Craziest thing is…there are so many mythical narratives surrounding the minimum wage, wages in general, productivity and the economy. Many Americans have no clue that researchers and economists have been accumulating data for years now and have discovered a great deal about income inequality, poverty and wage exploitation in the US. Some studies suggest that if US wages kept up with productivity in the past thirty years that minimum wage would be close to this amount or substantially more, definitely more than what it is now. If you question the validity of this fact I can provide the links to the literature and research- trust me there is plenty of it. Researchers illustrate how since the late seventies and early eighties the US has entered a period of wage stagnation paralleled by a rise in worker productivity, increased cost of living, record-breaking corporate profits and a restructuring of the tax system to benefit the financial sector, corporations and the very wealthy. Remember how much you are worth…because chances are you aren’t getting all of which you produce and some people who produce next to nothing (financiers who are better at producing economic crises and debt) are accredited as “job creators” when many have participated in the creative destruction of economic growth, plundering of the US treasury and ultimately stand to benefit from socio-economic disparities such as low income and unemployment.
Posted on: Fri, 02 Jan 2015 00:17:23 +0000
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