Our economy is a consumer-based economy. This means that it’s powered by spending, not producing, so the real job creators are the poor people who buy goods and services. The Senate Republicans don’t understand this. Senator Bernie Sanders, however, does.
While in the middle of Senate budget debates filled with one austerity measure after another, Senator Sanders set aside the time to drop a truth bomb on the Senate Republicans, telling Republican Senators that if they really wanted to boost the economy, the first thing they should do is raise the minimum wage.
According to Sanders, the minimum wage is the real job creator:
The simple truth is that in America people working full time should not be living in poverty. Since 1968, the real value of the federal minimum wage has fallen by close to thirty percent, and people all over this country and in state after state on their own have voted to raise the minimum wage. And, by the way, in state after state where the minimum wage has gone up, more jobs have been created. Let us stand today with the tens of millions of workers who are struggling to put food on the table to take care of their families.
Sanders’ amendment to raise the minimum wage failed to pass by 48 to 52, with 52 Republican Senators voting it down. There is good news here, however; the vote fell 3 votes shy of the 51 votes necessary to pass the budget. Perhaps some Republicans are warming to reality?
There are decades worth of data and studies that confirm what Sen. Sanders was saying. The Republican opposition to raising the minimum wage is ideological. The anti-minimum wage position lacks credible non-partisan statistics and data to support its claims. Republicans hang their opposition on a myth that raising the minimum wage kills jobs, but 64 studies have proven that the Republican talking point to be false.
Beyond the abstracts of numbers and figures, there’s a concrete truth: the rich do not spend as much money as the poor do. And since our economy is consumer-driven and production is consumer-generated, the money belongs with the consumers, not in stocks and bonds on Wall Street. This Randroid BS of worshiping the producer while slamming the consumer has got to end if we ever want to recover, after all: Brave Captains of Industry™ don’t turn goods into money, poor people do.
Watch the speech below: