17 July 2006

An average CEO earns more before lunchtime on the very first day of work in the year than a minimum-wage worker earns all year

An average CEO makes 821 times as much as minimum wage worker, who earns a mere $5.15 per hour in America 2006. The time is long overdue for a hike in the minimum wage — it has not been increased in nearly 10 years and it's at its lowest level, measured in real dollars, in 50 years.

Of course, some will argue that a minimum wage law is unnecessary and bad economic policy. Using the same arguments deployed to defend slavery, they justify paying less than poverty wages as if the affected workers were animals or animatronic creations to be treated in inhumane fashion. Them that argue this maintain a rigidity oblivious to the fact that what exists in today's world of economics is a complex framework, where corporate entities are provided a plethora of socialized risk (i.e., the public, er taxpayers, finance loan subsidies, loan guarantees, etc.…) along with an abundance of financial handout goodies. So why shouldn't workers on the lowest rung be tossed a little coin to ensure that anybody putting forth an honest days work can beat poverty?

But workers toiling at the present minimum wage are not the only benefactors of a rise — there would be a ripple effect for workers earning "just above" the line too.

If you work, you shouldn't be poor.


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