From January 1, 2002 to September 18, 2013, tipped workers have lost: $17,386,082,433.37
This number continues to grow at the rate of $164.54/second.
The ticker describes the wages tipped workers have lost over the last decade because the tipped minimum wage was delinked from the minimum wage in 1996. It also accounts for the wages tipped workers have lost this year and last because there has not been an increase to minimum wage. The Fair Minimum Wage Act was proposed this March; this is the 1st time since 1996 that a federal minimum wage increase proposal has included the tipped minimum wage, currently just $2.13.
This number is based on the difference between:
1.) for 2013 – the difference between 70% of the minimum wage as proposed in 2013 FMWA and the average hourly wage earned by tipped workers earning below the 70% threshold in 2011 (CPS 2012)
2.) for 2012 – the difference between 70% of the minimum wage as proposed in 2012 FMWA and the average hourly wage earned by tipped workers earning below the 70% threshold in 2011 (CPS 2012).
3.) for 2002 – 2011 — the difference between 60% of the minimum wage and the average hourly wage earned by tipped workers earning below 60% of the minimum wage (CPS 2003 -2012)
Each multiplied by the number of workers earning that hourly wage per year.
Multiplied by actual total weeks worked at that hourly wage.
Multiplied by usual hours worked per week.
All figures are adjusted for inflation (CPI).
Ticker countdown is based on total 2013 figure divided by number of seconds/year. 2013 amount is prorated year to date.
Miriam King, Steven Ruggles, J. Trent Alexander, Sarah Flood, Katie Genadek, Matthew B. Schroeder, Brandon Trampe, and Rebecca Vick. Integrated Public Use Microdata Series, Current Population Survey: Version 3.0. [Machine-readable database]. Minneapolis: University of Minnesota, 2010.