To the editor of THE EAGLE:
It is time to raise the minimum wage to $10.50 an hour. Thirty million hard-working Americans need and deserve a raise. Had the federal minimum wage kept pace with inflation since 1968, it would be $10.56 instead of today's $7.25 per hour.
In those 45 years, the minimum wage has lost one-third of its value. At the same time the average CEO compensation has skyrocketed more than 900 percent. A report from the Economic Policy Institute shows that raising the minimum wage to $10.50 could add at least $60 billion in consumer spending to the economy. A Chicago Federal Reserve study shows that for each dollar increase to the minimum wage, the result is $2,800 more in annual spending from that minimum wage workers' household.
Contact Rep. Richard Neal (202) 225-5601 and Sens. Elizabeth Warren (202) 224-4543) and Edward Markey (202) 224-2742 and tell them to raise the federal minimum wage to $10.50.
Get off your seats, get on your feet, and get into the street on Labor Day, Monday, Sept. 2. Join those standing up for full employment and a raise in the minimum wage at City Hall in North Adams from 10 a.m. until noon. RICHARD DASSATTI
The writer is chairman of the local April 4th Coalition.