Sounds about rightLets try a liberal myth. OK? if $15/hour is good, why isn't $100/hour better? or $500? Lets make every working person in America a millionaire by making the minimum wage $500/hour. Why wouldn't that work?
Stupid question, to which you already know the answer. Companies were capable of paying a minimum wage equivalent to $25 per hour in terms of today's buying power, in the 1950's, when teenagers truly did make up the majority of the minimum wage work force. As America became richer and richer, less and less of that wealth went to the American workers and more and more to the investor classes.
Successive Republican governments have offloaded the costs of social programs welfare onto the middle class, while the investor classes continue to increase their share of nations' wealth and income. Amazon, which currently pays no taxes whatsoever, is now the most profitable company in America, and New York City was prepared to make the working people of New York pay for the infrastructure and increased transportation costs for their new headquarters. Corporations need to pay their own way - both in infrastructure, and wages.
$1.25 in the 1950s was equivalent to $ 25 today ??? in what universe.
Workers in the 1950s earned $30-$40 a week. They supported families on that wage with one salary.
$1.25 bought you a lot
not as much as $25 today. NOPE no one could support a FAMILY back then on $40 per week except in real poverty----like no car----probably no phone, ---
maybe a three room apartment ---low end. $25 per hour-----at 40 hours is
$1000 per week for a teenager slinging burgers. why bother to stay in school? anyone got a job for me?
The problem is that very few teenage boys are slinging burgers. It's mostly young single moms with children to support. The average age of minimum wage workers is 27. $1000 per week translates to $750 per week take home, less $200 per week for child care, taking it down to $550 per week, net, after expenses, and our worker still doesn't have healthcare insurance for him/herself or any children they may be supporting. I don't know what rents are like where you live, but where I live, you can't find any apartment much under $800 per month, plus utilities, Much one big enough for a parent and child. Anything family size is over $1000 plus utilities, unless you can get into goverment owned, geared to income housing. The waiting list is currently two years here.
So really, by the time a single mother pays for withholding and taxes, child care, and rent, exactly how much of that glorious $1000 per week, is he or she going to have left, to cover food, clothing, school supplies, transportation, health care, and we're not talking luxury living here Rosie.
Every dollar this worker gets from government income supports costs taxpayers at least $1.25 to collect, process and pay out. Each dollar this employer gives their workers costs the employer $0.78, and the taxpayers $0.22, So, it's a whole lot cheaper for taxpayers to pay a slightly higher price for their goods and services, and lower taxes overall, with the added benefit that it cuts the size of government overall. Since, as you pointed out, the rich pay most of the taxes, they'll get most of the tax savings, thereby further reducing their net cost on the raises. Increasing the money going into the pockets of working Americans will enable them to spend and save, as they were able to do before Reagan changed the tax code, while providing stimulus to the economy by putting more money in the pockets of hard working Americans.
It's time for the rising tide of American prosperity to lift the dinghys as well as the yachts, because these people cannot bail fast enough right now.
you have no idea what is REALLY going on. I do-----I was once a single mom supporting a kid on virtually nothing. When I was a child----my mom faced that situation for a few years-----but not with one kid-----FIVE. The single working mother is an issue of SOCIAL dissolution-------I have known people from southeast asia who cannot UNDERSTAND how it happens in American families that a woman is so abandoned by her own family. It is a social issue based on our culture of
INDIVIDUALISM. One of the ladies who was so horrified by this American
phenomenon was a psychiatrist educated as a physician in India and in the US training as a psychiatrist. Her question "how does her mother and sibs IMAGINE she is going to recover if she has to go out----get a job ----and find a place to live and care for her child with NO HELP? No society can care for the
DETRITUS of the social system with BIG SALARIES for -----for viturally no economically viable contribution