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Hardly even the minimum

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From flickr.com/photos/7278633@N04/10470768135/: NYC Rally To Raise The Minimum Wage
NYC Rally To Raise The Minimum Wage
(Image by The All-Nite Images)
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The minimum wage that isn't...yet.  Because the minimum wage will take up to 5 years to kick in, the employees that would benefit have to wait up to 5 years in poverty, even if they work 40 hours a week (not 35) with no vacations, and never getting sick, and even assuming no inflation.

The B.I.G. solution is the Basic Income Guarantee - an income above poverty level for every man, woman and child, regardless of other income, with no means-testing (the country would save billions on bureaucracies that don't even do a very good job of qualifying/disqualifying people).  a B.I.G. would let people live in dignity, would end the subsidies to the richest corporations on Earth for jobs that pay below a living wage, would end as the Times Union article linked here puts it having 'society (be the) benefits department for these (large) corporations for years to come.'  It is affordable (particularly if one considers that low wage workers and other poor recipients spend everything they get on the economy, providing a direct stimulus the economy still needs because economic demand is still so weak (and getting weaker at that strata).  Demand drives growth, not more mega-profits subsidized by the taxpayer for the top 1% who merely inflate asset classes.
Read the rest of the story HERE:

At blog.timesunion.com

 

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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
http://www.americaisnotbroke.net/

Scott is a former President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of articles for (more...)
 

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