NY Times ahead of our political leaders on minimum wage. American workers have achieved productivity gains that can easily support a $15-an-hour minimum wage. In fact, if the minimum wage had kept pace over time with the average growth in productivity, it would be about $17 an hour. The problem is that the benefits of that growth have flowed increasingly to profits, shareholders and executives, not workers. The result has been bigger returns to capital, higher executive pay — and widening income inequality. Other steps include more progressive income taxes, enhanced rights to form unions without retaliation, and government job-creation programs, And Cuomo stalls on a minimum wage board for tip workers as required by law.
Posted on: Thu, 14 Nov 2013 11:07:46 +0000
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