In President Obama's 2014 State of the Union, the issue of moving the minimum wage closer to a living wage was deemed a top priority by the administration. I have had a few ideas for ensuring a more sustainable minimum wage by tying it to other monetary values. Here are two options:
- Political Contribution Limits: I propose that annual political contribution limits should be legally tied to the Federal minimum wage. Specifically, individuals and corporations should not be allowed to give annual political contributions that exceed the weekly salary of someone earning the minimum wage and working full-time. To be clear, the limit to political contributions for individuals and corporations should be the limit for the total amount of contributions to all PAC's, candidates, parties, etc. This would serve a dual purpose of limiting the money in politics and provide an incentive to keep the minimum wage at a reasonable level.
- Congressional Salaries: I propose to set the minimum wage as 12% of the standard Congressional salary. In 2014, the annual Congressional salary is $174,000, which would mean that someone working full-time and earning the minimum wage would earn $20,880 annually. In other words, the hourly minimum wage would be $10.04! This would also ensure that the minimum wage would be regularly adjusted (unless members of Congress turn down their own annual raises).
Cheers,
Sean
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