Time to raise the minimum wage


Illustration for Bloomberg News by Rand Renfrow: $15 Minimum Wage

Illustration for Bloomberg News by Rand Renfrow: $15 Minimum Wage

Robert Reich put it succinctly at his Facebook site [links added here]:

Nick Hanauer, one of the nation’s most successful businessmen, proposed yesterday that the minimum wage be raised to $15 an hour. But wouldn’t that cause employers not to hire workers who were “worth” less, and thereby lead to higher unemployment? No, says Hanauer. By putting more money into the hands of more people, it would stimulate more buying — which would generate more jobs than any jobs that might be lost. Hanauer understands that the basic reason the economy is still limping along is workers are consumers, and workers continue to get shafted, which means consumers lack the purchasing power to get the economy off the ground. A minimum wage of $15 an hour, combined with basic worker standards such as paid sick leave and a minimum of 3 weeks paid vacation per year, should all be in a national campaign for better jobs and a better economy in the 2014 election.

That’s the case, in brief.

Last March Reich said raising the minimum wage to $9/hour was a “no brainer.”

Alas, he didn’t account enough for the anti-brain lobby.

What do you think?

More:

Also good, an update:

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4 Responses to Time to raise the minimum wage

  1. […] Time to raise the minimum wage (timpanogos.wordpress.com) […]

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  2. jsojourner says:

    ::: applauding father kane’s prior entry ::: Yessir!

    Like

  3. fatherkane says:

    Thank you for the link.
    To extend on what Hanauer said – he is wealthy but only 1 person. So he’ll buy 1 meal, a few pairs of jeans a a few cars.
    Imagine raising the wage and having 80,000,000 people buying 80,000,000 meals, 80,000,000 pairs of jeans, 80,000,000 cars.
    Instant, massive job creation.
    And for the Republicans?
    Millions and millions of new tax revenue.
    A ‘balanced’ budget. Paying sown the debt. Millions of people off of welfare, unemployment, food stamps.
    But we won’t do it.
    Why?
    An devotion to cutting taxes for the wealthy as the only way to ‘grwo the economy’.
    Tax breaks for the ‘job creators’.

    Like

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