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Minimum wage debate: The arguments for and against raising it to $15 - YouTube
Channel: Washington Post
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after 10 years of cold indifference we
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have
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raised the minimum wage for millions of
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hard-working americans
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the last time we saw the federal minimum
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wage increase
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justin bieber looked like this
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so why are politicians cruising so
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slowly toward raising the minimum wage
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are we there yet no are we there yet no
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bernie sanders thinks it's because
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they've been paying more attention to
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those deep pocketed business groups
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walmart mcdonald's dollar tree wendy's
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burger king uber subway dunkin donuts
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home depot
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and to those corporations that benefit
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the most from low-wage workers
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no one in america can live with dignity
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can raise a family
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on 11 or 12 dollars an hour and a whole
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bunch of politicians
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in both parties seem to be coming around
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to the idea and we will persist
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with the minimum wage we want to reward
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hard-working people
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i don't pay you to breathe you hardly
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pay us at all
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you have many republicans who represent
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states where an increase in the minimum
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wage has passed
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by the voters that puts them in a very
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difficult situation this is congressman
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bobby scott
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he introduced the raise the wage act of
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2021. there's no county in the united
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states for example
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where a full-time minimum wage worker
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can afford a modest two-bedroom
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apartment not just a high-income areas
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not a single county a full-time worker
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and that's not right
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if the u.s had kept up with inflation
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minimum wage would be around 20
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right now instead it sits at just 7.25
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cents an hour
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the bill also makes it so that we won't
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go another decade without raising the
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minimum wage
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and this legislation increases the
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minimum wage gradually to fifteen
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dollars an hour by 2025
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but then increases it with inflation so
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that we don't have to
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have these long gaps again still not
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everyone is on board
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we know the result
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of a 15 federal minimum wage increase
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all at once 1.4 million loss
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jobs that's not what we need in the
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middle
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of a pandemic trying to do that big of a
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jump
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overnight is would be really tricky on
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the economy
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that's heidi sherholtz she's a senior
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economist at the economic policy
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institute
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from the economic perspective we want
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workers to get
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higher wages as quickly as possible
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while balancing
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giving businesses time to adjust so if
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you think
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it's okay to have a 10 minimum wage we
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don't even get there
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this year in the last congress a
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republican-led senate
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didn't give much attention to the
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federal minimum wage but in the new
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congress house democrats have
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already passed this bill but the senate
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sucks the fun out of that real quick
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miss cinema miss cinema no some said
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they want to debate it as a freestanding
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bill
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other opponents say it'll cause job loss
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or primarily benefit teenagers with
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little experience who just want extra
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spending money
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welcome to gettyberg your home of the
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good burger can i take your order
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but that's not totally accurate
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according to sureholds one in ten
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workers who would get a raise is a
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teenager people who would be affected by
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this minimum wage increase
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on average contribute half
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of their household's total income these
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jobs
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deeply matter according to the
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congressional budget office
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raising the federal minimum wage to 15
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an hour by 2025
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would increase wages for at least 17
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million people and lift almost 1 million
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people out of poverty but
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it would also put 1.4 million americans
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out of work
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is that outcome worth it we keep hearing
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about the minimum wage either being
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bad for small businesses or good for
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workers and that seems to be the
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parameters of the debate
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this is colleen duty she's a history
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professor at depaul university
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and that ignores the fact that in 1938
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when franklin roosevelt
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and his administration introduced the
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first
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federal minimum wage legislation they
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did so
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as part of a stimulus package put a flaw
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below which industrial wages shall not
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fall
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millions of industrial workers
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receive pay so low that they have
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little buying power people at the
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bottom 20 of the wage earners spend more
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of their
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income than those at the top
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who tend to save more of their income so
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if we're thinking how do we stimulate
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the economy
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encouraging consumption by putting money
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into the pockets of those people who are
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then going to go out and buy
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stuff is an effective strategy so if we
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waited a decade
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why now postcoded context is making
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everyone really think about okay
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what did we do in the aftermath of the
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great recession one thing that we
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learned in the aftermath of the great
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recession
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is that even if you get jobs back
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it doesn't necessarily imply they're
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good jobs it doesn't necessarily imply
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that you are going to see strong wage
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growth
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and there's also a lot of investment in
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having
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the kind of recovery that's not just
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strong but it's also equitable
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and a higher minimum wage is a key part
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of that
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