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Saturday, June 22, 2013

Quote of the day--on the minimum wage

"Nick Hanauer, one of the nation's most successful businessmen, proposed yesterday that the minimum wage be raised to $15 an hour. But wouldn't that cause employers not to hire workers who were "worth" less, and thereby lead to higher unemployment? No, says Hanauer. 

By putting more money into the hands of more people, it would stimulate more buying -- which would generate more jobs than any jobs that might be lost. 

Hanauer understands that the basic reason the economy is still limping along is workers are consumers, and workers continue to get shafted, which means consumers lack the purchasing power to get the economy off the ground. A minimum wage of $15 an hour, combined with basic worker standards such as paid sick leave and a minimum of 3 weeks paid vacation per year, should all be in a national campaign for better jobs and a better economy in the 2014 election."

--Robert Reich,  American political economist, professor, author, and political commentator.

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