To the Editor:
Will debate over raising the federal minimum wage reveal low-paying jobs are America’s future? It’s certain that today workers need a minimum-wage increase even above the proposed $10.10/hour to sustain America’s economy and our society.
Congress hasn’t legislated a federal minimum-wage increase in seven years, now $7.25. Elevating the “wage floor” would uplift workers’ wages overall, including 20 million earning just above the minimum and laid-off workers re-employed at lesser pay, common, considering half the created jobs since 2008 are low paying.
What ails America’s “Main Street” economy is lack of customers because workers lack income.
Meanwhile, the adjacent, overheated Wall Street “casino” economy — featuring a rapidly rising, artificially high, stock market (up 30 percent in 2013 alone) — owing to Federal Reserve Bank “easy money” policies, only continues wealth redistribution upwards (10 percent possessing 89 percent of wealth).
A natural rebound in living-wage jobs is impossible without halting long-standing mass corruption/inequality, culminating in the 2008 Great Recession, both continuing today.
Boldly raising the minimum wage would unloosen $2 trillion harbored by corporate America, who’ve amassed record profits from tax reductions/manipulations, stock market winnings, political meddling, subsidies/bailouts and decades of unchecked worker exploitation. — Donna Christianson, Little Falls