At Work

Why does the far left miss the actual problem? It’s like painting over a crack in the wall rather than using plaster to first fix the crack. 

Larry Sum­mers, his first-term ad­viser, may have in­ad­vertently pro­vided the best epitaph for the Obama era in a speech this month in Chicago. Whether your con­cern is Amer­i­ca’s grow­ing debt, its de­clin­ing international pres­tige or stag­nant mid­dle-class in­comes, Mr. Sum­mers said, “there is no more impor­tant ques­tion for the Amer­i­can prospect than ac­celer­at­ing the rate of eco­nomic growth.” Excerpt: WSJ 3-16-16

And then we have:

No it isn’t. It isn’t the foundation of the middle class, teenagers maybe but not the middle class. 🍟 Who earns the minimum wage? Check here

However, back on track. To the extent an adult family member works in an unskilled job paying the minimum wage, what is the real problem, the worker, the job, the lack of skills?

Raising the minimum wage is not the real issue. Merely raising the minimum is the paint over the crack. When we raise the minimum wage don’t we raise everything related to it like prices, like the poverty level and in the end where does that get the minimum wage earner?  Still at the bottom of the economic ladder. 

How does a new higher minimum wage with its consequences actually raise the worker to a livable wage?

Fixing the crack is creating demand for all types of jobs ala Larry Summers. Fixing the crack is finding a way to move adult heads of households out of minimum wage jobs. I guess the political question is what has government, this Congress, and this Administration done to fix the crack? 


2 replies »

  1. Minimum wage is the lowest wage that can be paid. Middle is halfway between the bottom or the lowest wage and the top or the highest wage. I would like BS to explain how the minimum became “middle” class wages? What is now below minimum wage?


  2. I totally agree. Raising the minimum wage does not solve the problem. The problem is that the government, Congress and the Administration haven’t defined what the real problem is, as you pointed out. How many times has the minimum wage been increased since its inception in 1938? Have any of those increases solved the real problem?


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