PROGRESS AND PROMISE
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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