HomeEconomic IssuesWatch Economist Robert Reich Explain How to Fix the Economy in Less Than 3 Minutes!

Watch Economist Robert Reich Explain How to Fix the Economy in Less Than 3 Minutes!

As part of his petition on MoveOn.org to compel McDonald’s and Wal-Mart to pay their employees a livable wage, economist Robert Reich put out the following video, just in time for Labor Day. The video laden with facts and details so your Tea Partier friends might not understand or like it, but it makes a very clear, six-step case for why the old canard that paying low-level employees a livable wage just isn’t feasible.

In the video, Reich explains that the average minimum wage worker is not the teenager that conservative talking points say it is, but rather an adult making more than half of their household income. Reich also explains that had our minimum wage simply been allowed to adjust accordingly with inflation, it would be over $10 an hour now. This means flat-out that your minimum wage job absolutely buys less than it did in the 1960’s.

This Labor Day, thank your local unions for working to keep labor practices safe and fair for everyone, and consider sharing this insightful video with your conservative friends who don’t think labor is worth protecting.

Watch the video below and click here to sign the petition:

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AATTP
Americans Against The Tea Party is a group committed to exposing the Tea Party’s lies, violence, racism, ignorance, intolerance, bigotry, and corporatist fascist efforts to subvert our democratic process – and we are organizing to defeat Tea Party/GOP candidates on ballots everywhere.
  • Rob

    There are more mouths to feed now, with population increasing at a higher rate. If you raise the minimum wage, you raise the cost of the products manufactured. This causes consumers to buy less and thus, hurts the economy and the business. Everyone suffers from this. Economics 101.

    • http://gravatar.com/latenightlarry latenightlarry

      Rob, You need to quit spouting Koch(roach) brothers talking points and actually do some research. The Koch(roach) brothers have more money than they can ever possibly spend, and make billions more every year, pay less taxes than you or me, and really don’t give a sh** if any of us live or die as long as their billions keep rolling in every week. Same with the children of Sam Walton…

      • capitalyst pyg

        Wow, I’ve never seen such a response more irrelevant to the question.

        Not only did you address NOTHING about Rob’s question concerning cost/benefit analysis of employment with a higher minimum wage , but you further go on to heavily imply people making money is a bad thing.

        So are we to believe you never once want to/have made profit/a salary/made a beneficial transaction for yourself? Have you never saved money? Have you committed every ounce of your labor to the community at large, and never to your own benefit?

        Do you not get up in the morning? do you not breath? All these things occur because you have self-interest. Get over it.

  • mtmartino

    I think Forbes should stop celebrating companies like Walmart that make their billions on underpaying employees. They should be shamed. We should petition Forbes to leave off the Fortune 500 list any company that cannot prove that it’s work force has less than 20% of it’s workers on social welfare programs.

    • http://gravatar.com/latenightlarry latenightlarry

      @mtmartino… Forbes should leave off the Fortune 500 list any company which cannot prove that it’s work force has less than 1% of it’s workers on social welfare programs, and that it’s receive a living wage and affordable benefits. A family benefit that costs 104% of the employee’s weekly paycheck if NOT affordable… I’m looking at you Wal-Mart…

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