WATCH Warren Continues To Go To Work

March 18, 2013
By Allie Gregory | 3 comments

Elizabeth Warren: "The minimum wage today would be about $22 an hour" if it had kept up with productivity.

During a Senate Committee on Health, Education, Labor and Pensions hearing, Sen. Elizabeth Warren continued her no nonsense efforts to make a difference for American families and change the way corporate America does business. After making her point, Warren went on to argue for raising the federal minimum wage to over $10 an hour in incremental steps over the next two years - a plan the President addressed in his SOTU.

What do you think the minimum wage should be raised to? Let us know in the comments.


Categories: Economy and Jobs

Comments

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The level of economic education and understanding in this country is appalling . Does Warren really believe that these low wage employees are, on the average, producing $22 an hour? If this were true there would be a 100% employment rate among this group. After all, employers are profiting to the tune of $14.75 an hour from each of these hires. Employers have the incentive to continue hiring until supply/demand factors raise the wages of these workers to the point of no marginal profit. Unfortunately, Warren's meager understanding of basic economics preclude her from realizing that the $22 number she cites (I am not even sure that it is accurate, but will assume it for the sake of this argument) is an average number subsuming all workers. Recent studies found that most of the gains in productivity are from the high end workers. This makes sense. We have not experienced the productivity gains in the low end employee as we have for the high end.

derek crane

AMERICANS NEED A DECENT WAGE NOT ONLY TO PROVIDE FOR THEIR FAMILIES BUT TO BE ABLE TO MAKE AMERICA STRONG. WHAT I SEE IS A COLLECTIVE FEW WANT TO CONTROL THE MANY BECAUSE OF THEIR GREED TO FILL THEIR POCKETS. DO WE WANT THESE FEW TO TURN THIS COUNTRY INTO A THIRD WORLD COUNTRY ? IT CERTAINLY LOOKS THAT WAY. AMERICANS EACH DESERVE A CHANCE TO MAKE THEIR DREAMS COME TRUE. ISN'T THAT WHAT BEGAN THIS COUNTRY ? $10 DOLLARS IS MODEST AND MIGHT I SUGGEST THAT WAGE / HEALTH BENEFITS IN CHARGE WITH MAKING THOSE DECISIONS ON THE MANY PERHAPS THEIR WAGES AND HEALTH CARE BE FROZEN AND STOP THE TREATS OF GOING OFF THE CLIFF BECAUSE IT SUITS THEM AND THEY HAVE BEEN BOUGHT OUT BY THE FEW, IN ORDER TO KEEP THE MANY DOWN. I THINK ELIZABETH WARREN IS THE PERSON WE HAVE LONG AWAITED BUT, SHE CAN NOT DO IT ALONE. SO GET ON BOARD AND SUPPORT HER......................

ROSEMARY LENZE

One thing I do know is that rewarding workers for production is considered by some to be counterproductive - as only the "job creators" produce anything - but then I get confused because these same people then reward the "job creators" in communist China - claiming it validates their values of supporters of the "free market" (in effect throwing away all labor laws that we established years ago) - which seems to indicate that profit is shared only by certain people. I can remember as a child, our teacher in grammar school stating that improved technology and means of production would mean more prosperity for all (the triumph of American capitalism) - in which the prosperous working middle class would have to spend less hours of labor to earn a liveable wage. Sadly it only benefitted a few. This new brand of "conservative" economics is too complicated for me to understand, and my children are paying the price.

Thomas Shaw
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