Feeds:
Posts
Comments

Posts Tagged ‘Wage’

The Federal Reserve can make or break the economy. Currently, the Fed is keeping interest rates low, which it easier for people to purchase things on credit, spurring demand for goods and services and creating jobs in the process. Republicans have wanted the Fed to raise interest rates for years, but only since President Obama was elected in 2008, in order to tank the economy and place the blame on President Obama.

Click the link below to check out a story by Josh Bivens of the Economic Policy Institute on what other steps the Fed can take to make or break the economy.

How the Federal Reserve Can Help or Hurt the Economy: What’s at Stake | Economic Policy Institute.

Advertisements

Read Full Post »

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.

Read Full Post »

Actually, everybody among the 99 percent are helped by raising the minimum wage, because raising it increases the demand for goods and services. This creates jobs, which is why the US economy is made stronger by raising it. There is one more reason why we all benefit by raising the minimum wage.

An increased minimum wage leaves the 1 percent with less money of our money, making it less likely they can buy more legislation to redistribute more income from us to them, cause that’s what they do with the money they steal from us.

Read Full Post »

McDonald’s to employees: Break your food into small pieces to feel full and sell your Christmas presents for cash (via Raw Story )

The fast-food giant McDonald’s is urging employees to break up food into smaller pieces to feel full or sell their Christmas presents for extra money. The restaurant chain made the recommendations on its “McResource” employee website to help workers…

(more…)

Read Full Post »

While the final results haven’t been declared in SeaTac, Washington, the town that is home to the airport of the same name, backers of the measure to increase the minimum wage from $9.19 to $15 an hour, have declared victory in the election last night.

In New Jersey, home of the probable fake populist Republican Governor Gus Christie, the people voted to lift the current minimum wage of $7.25 per hour to $8.25, and to tie it to the inflation rate with automatic increases.

The current federal minimum wage is $7.25. States can raise it above that.

If the minimum wage had been tied to the low ball official inflation rate since the late 1960s, it would be $10.10 per hour today. However, if it were tied to productivity increases since 1960, the minimum wage would be $22 an hour today.

American voters almost always support raising the minimum wage when given the chance, and by significant majorities. Recent polls show 80 percent of Americans in favor of an increase to $10.10 an hour, and that includes two-thirds of Republicans and nearly 80 percent of the well off.

The economy needs such a boost to increase the demand for goods and services, which creates jobs. A rise of the minimum wage also lowers the amount of money the 1 percent can steal via legislation from the 1 percent, because it decreases the abilities of the parasites of the 1 percent to buy more legislation from our corrupt government and that enables them to steal more income from the 99 percent and weaken the economy at the same time.

The evidence shows that an increase in the federal minimum wage would give the economy a big boost and offer a lifeline of hope to millions of Americans. The Chicago Federal Reserve discovered “that increasing the wage to $9 would increase spending by about $48 billion and give GDP a 0.3 percent boost. Several studies have shown that a raise doesn’t hurt jobs and, on the contrary, and probably even boosts job growth. An increase to $10.10 an hour would lift nearly 6 million people out of poverty,” and create hundreds of thousands of jobs in the process.

Read Full Post »

Actually, what Warren asks is, If the minimum wage had been allowed to grow at the same rate as productivity growth since 1960, it would be $22 an hour today. So who got all the money?

The answer is simple. The 1 percent redistributed all the money to themselves using federal legislation, while orchestrating a propaganda campaign via the corporate propaganda machine known as the news media, to ensure public opinion has been for the things that redistribute income from the 99 to the 1 percent, such as trickle down economics, freely shipping jobs overseas treaties, and tax cuts for the rich. Of course, it helps that legislators such as Wall Street Senator Ron Wyden are so easily bought off.

So today, rather than a robust economy with strong demand because people are earning more money, we have an incredibly bad economy because demand is weak. We also have a massively corrupt federal government, along with state and local politicians that are also corrupted by big money, such as Wisconsin Governor Scott Walker. That’s what all the income redistributed from the 99 to the 1 percent over the last 33 years has purchased.

In 1979, the 1 percent received about 7-8 percent of all the income earned in the United States. Nowadays, they’re stealing over 30 percent, which leaves less money for the 99 percent to demand goods and services. And the economy is getting weaker because this thief from the 1 percent continues. They’ve stolen 95 percent of all the income growth in the US since 2009. And all that money they’re stealing goes toward purchasing more government corruption, more Wall Street scams, more income being redistributed from the 99 to the 1 percent, and more propaganda from the misnamed corporate news media to make us stupid and ignornant. Thank you, Senator Wyden, Wall Street’s useful idiot.

Read Full Post »

Thousands of Walmart employees are striking Thursday in cities across the United States, demanding better pay and protesting the firing of those who previously demonstrated against the company, the largest private employer in the country, with 1.3 million workers.”

According to a congressional study, Walmart is one of the most heavily subsidized corporation in the US in terms of employees being paid so low they must seek public assistence, even though they have jobs. The study also insists that Walmart is a drag on the US economy with all of its subsidies. The taxpayers in Wisconsin (Scott Walker and Koch Brothers Country, pay nearly $6,ooo a year per employee in subsidies for just one store.  Tax payers subsidize Walmart’s rich shareholders to the tune of hundreds of millions of dollars a year. Wall Street loves it. It’s a nifty income redistribution scam. See The Congressional Study–Click here.

Check out the link below for more on this story.

Walmart Workers Go On Strike Today

Read Full Post »

Older Posts »