Tuesday, March 12, 2013

Costco CEO pushes for minimum wage hike

Craig Jelinek 
How many big-time U.S. corporate CEOs are so far backing the push for a higher federal minimum wage? Exactly one: Craig Jelinek, the top exec at Costco.
Jelinek is working with Business for a Fair Minimum Wage, an advocacy group that last week applauded a new legislative initiative in Congress that would hike the current $7.25 minimum to $10.10.
What might get more CEOs behind a higher minimum wage? One suggestion surfaced last month in the American Prospect: Create a new federal income tax bracket for income over 25 or 50 times the minimum wage, with a tax rate on that income well above the current top 39.6 percent federal rate.
With that linkage in place, CEOs might have an incentive to hike pay for their lowest-wage workers, not just exploit them.

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