NEW DOCUMENT: Senate Millionaires Against Raising The Minimum Wage

Last night, the Senate rejected a bill that combined the “Paris Hilton tax cut” with an increase in the minimum wage, dealing a blow to conservatives who thought they had “outfoxed” their opponents.

Senate Majority Leader Bill Frist (R-TN) continued to resist calls for a straight vote on the minimum wage. “These issues must be addressed as a package, all or nothing,” he said. Unsurprisingly, conservative Senate leaders pushing hardest for further cuts in the estate tax are multimillionaires themselves.

For example, Frist boasts assets between $10,584,000 and $39,260,000 in blind trusts. If one were to work a normal 40-hour week for 52 weeks a year for minimum wage, it would take between 988 and 3,665 years to amass Frist’s fortune. While Frist has stringently supported large tax cuts for fellow multimillionaire trust babies and annual $3,300 pay raises for himself and his Senate colleagues, he has thus far refused to give a small raise to the nearly 8 million Americans who live on $5.15 an hour.

Read our new report on the Senate millionaires who are fighting against a straightforward vote on the minimum wage.