Tuesday, January 14, 2014

75 economists say raise the minimum wage

See this article. Said economists released a letter calling for the minimum wage to be increased to $10.10 per hour over the next two years, with annual adjustments for inflation thereafter. The regressive argument that employers would not hire workers if they had to pay them more has never been proven. To the contrary, in fact, increasing minimum wages provide more buying power for necessities like food and gas which actually stimulates the economy and hiring increases, in addition to allowing minimum wage earners to actually afford food and housing without government assistance. The Economic Policy Institute estimates that the wage hike would create 85,000 new jobs in add $22 billion to the economy.

But regressives can't have that, for not only would it once again prove them wrong but it would add support for progressive policies that actually help people and they'd be more likely to vote for them and not the regressives. That's why regressive sabotage any program designed to help the 98%, because then things get better for them and they then vote for progressives. If things don't get better they at least have a fallacious argument based in spin and not fact that "see, the economy isn't working under Obama." And such spin is much more likely to take hold on people who are down and out on their luck and vulnerable to it. Which is of course why regressives like to keep us down so that they can reap all the rewards.

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