Real Value of the Federal Minimum Wage, 1968 to 2012

Real Value of the Federal Minimum Wage, 1968 to 2012

Public support for raising the minimum wage is striking. A recent poll found that nearly three-quarters of likely voters (73 percent) support not just increasing the minimum wage to $10 in 2014 but also indexing it to inflation, which would result in automatic increases even absent congressional action. Another poll found seventy percent of likely voters supported raising the minimum wage to $10.38.  In fact, a large majority of the general public (78 percent) believes that the minimum wage should be high enough so that no family with a full-time worker falls below the official poverty line. In contrast, only 40 percent of the wealthy support a minimum wage that keeps a family above the poverty line.

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