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Maximum Greed Over Minimum Wage

By The Reverend Published: July 22, 2014

Forbes, Dec. 2012....The minimum wage is a major anti-jobs policy. 

In a, well, nutshell, that has been the rebuttal of those opposed to increasing the minimum wage. Whether found in lofty Serious supply side publications like Forbes and the Wall Street Journal or coming out of the mouths of fascist-wannabes on AM Hate Radio.....conservative servants of the 1% just know that raising the minimum wage will result in fewer people working.

But....

State-by-state hiring data released Friday by the Labor Department reveal that in the 13 states that boosted minimum wages at the beginning of this year, the number of jobs grew an average of 0.85 percent from January to June. The average in the other 37 states was 0.61 percent, the Associated Press reports. 

Did I mention that Forbes and the WSJ are very Serious publications put together by our nation's Most Serious Professional Experts?

Keeping today's minimum wage below the purchasing power level of the 1968 minimum wage benefits the already wealthy. Keeping labor prices as low as possible guarantees that already wealthy business owners, CEO's, major shareholders, etc....will become even more wealthy. And that is the primary reason conservatives argue against it.

The United States has been raising the minimum wage since 1938. With that long history of periodically lifting the minimum....and with the conservative claim that raising the minimum eliminates jobs in mind....isn't it miraculous that ANYONE in America is left still employed? I mean, that is, if conservative economic claims are to be taken seriously.

The truth remains that the best way to put more money into the hands of average, non-rich Americans.....is to lift the minimum wage. Lifting the minimum will put pressure on many other employers to raise wages which are near or slightly above the current minimum. The result will be an increase in consumer demand for goods and services.....resulting in new demand for more workers. In case you've forgotten, what ails our national economy is lack of strong enough consumer demand.....and not enough jobs to go around.

Conservative economic doctrine would seek to "solve" the low demand and lack of jobs problems by lowering tax rates on the already rich and stripping government regulations on already wildly, wealthy corporations. In other words, the same policies America has been following for the last three decades. The same policies which have created the largest income disparity gap in our Exceptional nation's history. The same policies which created the opportunity for Serious Bankster Professionals to loot the country and leave the 99% to deal with the rubble.

The weak wage growth over 2000–2007, combined with the wage losses for most workers from 2007 to 2012, mean that between 2000 and 2012, wages were flat or declined for the entire bottom 60 percent of the wage distribution (despite productivity growing by nearly 25 percent over this period)  

Furthermore....

The median worker saw an increase of just 5.0 percent between 1979 and 2012, despite productivity growth of 74.5 percent—while the 20th percentile worker saw wage erosion of 0.4 percent and the 80th percentile worker saw wage growth of just 17.5 percent.

Conservative economic ideologues look at that information and conclude that the fault lies with American workers. Too lazy, bad choices, uneducated sluggards,.....you know the litany.

The authentic problem, however, is Greed and Selfishness Gone Wild. Greed dictates, like any other horrible addiction, that all national economic facts, all historical economic data are to be viewed through the lens labeled "faith based." Like Creationists, conservative deception artists rely on an audience willing to support faith-based economic policies. Sure, there's absolutely no evidence to support supply side economics as a workable model....all evidence pointing in the opposite direction.....but that's part of being a conservative these days...believing without a shred of evidence for support.

You see, conservatism, at least it is claimed by adherents, can never fail....because conservatism is based on "eternal" truths. I agree that conservative economics is based on "eternal" truth. The eternal truth that suckers are born every minute, and that greed and selfishness are mankind's most destructive attributes.

 

 


 

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