Minimum Wage in the USA: It's a Living?

Finally!  After 10 long years the federal minimum wage in the United States is raised. The new federal minimum wage from $5.15 to $5.85 took effect July 24, 2007. Two more raises are scheduled: $6.55 on July 24, 2008 and $7.25 on July 24, 2009.

Yes, there has been much debate about this issue.  But the fact remains that at the 5.15 level, even working full time the worker's family would most likely be living below the poverty line, and perhaps forced to seek government or charitable aid.  Raising the minimum wage helps narrow the gap...provide encouragement and hope to those at this lowest rung of the economic ladder.

A few minimum wage facts: 

In 2002, approximately 2.6 million full-time, year-round workers lived in poverty.

- Nearly 75% of all minimum wage earners are adults (20 years and older).

- 40% of minimum wage earners are the sole breadwinners in their families.

- A full-time worker on the previous federal minimum wage (5.15) earns approximately $10,712 a year, $1,778 below the 2004 poverty line for a family of two, $4,958 below the poverty line for a family of three, and $8,138 below the poverty line for a family of four.