minimum wage – Speak Your Mind https://indianapublicmedia.org/speakyourmind/ Speak Your Mind from WFIU Mon, 20 Mar 2017 13:00:12 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.12 Just another Indiana Public Media weblog minimum wage – Speak Your Mind minimum wage – Speak Your Mind ebinder@indiana.edu ebinder@indiana.edu (minimum wage – Speak Your Mind) Copyright © Speak Your Mind 2010 Speak Your Mind from WFIU minimum wage – Speak Your Mind https://indianapublicmedia.org/speakyourmind/wp-content/plugins/powerpress/rss_default.jpg https://indianapublicmedia.org/speakyourmind/ Poverty And The Campaign Trail https://indianapublicmedia.org/speakyourmind/poverty-campaign-trail/ https://indianapublicmedia.org/speakyourmind/poverty-campaign-trail/#respond Thu, 03 Mar 2016 13:00:43 +0000 https://indianapublicmedia.org/speakyourmind/?p=646 Exit polls from the recent New Hampshire primary show that 80-90% of the voters are worried about the economy. They’ve been deliberately misinformed, but no candidate seems to have a sensible way to deal with their concerns. That is why they voted for extremists left and right.

The American economy has been growing at less than 2% per year. Productivity, which leads to higher wages, has grown at less than one percent, accounting for the very slim raises the last year or so.

Of the growth that has occurred, most of it has gone to the top 10% of taxpaying families, who now take one-half of all income reported in this country. Bernie Sanders has no practical response. Donald Trump ignores the issue.

So what could reasonably be done? Since some of the inequality comes from the rising premium for technical skills, we need to provide more vocational education for underemployed Americans of all ages. Since much inequality comes from single parent households, we need to strengthen marriage by targeting income support for two-parent households. Since excessive incarceration for non-violent felonies has weakened minority communities, we can strengthen them by offering the unemployed jobs repairing public facilities. Community corrections should replace prison terms. Since discrimination against women contributes to poverty too, stronger unions should demand equal pay for equal work. That work should earn a new minimum wage of $10-12 an hour. Studies show that this modest increase in the current minimum wage would not raise prices or unemployment unreasonably relative to the benefits for those who need it.

A program like that would attract my vote.

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https://indianapublicmedia.org/speakyourmind/poverty-campaign-trail/feed/ 0 A proposal to assist the 90 per cent of taxpayers who are not benefiting from the country's modest economic growth would attract the author's vote. A proposal to assist the 90 per cent of taxpayers who are not benefiting from the country's modest economic growth would attract the author's vote. minimum wage – Speak Your Mind 2:01
Raise The Minimum Wage https://indianapublicmedia.org/speakyourmind/raise-minimum-wage/ https://indianapublicmedia.org/speakyourmind/raise-minimum-wage/#respond Thu, 25 Sep 2014 13:00:37 +0000 https://indianapublicmedia.org/speakyourmind/?p=425 Why is raising the minimum wage, now at $7.25 an hour, so controversial? The $10.10 an hour that President Obama is proposing to the Congress is still less than the minimum wage in 1968, which would be $10.56 in today’s dollars.

Two reasons against a raise are common. The first is that only a few would benefit from a higher minimum wage. The second is that higher wages lead employers to cut jobs. Both reasons are faulty.

The first argument is based on there being only 1.6 million people working in minimum wage jobs – many in fast food, restaurants, and hotels – making up only 2.1 percent of all hourly jobs. Is benefiting so small a group worth a battle?

The response is that raising the minimum wage would affect all those making between $7.25 and $10.10 an hour plus many others already making more than $10.10 an hour who would get raises by demanding equal treatment with those making less.

Taken together, some 30 million workers could benefit.

The second argument against raising the minimum wage is that workers will lose jobs. The University of Chicago hosted 38 economists in 2013 to speak on whether it will be hard for low-skill workers to find jobs if the minimum rose to $9.00. 34% said it would be harder; 24% said they were uncertain; and 32% said it would not be any harder. Clearly this was not a verdict for job loss!

Even with some job loss, the overall gain in wages would be a victory for working people. There are no genuine gains without trade-offs.

Sources:

“Consumer Price Index Calculator,” Bureau of Labor Statistics.

“BLS Reports,” Bureau of Labor Statistics (Report 1048, March 2014).

David Cooper, “Raising the Minimum Wage Will Lift Wages for Millions,” Economic Policy Institute Report (12-19-2013).
www. igmchicago.org/igm-economic-experts-panel.

 

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https://indianapublicmedia.org/speakyourmind/raise-minimum-wage/feed/ 0 The $10.10 an hour that President Obama is proposing to the Congress is still less than the minimum wage in 1968, which would be $10.56 in today’s dollars. The $10.10 an hour that President Obama is proposing to the Congress is still less than the minimum wage in 1968, which would be $10.56 in today’s dollars. minimum wage – Speak Your Mind 2:20