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Archive for December 21st, 2013

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Here’s a stat that might blow your mind; if the 1960 federal minimum wage had kept up with US productivity increases, then the federal minimum wage would today be $22 an hour. Along with the decline of a lot of other people’s wages, the difference between today’s federal minimum wage of $7.25 per hour and the $22 per hour it should be, has been corruptly and legislatively directed into the pockets of the 1 percent by the corrupt politicians of the federal government simply refusing to jack up the minimum wage to where it should be. $14.25 is the difference between what should be and what is, and that difference has pushed the Dow Jones and other financial markets to record levels, along with corporate earnings, dividends and stock prices. Meanwhile, our schools and public infrastructure are made to starve for funds more and more, in part, because more and more wages are being redistributed from the 99 to the 1 percent, which are taxed at local and state levels, while the rich pay less and less of those taxes, and less and less federal taxes. So by keeping the federal minimum wage artificially low, the 99 percent are being robbed of wages, as well as reduced local and state tax bases, all of which create demand, which creates jobs.

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