Wage injustice

Minimum wage needs to be raised because current value is LOWER than it was in the 1960s.

Seriously!

Wages, it's all about wages and labor's share

How do we explain how a place like Dallas, Texas, with its booming economy, continues to grow poorer and poorer at the bottom? 

Conventional wisdom would have us believe that a growing, vibrant economy--like we enjoy in Dallas--would begin to cut into the poverty rate in our city. 

But, it's just not happening. 

Why? 

Read on: 

Growth Has Been Good for Decades.
So Why Hasn’t Poverty Declined?

JUNE 4, 2014

 

campaign: nyt2014_sharetools_mkt_topstories_478QW -- 247890, creative: nyt2014_sharetools_mktg_topstories_478QW -- 373809, page: www.nytimes.com/yr/mo/day/upshot/growth-has-been-good-for-decades-so-why-hasnt-poverty-declined.html, targetedPage: www.nytimes.com/yr/mo/day/upshot, position: MiddleLeftThe surest way to fight poverty is to achieve stronger economic growth. That, anyway, is a view embedded in the thinking of a lot of politicians and economists.

 

“The federal government,” Paul Ryan, the House Budget Committee chairman, wrote in The Wall Street Journal, “needs to remember that the best anti-poverty program is economic growth,” which is not so different from the argument put forth by John F. Kennedy (in a somewhat different context) that “a rising tide lifts all boats.”

 

In Kennedy’s era, that had the benefit of being true. From 1959 to 1973, the nation’s economy per person grew 82 percent, and that was enough to drive the proportion of the poor population from 22 percent to 11 percent.

 

But over the last generation in the United States, that simply hasn’t happened. Growth has been pretty good, up 147 percent per capita. But rather than decline further, the poverty rate has bounced around in the 12 to 15 percent range — higher than it was even in the early 1970s. The mystery of why — and how to change that — is one of the most fundamental challenges in the nation’s fight against poverty.

 

Read the entire article here.

 

Reactions?

Out of poverty via hard work? Not so fast, buddy!

[We've always thought that the way out of poverty is hard work.  Not so fast there.  The way out of poverty is hard work at a living wage job.  Those jobs aren't nearly as available as many of us surmise.  In fact, more and more people are working hard and slipping deeper into poverty.  It's more accurate to say that the way out of poverty is two, full-time jobs!  Read the following report.  You'll see what I mean. LJ]

McDonald's Can't Figure Out How Its Workers Survive on Minimum Wage
JORDAN WEISSMANNJUL

In a financial planning guide for its workers, the company accidentally illustrates precisely how impossible it is to scrape by on a fast food paycheck.

 Well this is both embarrassing and deeply telling. In what appears to have been a gesture of goodwill gone haywire, McDonald's recently teamed up with Visa to create a financial planning site for its low-pay workforce. Unfortunately, whoever wrote the thing seems to have been literally incapable of imagining of how a fast food employee could survive on a minimum wage income.

As ThinkProgress and other outlets have reported, the site includes a sample budget that, among other laughable assumptions, presumes that workers will have a second job.

Read the entire report here.