I’m in Seattle, Washington today, to congratulate the city and its citizens for passing the first $15 per hour minimum wage earlier this year, and help it ward off challenges. (Ill be speaking at Town Hall at 7:30 pm.) The hike won’t cost Seattle jobs. In fact, by putting more money into the hands of low-wage workers who are likely to spend almost all of it in the vicinity, it will create jobs. Conservatives believe the economy will function better if the rich have more money and the poor have less. They are wrong. It’s just the reverse. With 95% of economic gains now going to the richest 1%, the middle class and poor lack the purchasing power needed to get this economy going. Seattles move should be emulated elsewhere.
Posted on: Sat, 27 Sep 2014 22:27:34 +0000
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