Economy & Budget

Why not a $100-an-hour minimum wage?

NEW YORK — From coast to coast, politicians want to hike the minimum wage. New York State legislators aim to lift it from $7.25 to $8.50 per hour. California lawmakers are weighing a boost from $8.00 to $8.50.
 
Ralph Nader recently urged the Occupy movement to demand that the federal floor increase from $7.25 to $10.00.
 
Former governor Willard Mitt Romney (R –Mass.) told CNBC’s Larry Kudlow March 6, “There’s probably not a need to raise the minimum wage.” In January, however, Gov. Etch-a-Sketch said he would “allow the minimum wage to rise with the CPI (Consumer Price Index) or with another index so that it adjusts automatically over time.”
 
Tragically, these proposals don’t go far enough.
 
What America needs is the economic equivalent of a 24-Hour Energy Drink. Why not a $100-an-hour minimum wage?
 
If every worker legally were guaranteed this amount, just imagine the possibilities:
 
Assuming 52 weeks of labor at 40 hours each, every American would earn at least $208,000 annually.
 
This sum literally would move the typical American from rank-and-file to rich. Today’s $40,584 average individual income would quintuple. Why? Because Washington said so. Rather than a nation in which the top 1 percent fears the rage of the 99 percent, Americans could live harmoniously as 100 percent of workers would occupy, at worst, the top 3 percent. Thus, Class War I would conclude peacefully after it barely began.
 
Even greater benefits would flow like honey, if not like pancake syrup.
 
With at least $208,000 to spend annually, each worker could buy tons of luxury goods. Tiffany’s, Nordstrom’s, and Coach Stores could stay open 24/7 as hundreds of millions of Americans suddenly could afford their previously pricey products. The Four Seasons could fill every suite. And the airlines could add extra first-class seats, since travelling up front would become affordable for everyone with a paycheck.
 
This super stimulus would propel America’s gross domestic product to Himalayan heights. A $100-per-hour minimum wage would give America’s 133 million workers at least $27.7 trillion in combined buying power — every year!
 
Of course, this figure will climb even higher as this hefty new wage inspires virtually everyone not working to flood the labor market. With all the money that employers will make in increased sales, it will be a snap for them to hire America’s 12.8 million jobless people, at a minimum cost of some $2.7 trillion annually. At long last, this will end — not mend — unemployment.
 
And consider the windfall for the government! The US Tax Code establishes a 33 percent tax rate on everyone earning $208,000. Irrespective of deductions, this would translate into roughly $9.1 trillion in income tax revenues every year. This Niagara Falls of cash could help Uncle Sam pay his bills. Bye bye, national debt!
 
Now, some party poopers might argue that the government has no right to tell employers how much to pay their employees. However these naysayers forget that the minimum-wage law says nothing about how much to pay, just how little. Employers certainly could pay employees more than $100 per hour.
 
Others may wonder where employers would find the money to finance this modest proposal. This question is impertinent and perhaps a little bit racist. Far worse, it lacks imagination. After all, imagination settled the American West, whisked Americans to the Moon, and even invented Strawberry-Daiquiri Jell-O. Where there’s a will, Americans find a way.
 
Amid such myopia, simply listen to George Bernard Shaw. As he famously put it: “You see things; and you say, ‘Why?’ But I dream things that never were; and I say, ‘Why not?’” With words like that, who needs a magic wand?
 
A $10 or even $12 hourly minimum wage represents the kind of small-mindedness that subverts the American Experience. $100 an hour reflects the boldness that built these United States. And just imagine the beauty of a $1,000-an-hour minimum wage.
 
Come on, America. Think big. Think really, really big!

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  • jagscl

    Spending money, particularly without a budget, is easy so they find plenty of time to micromanage our lives. Hence, the Senate controlled by the control freaks  would much prefer to eliminate McDonald’s kiddy meals than deal with say, Iran and the bomb.

    Even worse, the illness is infecting states and localities.  Remember the poor little girl with a lemonade stand.  All powerful government will leave no human action of any kind free of regulation or prohibition.

  • jagscl

    Wil is just one big non sequitur.

  • terry1956

    true, but within the states a wage law for citizens is not a federal issue anyway it is a state and local issue and in my state and my county I think we should not have a minimum wage for citizens.                                                                              
      On the other hand the federal government may and I think should have a minimum wage on immigrants who have not naturalized.               
    Constitutionally the federal government can not have a minimum wage law on citizens but with its custom duty import tax authority it may have a minimum wage on non citizens and on the labor for imports coming into the  US.                                                                      
        An American will work for less than the current minium wage with the outlook of future benefits but they are not going to work for much less for ever.              
     An immigrant use to being a slave, or debt bondage or working for 1 dollar a day would jump at the chance to work for 2 dollars a day their whole life or even for a few weeks.      
      Several busineses would import these third world people to work for a few weeks to pick crops, work in summer vacation  spots, do lawn care then ship them back home.                       
      Its even worse on the imported goods our justice system can not be in Red China to see that the employers of all the goods and services going into the production of imports to the US is bearing the cost of being just to their employees as employers in the US are.                      
       So on imports including imported labor I think congress should set the import tax no lower than the cost of production in the US using American labor.                                         
     Congress should charge the American price traiffs on imported goods, services and labor and do away with the domestic corporate income tax.

  • deeme

    Yep I wonder what would happen if it was announced, Our President  bankrupt our country on solar panels, sorry we can’t afford to fight back..in the case of a war I thought our safety from invaders was his primary job! . He is very happy, that no one made him have a budget though..Let’s face it unfunded pensions are more important to them , then our national security..Without a country, no one will need their pensions.

  • terry1956

    I wonder how many dems and reps in congress that voted for increases in the federal min. wage also voted for the ” free trade” deals with Red China, Panama and South Korea and also want to vote the same with Red Vetnam and Red Cuba each which has a lower min. wage that the one the congress critters passed?                                                              
     Also what is this about federal regulations on some glues used in manufacturing that sends the making of the product to third world nations and  Communist China?          
     I’ve heard sneaker manufacturing used as one example but also notice the notebooks and where they are made it seems like the only ones that I can find made in the US are wire bound but if they are made in a third world nation or Red China they are glued.   
     
    if the glue is not a serious danger to the health of the workers and local community then regulations should be removed but if  equipment is necessary to control the fumes and wastewater then producers in America should not be disadvataged by competition in foreign countries who do not control the fumes and wastewater.                                         
      Congress should add an increase in the import tax on that good to reflect the American price.