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$22 minimum wage: Could it pass Congress? (+video)
The Christian Science Monitor ^ | March 19, 2013 | Peter Grier

Posted on 03/19/2013 10:58:57 PM PDT by 2ndDivisionVet

Should the minimum wage be $22 an hour? That’s what Sen. Elizabeth Warren (D) of Massachusetts suggested at a recent hearing of the Senate Committee on Health, Education, Labor and Pensions.

Here’s her logic: If you took the minimum wage from 1960 and indexed it for workers’ gains in productivity, it would be $22 an hour today. And why shouldn’t employees reap the benefits of their own improved labor practices?, she asked at the hearing, rhetorically. Today, the actual minimum wage is $7.25 an hour.

“What happened to the other $14.75? It sure didn’t go to the worker,” Senator Warren said.

Those gains went to corporate and top-executive profits, said a witness at the hearing, Arindrajit Dube, an economist from the University of Massachusetts, Amherst. That’s simply more evidence of how income inequality has grown in America, he said.......

(Excerpt) Read more at csmonitor.com ...


TOPICS: Massachusetts; Issues; Parties; U.S. Senate
KEYWORDS: democrats; elizabethwarren; massachusetts; minimumwage
So she's further left than Mr. Obama? Or just too dumb to try and hide it?
1 posted on 03/19/2013 10:58:57 PM PDT by 2ndDivisionVet
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To: 2ndDivisionVet

If Obama threatened to shut down the government if the budget didn’t contain a $22 minimum wage, Boehner would go along.


2 posted on 03/19/2013 11:03:00 PM PDT by Defiant (If there are infinite parallel universes, why Lord, am I living in the one with Obama as President?)
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To: 2ndDivisionVet

You can do 22, but I’d bet you’d have a LOT less jobs.


3 posted on 03/19/2013 11:17:32 PM PDT by Rick_Michael (We are becoming a Mediocracy: By and For the mediocre. The flock of the wise must gather.)
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To: 2ndDivisionVet
Actually, if you believe the entitled need a nice new car, a home of their own and the ability to send their kids to college, why don't in the name of social justice we make the minimum wage at least $45 per hour. $90K per year for a family is a reasonable lifestyle.
4 posted on 03/19/2013 11:17:40 PM PDT by Robert357 (D.Rather "Hoist with his own petard!" www.freerepublic.com/focus/f-news/1223916/posts)
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To: 2ndDivisionVet

How much was min. wage in 1060? Around 60 cents per hour?

Actually the findings should really make folks angry because she’s saying that it takes $22 to buy what 60 cents used to buy. We’re being ripped off!

In the early 1990’s it was said by some financial experts, that if Social Security been properly handled, people would have been able to retire with an average of $11,000.00 per month. Where did THAT money go?

So the question is, who’s ripping us off worse? The gummit, or their corporations? How about BOTH!

Either way, they get to have lobster luncheons that the president turns his nose up at, and we’re lucky to have hotdogs stuffed with GMO corn with a box of GMO wheat in the mack and processed cheese. I’m sure the salt in those foods should be considered a vegetable or something :(


5 posted on 03/19/2013 11:19:18 PM PDT by PrairieLady2
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To: PrairieLady2
we’re lucky to have hotdogs stuffed with GMO corn

Wow, you can still afford hotdogs? Lucky bastard.

6 posted on 03/19/2013 11:28:57 PM PDT by kevao (.)
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To: 2ndDivisionVet
“What happened to the other $14.75? It sure didn’t go to the worker,”

here's a few places it went...


7 posted on 03/20/2013 12:13:57 AM PDT by ApplegateRanch (Love me, love my guns!©)
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To: 2ndDivisionVet
So she's further left than Mr. Obama? Or just too dumb to try and hide it?

Yes on both counts. Dante's lowest circle of hell is a world run be people who have never worked in the real world, but who want to run the world by the contents of their master's term papers.

8 posted on 03/20/2013 12:13:58 AM PDT by Vince Ferrer
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To: 2ndDivisionVet
Here’s her logic: If you took the minimum wage from 1960 and indexed it for workers’ gains in productivity, it would be $22 an hour today. And why shouldn’t employees reap the benefits of their own improved labor practices?, she asked at the hearing, rhetorically. Today, the actual minimum wage is $7.25 an hour.

So what Senator Warren is actually proving, although she doesn't understand it, is that the government has been holding down wages for 50 years.

It first must be noted that you don't have to pay someone the minimum wage, you just can't pay them lower. And certainly most people earn more than that. But if a company merely pays minimum wage, whatever it is, and the government does not adjust the labor price based upon inflation, then it is the government who is hurting the workers, not the company.

If there had been no minimum wage, what would be the effect, would wages go down, or would they go up over time as inflation continues to erode the currency?

9 posted on 03/20/2013 12:29:36 AM PDT by Vince Ferrer
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To: kevao; PrairieLady2

we’re lucky to have hotdogs stuffed with GMO corn


Wow, you can still afford hotdogs? Lucky bastard.

Splurge, why don’t you, and have boneless chuck roast, instead of the hot dogs?

Our local market’s weekly ad is listing the roast (USDA Choice Angus) at $3.49/pound.

Right below that, it lists Oscar Mayer Cheese Dogs OR Beef Franks at $3.49/16 ounce package: same price!?! /sarcasm

Prices are horrid.

We’re not indulging in either; I put our deer in the freezer, along with some wild turkeys I shot in the orchard; and we raise meat rabbits & have a small flock. There’s 18 eggs that should hatch in another couple of weeks, mainly for fryers & roasters. Big garden, some fruit trees, and friends that grow or shoot stuff we don’t...


10 posted on 03/20/2013 12:30:20 AM PDT by ApplegateRanch (Love me, love my guns!©)
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To: Rick_Michael
You can do 22, but I’d bet you’d have a LOT less jobs.

Either that, or $10 gasoline would be a reality.

11 posted on 03/20/2013 12:35:31 AM PDT by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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To: 2ndDivisionVet

We need comments like this to remind us of the staggering economic illiterary of the Left. She has no concept of the contribution of capital to the economic process of production. Typical Dumb Lefty.


12 posted on 03/20/2013 12:56:08 AM PDT by Richard Brandon Abroad (Hey people, it's different over here. Different people, money ... and news.)
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To: 2ndDivisionVet

Thomas Sowell points out that the real minimum wage is $0/hour when no one will hire you.


13 posted on 03/20/2013 1:14:47 AM PDT by outofsalt ("If History teaches us anything it's that history rarely teaches us anything")
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To: 2ndDivisionVet

The gain in productivity is the result of mechanization and computerization of the manufacturing process. Investments in the machines that make this possible is the expense of the company owner. Elizabeth Warren really is as stupid as she appears.


14 posted on 03/20/2013 1:24:50 AM PDT by afraidfortherepublic
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To: 2ndDivisionVet

Another ignorant Dem politician listening to far left liberal economists.

The workers did nothing to improve productivity.

The business owners invested in advanced/improved technology to improve productivity. Increased profits have been plowed back into the business and/or provided a return on investment to shareholders.

Increasing the minimum wage will result in fewer jobs, but we can’t expect such ignorant people to understand that.


15 posted on 03/20/2013 2:02:05 AM PDT by octex
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To: 2ndDivisionVet
But why 20? Why not $50 an hour? Or $2,000 an hour?
I'd like to make $2,000 an hour just like those Robber Barons do....
16 posted on 03/20/2013 3:59:42 AM PDT by Psalm 73 ("Gentlemen, you can't fight in here - this is the War Room".)
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To: PrairieLady2

So the pro-inflation policies of liberals and bankers should be undone.


17 posted on 03/20/2013 4:02:13 AM PDT by 1010RD (First, Do No Harm)
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To: Richard Brandon Abroad

Right, take away the carpenter’s hammer and what is he?


18 posted on 03/20/2013 4:05:47 AM PDT by 1010RD (First, Do No Harm)
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To: Rick_Michael

Hello to the $20 Big Mac and the $30 takeout pizza

(not)


19 posted on 03/20/2013 4:46:51 AM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks 2ndDivisionVet.


20 posted on 04/06/2013 11:31:42 AM PDT by SunkenCiv (Scott Brown would have been worse, if you're a dumb ass.)
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