LeftExchange
Minimum Wage
by Radiogod
A) Class and the Tax Burden Syndrome
When the concept arises that the wealthy should pay a higher tax percentage than poor and middle class the Rich cry "unfair." The wealthy class asks why they should be taxed for their personal financial success. After all if we poor and middle classers became rich we wouldn’t want to have to pay more.
First of all may I ask why poor people need to take a sympathetic look at the wealthy perspective in this issue?
Secondly may I ask where the wealthy class got their money? The answer to question 2 is that the wealthy accumulate their wealth though the poor and middle classes spending their modest and meager incomes. Not to mention that the spenders, or consumers, are also employees.
72% of Americans make less than $50,000 a year (which sounds like a dream to me).........somehow that 72% are spending something like 91% of the money flowing through the usa.
The booming economy of the last few years is built upon the fact that working class individuals and families have little or no SAVINGS. The working class must spend their entire income in order for the economy to boom. The material wealth of the working class is attained through credit (so it really has no real value). The higher education, housing and transportation of the working class are also attained through forms of credit and Americans have the highest individual debts of the entire world. Debts that are un escapable in today’s America, the best example being college loans.
And so......it is within this crisis of debt among the working class of America that Congress suggests that the minimum wage should be raised from it’s current $5.15 per hour. Might I point out that congress has voted itself raises about 7 times for every minimum wage hike. I also would like to highlight the spending potential of a worker making $5.15 and hour.
B) A worker at the minimum wage pay scale has a little over $750 a month to spend. All of it is taken. 28% in taxes right off the check and then another 19-31% in other sales and varied tax. Then the worker has to live.....and dare to dream.....support a family. What to do? Work lots of overtime.
May I ask Congress this question?
If the booming economy is built upon the working class spending all of their incomes, would it not be in the best interest of the entire country, ALL classes (if not the entire world) for the American working class to make as much money as possible and work less so they have ample time to spend their income???????????????!
It seems an easy solution to a massive and complex problem: Make the minimum wage a (real life) living wage. By my standard the minimum wage should be set at about $12.50 an hour...........and every employer must offer minimal health benefits (through a Utopia government program designed to give employers subsidies for offering healthcare).
I could almost guarantee that he quality of life in America would change drastically in the course of a year and a half to the benefit of all classes if this could be a fantasy come true. America is the way it is right now because if you don’t make over $50, 000 a year you’re living check to check............essentially living poor.
And what does our benevolent Congress offer us??????????? $6 an hour.
And minus about 23% at that. Increasing the minimum wage earner’s monthly spending by a little over 100 bucks.
Labor Cost should be the highest of all in a company........right now it is the least.......
Response from Mike
www.nav.to/nightradio
www.ksfr.org
American workers making less than $10 an hour work an average of about 60 hours....a week. This is the only way to survive.....and even at that.....there is little or no money flowing into working class savings accounts.
The Government and Business Owners here in America need to recognize that the working class’ financial success ensures THEIR continued wealth.