Report: Big Corporations Are Making Huge Profits While Keeping Their Employees Stuck At Minimum Wage

[Klukie]

The popular conservative response to those who want to increase the nation’s minimum wage, which currently stands at $7.25 per hour, is that doing so will inevitably kill jobs at small businesses. However, studies have shown that raising the minimum wage does not kill jobs, but most certainly helps workers at the low end of the wage scale.
And according to a report from the National Employment Law Project, many of the companies that employ minimum wage workers could certainly afford to increase wages, since, contrary to popular perception, they are the nation’s biggest corporations. Those companies have largely recovered from the recession:
– The majority (66 percent) of low‐wage workers are not employed by small businesses, but rather by large corporations with over 100 employees;
– The 50 largest employers of low‐wage workers have largely recovered from the recession and most are in strong financial positions: 92 percent were profitable last year; 78 percent have been profitable for the last three years; 75 percent have higher revenues now than before the recession; 73 percent have higher cash holdings; and 63 percent have higher operating margins (a measure of profitability);

http://thinkprogress.org/economy/2012/07/19/550991/corporations-profits-minimum-wag/

[demosincebirth]

1. Is this really news?

[HooptieWagon]

2. Minimum wage is the new middle class.

This is not going to end well.

[fascisthunter]

3. I guess republicans like being subservient

that is their non-wealthy dumbass voters.

[Teamster Jeff]

4. When corporations and the 1% run the country this is what you get

[NNN0LHI]

5. When wages are patterned after non-union workers instead of after union workers this is what happens