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View Diary: New Democratic bill would raise the minimum wage to $10.10 (84 comments)

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  •  Hmm. I thought that if the min. wage had (6+ / 0-)

    kept up with inflation, it would be over $16, and if it had kept up with productivity gains, it would be north of $21?

    Either way, a $10 target is better than $9.

    What I'd prefer to see is a plan to increase it by $1/yr. until it does reach parity with inflation, at the very least.

    At the same time, we need to

    1) tax capital gains (except the first $500K of a primary residence sale) as income AND

    2) establish a 50% AMT on ALL income in excess of $5M/yr. 75% AMT on ALL income in excess of $50M/yr and 90% on ALL income in excess of $100M/yr.

    3) If you have assets in excess of $5M and NO taxable income, then 10% wealth tax on ALL assets, regardless of type.

    When 1% take 121% of the gains from "recovery", people actually recovering from lost employment are trading down on wages and benefits. Current strategies by moderates don't even consider winning the Class War.

    by Words In Action on Tue Mar 05, 2013 at 10:19:14 AM PST

    •  Minimum wage in 1968 was $1.60 (7+ / 0-)

      According to the Inflation Calculator that would be 10.42 now.

      "No one life is more important than another. No one voice is more valid than another. Each life is a treasure. Each voice deserves to be heard." Patriot Daily News Clearinghouse & Onomastic

      by Catte Nappe on Tue Mar 05, 2013 at 10:28:01 AM PST

      [ Parent ]

      •  Hmmm, I'll have to dig up the sources (1+ / 0-)
        Recommended by:
        Catte Nappe

        for the other numbers. Maybe the $21 and $16 were two different productivity-related numbers?

        When 1% take 121% of the gains from "recovery", people actually recovering from lost employment are trading down on wages and benefits. Current strategies by moderates don't even consider winning the Class War.

        by Words In Action on Tue Mar 05, 2013 at 04:54:41 PM PST

        [ Parent ]

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