Monday, April 14, 2014

No, a $20 per hour minimum wage is not unreasonable

It would barely begin to restore the trillions the obscenely rich have stolen from the rest of us.

Paul Campos in a post about working hours and leisure time:

In the late 1960s, median household income was nearly double per capita GDP, while today we have nearly a one to one relationship between the two metrics (Households are on average only slightly smaller today. I don’t have figures for 1967 handy, but in 1975 the average household included 2.89 people, while in 2012 it featured 2.54 persons). Or to put it another way, if over the past 45 years the nation’s increasing wealth as measured by output had ended up getting distributed equally across income groups as income, median household income in the US would be nearly $100,000 per year, rather than half that sum.
$10.10 per hour my ass. Let's demand $40 per hour and settle for $30. Motherfuckers.

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