Who’d a thunk it huh? Seems like a flawed business model to me.
If this model is correct and corporate salaries continue to climb yet businesses remain solvent and no harm is caused to the economy… that would debunk the model right? And a raise of $.50/hour over a 15 year period, no accounting for inflation of course, to a new threshold of $15/hr. for most workers in America, this will destroy the US economy? Alrighty then!
A Little Background
This week Republicans, business groups, all kinds of unthinking and uninformed people declared war on a minimum wage of $15/hour, up from $7.25/hour. This is a long running battle that has no basis.
Per a Fortune.com website article, median salaries for CEO’s rose 4.1% in 2019 to a median annual income of $12.3 million/year. Pay ratios between corporate CEOs and the typical employee were anywhere from 2:1 to 5000:1 per Marketwatch. The average annual income of CEO to worker ratio in 2019 was 339:1. God forbid the minimum wage goes to $15/hour, throwing the economy into a tailspin, right?
Republicans “Trickle Down and Keep ’em Down”
So what exactly did Republicans propose? Well, they have presented a plan that will, over time, boost minimum wages to $10/hour! Thank you Mitt Romney! Always looking to assist others. What a guy! Wait… isn’t this the guy who made his fortune buying out distressed businesses, firing employees as needed until they showed a profit, and then sold the business for a huge profit? That’s him right? I thought so.
So I gotta ask… does a Federal Minimum wage of $10/hour make sense when taking into account the very fact that corporations and businesses across the country have already raised rates to $15/hour and more for millions of workers? And I’ll answer… No, no sense at all. I’ll explain, though I shouldn’t have to.
Out of Touch Politicians Make Up Both Political Parties.
What all this tells us is what some already know. The millionaires and billionaires Americans seemingly relish electing to political office are far out of touch with life for the average American. How far out of touch are they?
They are as out of touch as all those advertised Russian singles on Facebook are out of reach to desperate 65-year-old, American men forced to date themselves. In otherwords, very out-of-touch. (The good news here for American men though… that’s a cheap date).
These elected representatives in Congress have not a clue as to how the average American lives, and what is needed to support their families. Romney’s proposed $10/hour wage is a classic example of the ignorance of the real world around these Congressional members. Mitt Romney is far from being alone in this.
Sen. John Thune, also against the $15/hour wage, rationalized his stance saying when he was younger (approx. 1976) he worked for $6/hour! With inflation that comes to about $24/hour today. Out of touch, ya think?
The National Chamber of Commerce and all local C’s of C are “all hands on board” (meaning their lobbyists are swarming the Halls of Congress) in their fight against a wage increase. “It will destroy small businesses in America!” they shout.
Now the Shocker… and the Facts and the Truth
Here is the real kick in the balloons (or ‘nads’ for those naysayers in Congress and the Republican Party)… many of the largest companies in America (over 28 just this past year) have already raised or have announced a rise in wages to a minimum of $15/hour. Some examples:
- Walmart — 425,000 workers will be bumped to $15/hour.
- Costco — announced an increase for all workers nationwide to $16/hour
- Amazon — $15/hour for 350,000 workers
- Target — from $12/hour to $15/hour nationwide
- Walt Disney — $15/hour from $12/hour in all their locations
- Ben & Jerry’s — $17.78/hour!
Do Republicans in Congress NOT know this?
A Laughable Proposal for a $10/hour Minimum Wage.
OK. Let’s face it. Mitt and his Republican cohorts are either lost, confused, out-of-touch, or simply liars. What they are proposing is to lower wages!
So we, as voters, should ask a couple of questions of these geniuses who have been elected to represent you and me in Congress. For example:
- Why do our elected representatives, specifically Republicans, maintain the false narrative that raising workers pay will destroy jobs, destroy the economy and destroy businesses in America?
- If true, why would all these corporations raise wages for millions of workers to $15/hour and more on their own?
- Why are Congressional Republicans not aware of the above information, or if they are aware, why their claims about how wage increases will destroy jobs and destroy the economy?
- If a rise in wages means the destruction of the economy, why has our economy not already been destroyed by the avg. annual salary increase (as of 2019 per Marketwatch) for CEOs of almost $39,000 per year?
- What’s the deal Mitt? Your Republican plan to raise wages to $10 would be 35% lower than where wages have moved to without Congress. What’s up with that huh? All questions our kiddies want answers to.
Seriously. I would love to hear Mitt Romney explain to this to me. Why, since corporate America has managed to raise their minimum wages to $15/hour and above for millions of workers, without destroying our economy, without costing a massive loss of jobs, and without destroying American businesses, why he and his Republican buddies propose to raise wages to just $10/hour.
Is it because, as Sen. Thune stated, as kids they only made a couple dollars an hour so why should people today get paid more? Seriously? That’s it? Are they jealous? Or just so far out of touch with the world today they should be replaced?
Out of touch? Yes.
Need to be replaced? Yes.
Someone, anyone… explain to me why voters believe it makes sense to continually elect out-of-touch millionaires to Congress (or any position).
Millionaires like Mitt Romney run for office for the sole purpose of feeding at the taxpayer trough in order to receive a lifetime of benefits (free) while having access to, obtaining, and using, insider information to further enrich themselves and their friends and families. He has moved his entire family from state to state, like the Clintons, like the Kennedys, to run for an office… any office.
Wake up! Why do you vote for these people? They. Do. Not. Care. It’s all about the $$. For them. Not you.
And they now propose a wage LOWER than what corporate America is paying workers nationwide. Think about that. Let it sink in.