In recent decades, we have witnessed a significant income gap, between the so-called, has and has not, in this nation! While executives and CEOs have always earned significantly more than employees, which is understandable, the margin / gap has increased by more than three times (from approximately 20 times to more than 60 times). There are regularly discussions in Congress about whether or not the minimum wage should be increased, and if so, by how much! Then, in recent years, where we have seen, a growing gap, with the election of a new president, and a change of party, in terms of control of both Houses, of Congress, once again, this debate is happening . ! Since the minimum has not increased, in over a decade, it obviously no longer creates the protections provided for those, the majority, in – need! With this in mind, this article will briefly attempt to consider, examine, review, and discuss 5 considerations, in terms of evaluation, where this nation should go and why.
1. Can companies afford it ?: Those who object to increasing this, or the amount of the increase, often claim that companies cannot afford this additional cost. However, one of the most successful American corporations, CostcoFor years, he has paid, this amount and more, and simply said, the new low would start, now, at $ 16 per hour. In fact, recently, when the CEO of Costco, He testified in front of the Senate, questioned one of the senators, Lindsey Graham, and wondered why this individual was so opposed to him. How much, the bottom line, would impact is an interesting question, because while it could increase salary costs, it could also help, keep employees and reduce the costs of hiring new ones.
2. Will you cut / reduce certain jobs ?: In some industries, raising wages could cut those at the bottom end and replace them with automation, etc. However, that seems to be the trend, anyway! A caring nation and a set of leaders would seek to create better and better paying jobs!
3. Minimum salary of $ 7.25, has not risen in years: The last time the minimum wage was increased was on July 24, 2009 and, in terms of inflation, income was considered to have certainly not been maintained! In fact, by the number, in about two-thirds, of all states, people can’t afford, average rents, etc.
Four. Widening the income gap: The combination of the impacts of the 2017 tax reform legislation, where the wealthiest were the largest beneficiaries, and the lack of significant wage increases, overall, for the majority, contribute to the widening income gap.
5. What do the numbers mean ?: 40 hours, per week, at $ 7.25 per hour, equals $ 290 per week, or $ 15,080 per year! Given that, experts say, we should pay only between a quarter and a third of our salary in housing, which would be equivalent to only $ 315 to $ 415 per month. Shouldn’t someone, who works full time, at least be able to pay the rent, live and pay the rent?
Is it politics, or politics, and greed, that lead certain politicians to oppose an increase or suggest a lower one? More than half, the states, have higher minimum wages than the national!