A fine example of the 1% leading the 99%, don't you think?
I believe that the ultimate answer is for a new labor movement with a whole new approach to this problem is in order. Instead of fighting the old fight of trying to convince business owners and government to pay workers more, workers of all levels...service and manufacturing sectors should follow the lead of what the US Steel Worker Union is doing and seek to form a hook-up to the successful Mondragon Corporation (MC). The MC employs about 90K people worldwide and the workers are the actual owners of MC. They set all of the rules re pay and stratums. They do not allow for the pay scale to exceed a 9 fold ceiling over the lowest paid worker. They provide awesome health care and they actually operate their banks.
What this means is that there is enormous potential to take the fight to a new ground where success can be realized. If enough people were to join in, or even form their own mirror co-owned operations, it would be big enough to swamp the current corrupt system and create a new model of economic mobility. It could be a regional effort, with its own reflective cultures and values, so as not to seem like it is just becoming another monolithic monster.
We also need to end the FED and its criminal interest for nothing robbery of our economy. We need to go back to debt-free money, not gold or silver backed (that doesn't work either), but just as the Constitution originally laid out.
So the conservatives are all for 30 year's worth of massive and endless tax cuts for the rich, over-funding the most massively over-bloated military on the face of the planet, subsidies to big corporations to send our jobs overseas, prohibiting the government from negotiating on prescription drugs to save money for Medicare ... but then they go full-on apoplectic because some folks at the bottom get a little extra to make their lives a little better.
Republicans are fond of saying. . .
"government doesn't work"
. . .and they're perfect examples.
Overheard at a surreptitiously assembled meeting of GOP pols:
"Boys, have you heard the bad news? The damn unemployment rate is down to seven percent now! And the GDP grew at an annual rate of 3.6 percent in July-September. THREE POINT SIX PERCENT, DAMMIT! What's more, of the 203,000 jobs created, many were in the construction and manufacturing industries! These ain't just some part-time, holiday-season jobs, boys. Even worse, 30,0000 of 'em were created in the healthcare industry! HEALTHCARE!!! DAMN! WE GOT SERIOUS PROBLEMS HERE! And you know what that means: We got to shut this government down! PRONTO! That's right, boys, c'mon, repeat after me: SHUT THIS PUPPY DOWN! SHUT THIS PUPPY DOWN! . . ."
Obama policies have taken the Bush unemployment of 10.2% and brought it down to 7% in less than 5 years.
Economists predicted 15% unemployment and a 10 year recovery.
If the Republicans had not pushed sequester we would be at around 6%.
I certainly don't think that this will lead to an "economic disaster". It just won't amount to any kind of income equality. While your investment facts are very interesting, they have nothing to do with the topic. My question for you is: With each of the 14 increases in the minimum wage did the McDonalds and Walmart employees ever feel like income equality was established? Did it ever actually increase their buying power in the long-term? Did it increase employment in their skill and wage level? No, no, and no. FACT.
The greatest freedom fighter of all time; he first belonged to South Africa and then to the rest of the world. Thank you Mr. Mandela for showing us what forgiveness is all about.
There is nothing more predictable than conservatives predicting economic disaster if the minimum wage is increased. Of course, it has risen from $1.60 in 1970 to $7.25 in 2013 and in those 43 years the major employers of minimum wage workers from McDonald's to Walmart have managed to thrive.
If you had invested $1000 in McD's in 1970, you would have about $300,000 today ... even with FOURTEEN increases in the minimum wage driving up their labor costs in the interim. That's a FACT.
Invest $1000 in WMT in 1970 and it would be worth about $1.6M today ... despite those minimum wage increases. FACT.
Not much of a disaster, huh?
The latest predictions of disaster are no more valid than those from the past.
I am an American, but most of my family lives in Australia. Australian minimum wage at fast food places like McDonalds in is $15.00 an hour. They also get four weeks paid vacation, and universal health insurance. The minimum wage is set each year by an independent "Fair Pay" commission that reviews all of the nation's economic data, and decides to either freeze it or raise it. It was $10 an hour in 2004, so it's gone up 50% in 9 years, while in the US it's gone from $6.55 to $7.25, and the GOP fought that raise, and in fact wants to lower it. Imagine that.
Things do cost more in Australia because those labor costs have to be passed on to the consumer. But the Aussies aren't complaining, because they make a livable wage. They'd rather pay more because they're paid more, then make slave wages and have no choice but to buy cheap goods like in the US. They have more dignity and self-respect because of that, and are much happier and less envious of the rich than their demoralized American counterparts. Also, Australia has experienced a recession in 22 years.
Labor is valued there, while only capital is valued in the US. And by the way there are many very rich Australians. America has a lot to learn about creating a broadly prosperous, more equitable society. But I don't think it will. It's too greedy and arrogant.
History has shown that minimum wage increases have had negative impacts on low wage/low skilled workers. Undeniably. There have been more than 30 time series studies done in the US since 1970 that have studied the correlation between minimum wage increases and employment for low wage/low skilled workers. The majority of them show a negative correlation.
I do not have a problem with simplicity and also brightening the short days of December with some colorful lighting and a bit of sparkle . It brightens my mood and fills my heart with cheer, which I can then give to others in a smile and with a message of love. I think Jesus would be okay with that.
I agree that the Affordable Care Act only prolongs the agony of our dysfunctional medical financing system. We need single-payer.
Who will be Palestine's first post-apartheid president?
And one more time folks,,, the law does not punish you for breaking the law it punishes you for being STUPID
History has shown that no minimum wage increase has ever raised unemployment. Despite increases in inflation, the minimum wage has not increased since 2010. Companies are making record profits while employee wages stagnate. We're not just talking about fast food workers, this also includes bank employees and employees working for companies making billions per year. Our government pays over $7 billion in benefits to minimum wage workers who cannot afford to put food on the table and provide health care for their children. Let the customers of those companies pay the full cost of the employees of the businesses they patronize.
"People will have more to spend. Historically [raising the minimum wage] is one of the best economic stimulators we've ever had," Evans said. "Economically it's great for big business. It's also incredibly good for smaller businesses."
If this statement is true why stop at $9 an hour. By this logic $25, $50/hr or even more will be even more benificial in helping economic growth. Too bad your kids will never be able to find a job because adults will have no reason to leave these simple jobs. After all, why go take a job that requires you to take on more responsibility and stress or pay for education when you can make the same money handing out happy meals. Every small start-up business I've seen can easily afford to pay their employees 15, 20 or 25 dollars an hour.
Here is how it plays out:
Minimum wages are increased. Minimum wage workers celebrate. Some make irresponsible impulse purchases, most plan responsible ways to spend their new money. Businesses that hire minimum wage workers immediately look for ways to offset increased costs. As labor is typically the largest cost input for employers, these businesses will layoff as many as they can. Some businesses will not lay off any, some will layoff several. Undoubtedly, there will not be an net increase in employment. Many businesses will not be able to layoff many, or any, workers and will proceed to pass on the new costs to the consumers. Inflation is now up.
So let's recap: Employment levels are down. Inflation is up, effectively eating away at least some, if not all of the purchasing power of their newly increased pay. So, ultimately, little has changed except employment is further down than before. Sure there will be a short period of very limited increased economic activity, but it will be undone and then some over time.
Low minimum wages are necessary! They are good for young people (primarily teens) to begin to work, and are useful in enticing people to gain additional skills/education in order to move on to better paying jobs. If these people were worth more money, they would be earning more money. But their jobs require little skill and there are plenty of people that can do it.
I'm not a fan of the current state of income inequality, but this is not the way to fix it. This is a social problem that can not be fixed by legislating higher incomes.
Go ahead and dislike my comment. It doesn't make it any less true. It just makes you a fool with your head in the sand.
I loved the play for its cleaver way of putting it together. Tom Ford was wonderful. I think the reviewer was off. I recommend all to go see it. I'm returning! Think the critic is full of himself.
Hmm, well let's see....the middle class is eroding, workers make less than their parents did...(yet corporations have record levels of cash), AND the U.S. is not a family friendly culture to begin with.
Try telling your boss you have to leave early to watch your kid's soccer game.
We're #1, We're #1.....
But hey...at least I can buy shiny baubles 364 days a year to dull my depression.
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