Bernie Sanders defends $17 federal minimum wage, denies raising business costs.
Sanders Proposes $17 Federal Minimum Wage
Sen. Bernie Sanders (I-Vt.) has introduced a bill to raise the federal minimum wage to $17 per hour, more than double the current rate of $7.25. The proposal was unveiled to the cheers of various labor leaders outside Capitol Hill.
A Livable Wage for All
“It is time to pass a new livable wage,” Sanders said. He was joined by AFL-CIO President Liz Shuler, who said the increase would not burden large corporations, citing a leaked McDonald’s earnings call wherein the CEO says the company would do “just fine” under a $15 minimum wage.
Small Businesses Can Handle It
When asked if the increase to the federal minimum wage would disproportionately increase costs for small businesses, as opposed to corporations, Sanders rejected the premise. “[Small business] can handle it … we’re not increasing the cost of business,” he told The Epoch Times. “When these people are able to earn a living wage—you know what—maybe they’re going to be able to go out and buy a damn hamburger.”
A $17 Wage is Equivalent to $14.50 Pre-Pandemic
Sanders argued that the Democrats’ previous goal of raising the minimum wage to $15 was no longer sufficient, as the dollar’s purchasing power has eroded over time. Accounting for the recent spike in inflation, a $17 wage is roughly equivalent to $14.50 pre-pandemic.
Critics of the Increase
Critics of the increase say higher wages are a key contributor to rising inflation and that such policies will only worsen the problem for low-income wage-earners. “What’s causing the dollar to lose its purchasing power?” said 2024 Libertarian presidential front-runner Dave Smith during an episode of his podcast last week. “[Sanders] just seems to have no thought, ‘Oh yeah, there actually might even be a connection between the policies you advocate for and the fact that inflation is destroying the purchasing power of the dollar.’”
The Current Federal Minimum Wage
Although many states have raised their minimum wages in recent years, the federal rate of $7.25 still applies in the 20 states that do not mandate a higher minimum wage.
- Sanders proposes raising the federal minimum wage to $17 per hour
- AFL-CIO President Liz Shuler says the increase would not burden large corporations
- Sanders rejects the premise that small businesses would be disproportionately affected
- A $17 wage is roughly equivalent to $14.50 pre-pandemic
- Critics say higher wages contribute to rising inflation
- The federal rate of $7.25 still applies in 20 states
Join the conversation: Do you support raising the federal minimum wage to $17 per hour? Why or why not?
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