Re: Raising the Minimum Wage and solving the income inequity problem ...

[1StrongBlackMan]

While watching the Morning Joe Show this morning, the republican strategist Steve Schmidt called President Obama's call to raise the minimum wage a disingenuous/ineffective means to solve the inequity problem (and I have seen that argument on DU, as well). I would say he is right ... raising the Minimum Wage will do very little, in the short-term (or even mid-term) to "solve" the income inequity problem.

But I don't think that the proposal is intended to do that, in and of itself; however, it is a necessary step in the long-term process ... just as combatting a patient's infection, is a necessary step before performing a surgery, or shoring up a building's foundation is a necessary step before building an addition.

[pampango]

1. "... it is a necessary step in the long-term process ..." Well said, 1StrongBlackMan.

There are many other policies that will have to be enacted - progressive taxes, funding the safety net adequately, corporate regulation and strengthening unions among others. Something has to be the first and raising the minimum wage is a very popular one to lead with.

[RC]

2. What needs to be done is what Japan has done.

Limit the compensation of the CEO to some mutable percentage of the lowest paid workers wages.
Then we need to close off the End Run work arounds, and put some teeth in them, for the violations by those that didn't' get the message.

But first, we absolutely must get rid of this Corporations as Persons bullshit. It is strangling the world's economy.

[1StrongBlackMan]

4. Actually ...

even limiting the compensation of the CEO, will do little to close the income inequity gap, because the majority of the gap is not tied to "Compensation"; but rather, "dividends", "disbursements" and other non-earned income payments.

However, creating a CEO/lowest paid employee connection will drag the income of the lowest paid upward ... so long as the CEOs don't re-frame what is included as "pay."

But first, we absolutely must get rid of this Corporations as Persons bullshit.

True ... But I would go further and return to the days of the Corporate Charter; where corporation were limited as to its endeavors and could be punished for anti-social conduct.

[PowerToThePeople]

3. Learn to live with less.

That is the reality we all must face.