A Bold New Labor Call for a ‘Maximum Wage’
from Too Much: A Commentary on Excess and Inequality:
A Bold New Labor Call for a ‘Maximum Wage’
August 25, 2012
The national leader of one of America’s feistiest unions is aiming to expand the economic fairness debate. He’s proposing a cap on incomes at the top that rises only if incomes at the bottom rise first.
By Sam Pizzigati
With Labor Day fast approaching, what better time to reflect about those Americans who earn the least for their labor? These Americans — workers paid the federal minimum wage — are now taking home just $7.25 an hour.
On paper, minimum wage workers are making exactly what they made in July 2009, the last time the minimum wage bumped up. In reality, minimum wage workers are making less today than they made last year — and the year before that — since inflation has eaten away at their incomes.
And if we go back a few decades, today’s raw deal on the minimum wage gets even rawer. Back in 1968, minimum wage workers took home $1.60 an hour. To make that much today, adjusting for inflation, a minimum wage worker would have to be earning $10.55 an hour.
In effect, minimum wage workers today are taking home almost $7,000 less over the course of a year than minimum-wage workers took home in 1968. ...................(more)
The complete piece is at: http://toomuchonline.org/a-bold-new-labor-call-for-a-maximum-wage/
= new reply since forum marked as read
would be a considerable trade off for the less wealthy. Company provided lunches, vacations, resorts etc. would at least put that money into an economy, (global and U.S.), rather than into the untaxed off-shore bank accounts of the RMoney types. The stock options and low interest loans already exist and are at the mercy of 'the market,' which is much better than the massive bonuses (free money) these CEOs are gifted; although the financial markets (U.S., Euro, Global etc.) are completely F***ed up and that is a different (but important) discussion to have. Finding loopholes right now is too easy for these corporate accountants / consultants with Glass-Steagall being gutted and Citizens United creating an unprecedented political market.
Some things to do about it:
1. Instituting a maximum wage that egalitarian-ly coincides with minimum wage and that is regulated by a government agency that is insulated from big buisness' influences
2. Raising Minimum Wage to an appropriate level to match the cost of living.
3. Actually regulating the financial sector and holding individuals accountable for fraud.
4. Reinstating the progressive, pre-Regan tax system.
5. Repealing Citizens United
(Priority is in reverse order)
True dems / progressives / liberals / anyone with a brain who is not a corporate shill should only be focusing their discussion on increasing revenue when it comes to the deficit IMO. Specifically by stressing that a progressive tax system, with much historical evidence, works exceptionally well. All the steaming BS from the right: job creationism, trickle down [on your face from millionaires having a wee] economics nonsense, and poor blaming/bashing has been the framework of our national deficit discussion for too long.
