What is wrong with America?
We seem to relish in the fact that there are so many who are doing less well than we are, which apparently must feed our egos.
We have at least half the population which prefers to think of these ‘underachieving’ folks as ‘takers’, because many of them pay little or no federal income tax and many are forced by low wages to accept food stamps to make sure their families get fed.
We like to forget they do pay a very large percentage of their weekly incomes on sales, gas and payroll taxes.
Unfortunately the U.S. does not lead the world in minimum wage fairness. Of 23 OECD countries we rank 11th, trailing most European nations, Australia and Canada. Denmark’s trade unions have negotiated minimum wages of around $14 per hour.
America must make raising the minimum wage to $10.50 per hour an economic priority.
Sure, it might raise the cost of a hamburger 20 cents or a pair of pants by $1.00, but it will also add nearly $400 per month of spendable income into our economy for millions of underpaid American workers.
Imagine the economic boost for millions more being able to make a new car payment, buy new clothes, eat out more often or take a real vacation. It will reduce the number of Americans needing food stamps and increase Social Security and Medicare funds.
How about we ask America’s overpaid CEOs and top executives to freeze their own pay for 3-5 years instead?