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xchrom

(108,903 posts)
Wed Sep 19, 2012, 06:54 AM Sep 2012

Our Disgraceful Minimum Wage

http://www.commondreams.org/view/2012/09/19


Recent studies show that increasing the minimum wage even during hard times is good policy, providing higher pay but no loss of jobs. (SOURCE: AP/ David Zalubowski)

In natural terms, our economy is a giant sequoia. Unfortunately, our present corporate and governmental leadership can't seem to grasp one of the basic laws of nature: You can't keep a mighty tree alive (much less have it thrive) by only spritzing the fine leaves at the tippy-top. The fate of the whole tree depends on nurturing the roots.


Sadly, we're led by a myopic crew of leaf-spritzers.

Elites in Washington, on Wall Street and in the corporate suites have taken exquisite care of themselves. Blithely oblivious to the dangerous shriveling of the roots, they've increased their take by offshoring our middle-class jobs, slashing American wages and benefits, busting the ability of unions to fight back, deregulating their nefarious corporate and financial operations, dodging their tax obligations, privatizing and gutting public services (from schools to food stamps), and turning our elections into auctions run by and for billionaires, thus robbing America itself of its unifying ethos: economic fairness and social justice.

One of the least excusable of today's injustices is that in this country of unsurpassed wealth, it's an abomination that the power elites are casually tolerating poverty pay as our wage floor. How deplorable that they can actually juxtapose the words "working" and "poor" without blinking, much less blushing.
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Nye Bevan

(25,406 posts)
1. Why does the article suggest raising it to $10 per hour?
Wed Sep 19, 2012, 06:56 AM
Sep 2012

Why not $20 per hour? What would the downside be?

dawg

(10,621 posts)
3. Raising the minimum wage is kind of like the Laffer curve ...
Wed Sep 19, 2012, 07:48 AM
Sep 2012

The Laffer curve, if you remember, is the Republican's explanation of how cutting marginal tax rates can actually generate *more* tax revenue instead of less. It's bullshit of course, but it is true at the extremes - like, for instance, if the tax rate was near 100%.

Same goes with raising the minimum wage. Within reason, raising the minimum wage will not hurt employment. But there is a point, beyond which, it will. There would have to be studies done in order to be reasonably sure, but I suspect that a sudden increase in the minimum wage to $20 would harm employment significantly unless there were some other mechanism in place to reimburse employers. (Especially smaller employers).

iemitsu

(3,888 posts)
4. i agree that america should be embarrassed by the number of people living in poverty here.
Wed Sep 19, 2012, 09:00 AM
Sep 2012

when romney points out the "47%" he acts as if these people were enjoying a free ride in a limousine. of course, most of us have never seen the inside of such a vehicle.
if nearly half of americans live at or below the poverty line then something is wrong with our economic structure and policies.
romney makes the strongest argument for income redistribution i can think of.

kentuck

(111,052 posts)
6. Cut the work week to 36 hours and raise minimum wage by 1/7th to compensate.
Wed Sep 19, 2012, 09:08 AM
Sep 2012

This would take care of those at the bottom and would create another 5-10 million jobs.

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