Raising Wages For The Lower Class Is Actually Good For The Economy

930 words - 4 pages

Do a search online about raising the minimum wage and you will see any number of articles, and essays detailing why it shouldn’t be done. As detailed or as long winded as these articles are, they all have one central argument, and that is; if we raise the wages of the lower class, than the providers of goods and services will have to raise their prices, which in turn makes everything go up. To this I say bah humbug. It is asinine to think that a company such as Wal-mart whose CEO makes an annual salary of $20.7 million would have to raise prices along with employee salaries in order to make any substantial profit margin. This is simply not true, especially when you consider that the average Wal-mart employee only makes close to $9.00 an hour, and it’s not just Wal-mart, but other consumer based companies, such as Target, and TJ MAXX. The CEOs of these companies make ridiculously high salaries while not even paying their workforce enough to live on.
The question is why. The reason is simple. It’s greed. The more a CEO makes the more they want to make. The economy is no longer about providing a good or service for the population at large, but about amassing as much wealth as possible, and you’re stupid if you think you have the same opportunities to obtain wealth as those Wal-mart and Target CEOs. The truth is the deck is stacked against you, and it keeps getting worse as the world moves along its orbit. The economy has become based largely on the trading and selling of commodities, and the worker has become a cheap disposable commodity, to be used up by megalomaniacs who sit atop cash mountains, casting down crumbs as they see fit.
The collective bargaining rights of the worker are disappearing at alarming rates. Data from the UNITED STATES DEPARTMENT OF LABOR Bureau of Labor Statistics show that In 1983 the union membership was 20.1 percent. Compare that today where union memberships are at 11.3 percent. This shrinking bargaining chip has hurt the workers ability to barter for better wages, as the low percentage of union member impact their ability to effectively strike. If they do strike for better working conditions or higher wages, then the companies hire other employees at lower wages, reduced hours, or both. The companies have the backing of a lot of right wing politicians who themselves advocate for right to work laws, and spew out things like, “unions hurt the average worker.”
This gets airtime on heavily right leaning media news channels such as Fox and CNBC, where the majority of...

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