10 Reasons to Call for more than 10.10.
To me, the greatest single reason to call for a minimum wage of more than $10.10/hr is given in the article as reason Number Three: "If the minimum wage had kept pace with productivity, it would be $21.72 today."
Productivity is how societies become wealthy. Increases in productivity amount to increases in wealth. If workers wages do not keep up with gains in productivity, then the gains are not being shared with workers.
From the end of World War II to the beginning of the 1970s, the US saw the creation of the largest middle class in world history. This was made possible by roughly half of the gains in productivity over that period going to pay increases to workers. But since the early 1970s, worker's real incomes have been virtually flat and almost all the new wealth generated in the country has gone to the top 1% wealthiest people.
Comments?
PLEASE NOTE: Anyone concerned that raising the minimum wage would reduce employment would do well to read, Why Does the Minimum Wage have No Discernible Effect on Employment. Reading it first before offering your opinion that the minimum wage reduces employment might save you the embarrassment of looking like an ignorant fool.
To me, the greatest single reason to call for a minimum wage of more than $10.10/hr is given in the article as reason Number Three: "If the minimum wage had kept pace with productivity, it would be $21.72 today."
Productivity is how societies become wealthy. Increases in productivity amount to increases in wealth. If workers wages do not keep up with gains in productivity, then the gains are not being shared with workers.
From the end of World War II to the beginning of the 1970s, the US saw the creation of the largest middle class in world history. This was made possible by roughly half of the gains in productivity over that period going to pay increases to workers. But since the early 1970s, worker's real incomes have been virtually flat and almost all the new wealth generated in the country has gone to the top 1% wealthiest people.
Comments?
PLEASE NOTE: Anyone concerned that raising the minimum wage would reduce employment would do well to read, Why Does the Minimum Wage have No Discernible Effect on Employment. Reading it first before offering your opinion that the minimum wage reduces employment might save you the embarrassment of looking like an ignorant fool.
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