(CNN) - Vice President Joe Biden continued the Obama administration's call for an increase in the minimum wage for all workers.
Biden's Saturday address comes after President Barack Obama announced in February that in 2015 businesses with new or renewed federal contracts will have to pay their minimum wage workers $10.10 an hour.
Obama mandated the increase through executive order. It will likely affect fewer than 500,000 workers, but the hope is it will spur Congress to approve the same increase for all workers.
In his address, Biden urged Americans to call their representatives in Congress who oppose the minimum wage increase.
"The big difference between giving a raise in the minimum wage instead of a tax break to the very wealthy is the minimum wage worker will go out and spend every penny of it because they're living on the edge," he said.
"They’ll spend it in the local economy. They need it to pay their electric bill, put gas in their automobile, to buy fundamental necessities. And this generates economic growth in their communities."
Biden hasn't given the White House weekly address since 2011 when he urged Congress to pass the American Jobs Act.
CNN's Dana Davidsen, Paul Steinhauser and CNNMoney's Jeanne Sahadi contributed to this report.
From CNN Politics
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Good old BIden always willing to spend other peoples money and doesn't give even 10% of his money to charity.
All the Dems want.....is to become dictators to us all.
When the minimum wage is raised everyone is going to complain about how their grocery bill has gone up 20%. Big Mac has gone up and everything else will be effected. When I was young these minimum wage jobs where meant as a starting point for your career not your career.
Why is this still being pushed so hard? It is first going to kill jobs. Second everyone making more than minimum wage will effectively get a pay cut. So all the hard work they put in to get paid more than minimum wage will be nullified because lazy people that think they are supposed to be able to support a family on minimum wage can feel better about not having enough ambition to move up.
For those of you whom think that raising the minimum wage is a "Win WIn" for everyone........you need to rethink your math.
It is not a win for the folks who have to pay for the rise in the cost of the product.
It is not a win for whomever gets fired due to higher costs at that company.
While I agree that the minimum wages need to go up – not at such a high rate to start with.
There are several other losses in it.......but you can just keep parroting what your supreme overlord tells you.
Once again Plugs Biden shows he has no business experience. Just more diversions from an inept admin. Raising min wage at this point with economy the way it is will only cause employers to off set the cost with less employees. I still cant believe how many Obumbles brown nosers don't get it
This is a clear and simple economic benefit to the nation and will help not damage small businesses
In the case of most fast food places the increase in labor cost from $7.25 to $10.10 would in most McD's be covered by an average 10 cents price up on the range of goods sold.
The idea that outlets will cut staff means service levels and turnover decrease as in fast food joins people wont wait. the McD system says they must not wait more than X time.
These retailers depend on footfall and reputation of the service and food quality.
Problem Repubs will not vote on it because it help dems now... after 2014 Nov if they win the hypocrites that they are will pass it PDQ.
Regards,
Hodgson.
Couldn't agree more. Providing the less fortunate more money will definitely stimulate local economies which in turn will increase corporate And company profits. In the US there is enough goods and services that it will not have an inflationary effect on the economy. Already there is huge amounts of waste, that instead would have been purchased. In fact when determining whether to raise the Min wage a calculation of total goods and service waste would be the good barometer to use. All that fresh food, and other perishables that end up in land fills instead of being purchased.
Lol! Even after the CBO released a report that raising the minimum wage would cost thousands of jobs, the Obama Administration still wants to push for it.
Whatever happened to the "laser-like focus on the economy and unemployment"? If the economy is doing well, the cost of living goes down. As a result, minimum wage is sustainable.
Instead, raise the minimum wage and companies raise prices and effectively EVERYONE gets a pay cut.
With job-killing programs like Obamacare and minimum wage increases, it is no small wonder that companies want to hire overseas instead,
Government has no business involving itself in what wages an employer pays. Raising the minimum wage increases the cost of goods and services. It's another form of income redistribution. Why not just set the minimum wage at $100 an hour? Raising the minimum wage will cause employers to lay people off and think twice before hiring new workers.
Like the GOP/Tea Folks even care how many jobs this would kill. we all know those people could care less. Its called fake hustle. The GOP/Tea Group of deep thinkers can't even remember how this country got in the mess in the first place. They seem to have memory lapses to all things related to Little Dubyah's Massive screw ups.
Government has no business involving itself in what wages an employer pays. Raising the minimum wage increases the cost of goods and services. It's another form of income redistribution. Why not just set the minimum wage at $100 an hour? Raising the minimum wage will cause employers to lay people off and think twice before hiring new workers. Biden and other libs want to make burger flipping pay the same as someone with a degree so all the illegal aliens will have a place to work.
Just came back from Dairy Queen, the thought that those high schoolers will make over $10 an hour, scares me to death.
Well. I am small employer. I have 7 part time employee. Most of them are college students and a few are not. I pay a little more than minimum wage. Some employee who have worked a few years are paid above $8.00. If the minimum is $10.10, how much I have to pay them? It is impossible to pay more than $10.10 for them. I rather fire all new employee and let them get more hours with minimum wages $10.10.
Joe is a tight wad with his personal wealth, as his tax form shows/ but tax payer dollars flow from him like water of a quacking duck. Does he have a forked tongue? . He is part of the dumbing down of America. Lead Actor.