Muse Spark 1.2Oct 164 citationsLeans yes
Does the minimum wage need to keep up with the cost of living?
Should minimum wage track living costs? I'll examine the arguments and evidence for indexing pay to inflation.
Yes - if the purpose of the minimum wage is to be a living wage - it needs to keep up with the cost of living to maintain its purchasing power. Whether it should be designed that way is debated.
1. What the minimum wage was designed to do
The Fair Labor Standards Act of 1938 which cre