Agree on principle... im a pretty hardcore libertarian.
But after looking at the data, I think a min wage bump is a reasonable stop gap measure that can be implemented quickly and have success, but we need a long term plan to address our growing income inequality.
Truth is corporate profits have never been higher, workers have never been more productive, and yet Real wages have not changed since 1975.
http://ftalphaville.ft.com/files/2013/11/Wages-vs-productivity.png
Who cares if the economy grows, when that growth doesnt get to the people and gets gobbled up by the megarich?
http://currydemocrats.org/in_perspective/cumulative_change_in_real_household_income.png
(That graph is everything you need to know the problem imo)
We need to set up some way of tying wages to profits. Im not sure how its done. Other countries tie a companies minimum worker wages to some multiple of the highest executives total yearly compensation. There are then exemptions for small businesses which employ fewer than 50 people.
That seems fairly reasonable. But now we get to argue over the multiplier... is a ceo worth 1000x the janitor on an hourly basis or only 333x?
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