Poll: 75% of Respondents in Favor of Raising the Minimum Wage
The federal minimum wage has been $7.25 since 2009, despite pleas from organizations both within the U.S. and globally to raise the minimum wage to $15. President Joe Biden tried to incorporate raising the federal minimum wage to $15 an hour in the $1.9 trillion American Rescue Plan, but this measure ended up being dropped before the bill passed. Biden did, however, recently issue an executive order to raise the minimum wage from $10.95 to $15 for federal contractors. In addition, some individual states, cities and counties have implemented a $15 minimum wage, as have several major companies.
But not everyone is on board with raising the minimum wage, with some analysts believing that over 1 million Americans would lose their jobs. Research conducted by the Congressional Budget Office also found that an increase in the minimum wage would “reduce business income and raise prices” as companies pass on the higher costs of labor to consumers. In addition, it could slightly reduce the U.S.’s total output.
But, what do the American people think? According to a recent GOBankingRates poll of over 4,000 people that asked, “What do you think the minimum hourly wage should be in the United States?,” 75% of Americans are in support of raising the minimum wage. And the majority — 41% — are in favor of raising the minimum wage to $15 or more, with 27% of Americans in favor of raising it to $15 and 14% in favor of raising it to more than $15. An additional 34% are in favor of raising the minimum wage to $10 or $11.
The poll also found that 12% of Americans are in favor of keeping the minimum wage at $7.25, while 1% believe it should be even lower. And then there are those who don’t believe the U.S. should have a federal minimum wage at all, with 13% voting for this option.
Who’s in Favor of Raising the Minimum Wage?
The GOBankingRates poll looked at various demographics to determine which groups are more likely to support raising the minimum wage.
Homeowners vs. Renters
- Homeowners are less than half as likely as renters to support raising the minimum wage to more than $15.
- Homeowners are more likely than renters to believe that the U.S. should not have a federal minimum wage.
Men vs. Women
- Men are more likely than women to believe that the U.S. should not have a federal minimum wage.
- Women are more in favor of raising the minimum wage to $15 or more than $15.
Low- vs. High-Income Earners
- People who earn less than $50,000 per year are more likely to be in favor of raising the minimum wage to over $15.
- People who earn $100,000 or more are more likely to be in favor of keeping the minimum wage at $7.25.
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Methodology: An original poll posted to GOBankingRates collected responses from 4,162 people from March 8, 2021, to June 15, 2021. The poll asked respondents: “What do you think the minimum hourly wage should be in the United States?” GOBankingRates used CivicScience to conduct the poll. Results are unweighted. Demographic insights were discovered by comparing respondent profiles across a wide range of attributes. Data was analyzed on June 15, 2021.