Have you ever noticed that conservatives hate the idea of capping anyone’s salaries…except the working poor? You mention even in causal passing that CEO salaries are so high they can afford to give their labor more money and you’re called a communist for even daring to set a ceiling above anyone’s head in terms of earning potential. And yet, the actual effect of a minimum wage is to put a poverty-inducing level limitation on what low-wage workers can earn. Conservatives want us to believe that hardly anyone actually makes just the minimum wage, and if they do they’re just teenagers, so who cares if they don’t learn self-respect for a hard day’s work with a respectable wage?
There is no doubt that we are in the middle of another period of great struggle for middle class resurgence in this country. The economy under President Obama has slowly and sluggishly ticked upward, but thanks to decades of Reagan Era policies that smashed organized labor protections and helped keep the minimum wage at a rate that’s actually lower than it was in the 1960’s after being adjusted for inflation. One area we could see major improvement in quality of life for the working class is a boost in the minimum wage, and there has been a push for just that, including a fast food workers strike earlier this week.
In the clip below, you’ll get to see former economic adviser to Joe Biden, Jared Bernstein, take CNBC’s big business mouthpiece Carol Roth to the wood shed over minimum wage myths the right likes to promulgate. Whether it’s nailing them with the fact that 88% of people making less than $10 an hour are actually adults, or that the typical worker who would see a benefit from a minimum wage increase brings home about half of their family’s income, Bernstein landed a barrage of facts that neither representatives of the right’s mythology could do anything but push back about Bernstein’s supposed lack of real-world business experience, to which he obliterated Roth by telling her that right now, he is indeed running a business.
Watch Bernstein dismantle Roth here: