“Let’s tie the minimum wage to the cost of living, so that it finally becomes a wage you can live on.”
– President Obama, State of the Union Address
With these words a new policy direction was announced. It’s not a small move, especially since it’s both the biggest effort to combat the Depression since the Stimulus Act and the biggest challenge to Republicans outside of the budget negotiations (which largely go nowhere). But for many progressives a higher minimum wage is long overdue. Even more important, linking it to a “living wage” sets a precedent that has not been a part of policy in most of my advancing lifetime.
How does this go down? It’s a fight we haven’t seen for a while, so it’s hard to tell. But it’s very popular and backed by solid research as a sound public policy. If only it went even further …