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Raising the Minimum Wage for Working Men and Women in California and the Rest of America

Republicans Should Pass a Minimum Wage Now or Get Hit with It Later

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Since Ronald Reagan was president, the chief operating principle of U.S. fiscal policy has been trickle-down economics: Cut taxes for the rich and their increased wealth will trickle down to the middle class. And trickle it has. In the last 20 years, income for the top 5 percent has increased by 17 percent while income for the middle 20 percent has grown by only 5 percent.

Tax rates for high income earners and corporations are less than half of what they were during the Eisenhower years. The best way to make the tax system fair is to require wealthy Americans to pay their fair share. In the 1950s, the economy prospered when wealthy Americans did their part.

This kind of fundamental tax reform is a long time coming but there’s something we can do right now to put more spending money into the hands of the working families. And that’s to give America a raise. President Obama has proposed and House Republicans have resisted an increase of the minimum wage to $10 per hour from the current rate of $7.25 an hour.

• Category: National, Notable • Tags: Brad Bannon