Flimsy Sanity: Back to the Future

Flimsy Sanity

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. - Friedrich Nietzsche

Wednesday, February 14, 2007

Back to the Future

The minimum wage is headed for a raise -- back to the 1950s. That's right, even after rising from $5.15 now to $7.25 in 2009, the federal minimum wage will still be lower than it was in 1956, when it was $7.41 in today's dollars. Since its last raise in 1997, the minimum wage has fallen 20 percent, adjusted for inflation, while domestic corporate profits are up 74 percent, retail profits are up 55 percent, and business has reaped $312 billion in tax breaks.
Minimum Wage Raise Is Good for Business
by Holly Sklar. Read article here.

1 Comments:

  • At 10:50 AM, Anonymous RJ Adams said…

    Business corporations have always howled in anguish whenever a new minimum wage is set. Defined reactions such as "job losses", "closures", etc, etc, are always trotted out, but never brought to effect. It is symptomatic of the corporate indifference to its workforce. Where once a business took pride in caring for its employees, now they are just items on a debit sheet. And still, American employees work their little socks off so their corporate bosses can live in luxury on Malibu beach or Kennebunkport!

     

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