to the poor.” (Congressional Record, November 6, 1989, S14707).
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Econ 101 – Professor Burkhauser President Bill Clinton “I’ve studied the arguments and the evidence for and against a minimum wage increase. I believe that the weight of the evidence is that a modest increase does not cost jobs, and may even lure people into the job market. But the most important thing is, you can’t make a living on $4.25 an hour.” (The White House, 1995)
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Econ 101 – Professor Burkhauser “There are tens of thousands of New Yorkers who toil and struggle everyday to make ends meet, despite being employed. The state’s failure to institute a minimum wage that lifts families out of poverty has only moved those ends further apart.” (Silver, March 1, 2004) Assembly Legislation Raises Minimum Wages to $7.10
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Econ 101 – Professor Burkhauser The minimum wage provisions of the Fair Labor Standards Act of 1938 have been repealed by inflation Many voices are now taking up the cry for a higher minimum … Economists have not been very outspoken on this type of legislation. It is
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