Top Economists Are Backing Sen. Bernie Sanders on Establishing a $15 an Hour Minimum Wage

[think]

Budget Blog

Jul 21 2015

Top Economists Are Backing Sen. Bernie Sanders on Establishing a $15 an Hour Minimum Wage



ECONOMISTS IN SUPPORT OF A $15 U.S. MINIMUM

WAGE AS OF 2020


We, the undersigned professional economists, favor an increase in the federal minimum wage to $15 an hour as of 2020. The federal minimum wage is presently $7.25, and was most recently increased in 2009. We also support intermediate increases over the current federal minimum between now and 2020, such as a first-step raise to $10.50 an hour as of 2016.

The real, inflation-adjusted, value of the federal minimum wage has fallen dramatically over time. The real value of the federal minimum wage peaked in 1968 at 10.85 an hour, 50 percent above the current level. Moreover, since 1968, average U.S. labor productivity has risen by roughly 140 percent. This means that, if the federal minimum wage had risen in step with both inflation and average labor productivity since 1968, the federal minimum wage today would be $26.00 an hour. (References for all data cited in this petition can be found here: http://www.peri.umass.edu/fileadmin/pdf/resources/Technical_Appendix_15_Minimum.pdf)

If a worker today is employed full time for a full 52-week year at a minimum wage job today, she or he is making $15,080. This is 21 percent below the official poverty line for a family of three. Raising the minimum wage to $15 an hour would deliver much needed living standard improvements to 76 million U.S. workers and their families. The average age for these workers is 36 years old and they have been in the labor force for an average of 17 years. Only 6 percent of the workers who would benefit from this minimum wage increase are teenagers; i.e., 94 percent are adults.

Numerous states and municipalities throughout the United States are already operating with minimum wage standards above the $7.25 federal minimum. Thus, 29 states plus Washington, DC maintain minimum wages between $7.50 and $9.50. These measures cover 61 percent of the U.S. population. The cities of Los Angeles, Seattle, and San Francisco have all established $15 minimum wage standards that, for all three cases, will be fully phased in as of 2021. A $13 minimum wage will be operating in Chicago as of 2019. Other cities, including New York and Washington, DC, are presently considering similar measures. The State of New York is also examining a $15 minimum wage proposal for the fast-food industry.

Opponents of minimum wage increases frequently argue that such measures will mean fewer employment opportunities for low-wage workers because businesses will be less willing to hire workers at the increased wage level. But the weight of evidence from the extensive professional literature has, for decades, consistently found that no significant effects on employment opportunities result when the minimum wage rises in reasonable increments. This is because the increases in overall business costs resulting from a minimum wage increase are, for the most part, modest.

We recognize that raising the federal minimum wage to $15 an hour as of 2020 would entail an increase that is significantly above the typical pattern with federal minimum wage increases. Nevertheless, through a well-designed four-year phase-in process, businesses will be able to absorb the cost increases through modest increases in prices and productivity as well as enabling low-wage workers to receive a slightly larger share of businesses’ total revenues. On average, even fast-food restaurants, which employ a disproportionate share of minimum wage workers, are likely to see their overall business costs increase by only about 2.8 percent per year through a four-year phase in to a $15 federal minimum wage by 2020. That means, for example, that McDonalds could cover fully half of the cost increase by raising the price of a Big Mac, on average, by 7 cents per year for four years—i.e. from $4.80 to $5.08. The remaining half of the adjustment could come through small productivity gains or a modestly more equal distribution of the increase in revenues generated by the U.S. economy’s overall rate of economic growth.

The economy overall will benefit from the gains in equality tied to the minimum wage increase and related policy initiatives. Greater equality means working people have more spending power, which in turn supports greater overall demand in the economy. Greater equality also means less money is available to flow into the types of hyper-speculative financial practices that led to the 2008-09 Wall Street crash and subsequent Great Recession.

Moreover, the overwhelming factor determining employment opportunities for low-wage workers is macroeconomic conditions—whether the economy is growing or in a recession. Thus, in 1968, when the U.S. minimum wage reached $10.85 in real dollars, the overall unemployment rate was 3.6 percent. By contrast, during the depths of the 1982 recession, the real value of the minimum wage had fallen to $8.22 while unemployment peaked at 10.8 percent.

In short, raising the federal minimum to $15 an hour by 2020 will be an effective means of improving living standards for low-wage workers and their families and will help stabilize the economy. The costs to other groups in society will be modest and readily absorbed.

Signers (Institutional listing for identification purposes only):

Randy Albelda, Ph.D., University of Massachusetts, Boston
Lluis Rodriguez Algans, CNT Trade Union
Peter Arno, Ph.D., University of Massachusetts-Amherst and Lehman College, City University of New York
Michael Ash, Ph.D., University of Massachusetts-Amherst
M.V. Lee Badget, Ph.D., University of Massachusetts-Amherst
Brook K. Baker, J.D., Northeastern University School of Law
Nesecan Balkan, Ph.D., Hamilton College
Avraham Baranes, Ph.D., Rollins College
David Barkin, Ph.D., Universidad Autonoma Metropolitana-Xochimilco
Deepankar Basu, Ph.D., University of Massachusetts-Amherst
Lourdes Benería, Ph.D., Cornell University
Peter H. Bent, University of Massachusetts-Amherst and University of Oxford
Cyrus Bina, Ph.D., University of Minnesota
Ron Blackwell, Chief Economist, AFL-CIO (Retired)
Marc Blecher, Ph.D., Oberlin College
Eileen Boris, Ph.D., University of California-Santa Barbara
Howard Botwinick, Ph.D., State University of New York-Cortland
Roger Even Bove, Ph.D., West Chester University
James K. Boyce, Ph.D., University of Massachusetts-Amherst
Michael Brün, Ph.D., Illinois State University
Robert Buchele, Ph.D., Smith College
Antonio Callari, Ph.D., Franklin and Marshall College
Al Campbell, Ph.D., University of Utah
Jim Campen, Ph.D., University of Massachusetts, Boston
Michael Carter, Ph.D., University of Massachusetts, Lowell
Scott Carter, Ph.D., The University of Tulsa
Shouvik Chakraborty, Ph.D., University of Massachusetts-Amherst
John Chasse, Ph.D., State University of New York, Brockport
Ying Chen, University of Massachusetts-Amherst
Robert Chernomas, Ph.D., University of Manitoba
Kimberly Christensen, Ph.D., Sarah Lawrence College
Alan B. Ciblis, Ph.D., Universidad Nacional de General Sarmiento
Peter Cole, Ph.D., Western Illinois University
Bruce E. Collier, Ph.D., Association for Social Economics
James Crotty, Ph.D., University of Massachusetts-Amherst
Stephen Cullenberg, Ph.D., University of California, Riverside
Jane D’Arista, Political Economy Research Institute
Flavia Dantas, Ph.D., SUNY - Cortland
Paul Davidson, Ph.D., University of Tennessee
Erik Dean, Ph.D., Portland Community College
Carmen Diana Deere, Ph.D., University of Florida
George DeMartino, Ph.D., University of Denver
Gregory DeFreitas, Ph.D., Hofstra University
Alan Derickson, Ph.D., Pennsylvania State University
James G. Devine, Ph.D., Loyola Marymount University
G. William Domhoff, Ph.D., University of California, Santa Cruz
Peter Dreier, Ph.D., Occidental College
Thomas L. Dublin, Ph.D., State University of New York, Binghampton
Gary Dymski, Ph.D., Leeds University Business School
Peter Dorman, Ph.D., Evergreen State College
Veronika V. Eberharter, Ph.D., University of Innsbruck
Barry Eldin, Ph.D., McGill University
Gerald Epstein, Ph.D, University of Massachusetts-Amherst
Rudy Fichtenbaum, Ph.D., Wright State University
Deborah M. Figart, Ph.D., Stockton University
Alfredo Saad Filho, Ph.D., University of London
Andrew M. Fischer, Ph.D., Institute of Social Studies of Erasmus University Rotterdam
Sean Flaherty, Ph.D., Franklin & Marshall College
Nancy Folbre, Ph.D., University of Massachusetts-Amherst
Gerald Friedman, Ph.D., University of Massachusetts-Amherst
Kevin Furey, , Chemeketa Community College
James K. Galbraith, Ph.D., University of Texas-Austin
John Luke Gallup, Ph.D., Portland State University
Ina Ganguli, Ph.D., University of Massachusetts-Amherst
Jorge Garcia-Arias, Ph.D., University of Leon
Heidi Garrett-Peltier, Ph.D., University of Massachusetts-Amherst
Barbara Garson
Armaan Gezici, Ph.D., Keene State College
G. Reza Ghorashi, Ph.D., Stockton University
Helen Lachs Ginsburg, Ph.D., Brooklyn College, City University of New York
Jonathan P. Goldstein, Ph.D., Bowdoin College
April Gordon, Winthrop University
Ilene Grabel, Ph.D., University of Denver
Jerry Gray, Ph.D., Willamette University
Josh Greenstein, Ph.D., Hobart and William Smith Colleges
Daphne Greenwood, Ph.D., University of Colorado-Colorado Springs
Winston Griffith, Ph.D., Howard University
Christopher Gunn, Ph.D, Hobart and William Smith Colleges
Robert Guttman, Ph.D., Hofstra University
Robin Hahnel, Ph.D., American University, Portland State University
Eric Hake, Ph.D., Catawba College
Martin Hart-Landsberg, Ph.D., Lewis and Clark College
James Heintz, Ph.D., University of Massachusetts-Amherst
Lisa Henderson, Ph.D., University of Massachusetts-Amherst
John F. Henry, Ph.D., University of Missouri-Kansas City
Arturo Hermann, Italian National Institute of Statistics
Joan Hoffman, Ph.D., John Jay College of Criminal Justice
Candace Howes, Ph.D., Connecticut College
Michael Hudson, Ph.D., University of Missouri, Kansas City
Dorene Isenberg, Ph.D., University of Redlands
Russell Janis, Ph.D, J.D., University of Massachusetts-Amherst
Tae-Hee Jo, Ph.D., State University of New York, Buffalo State
Laurie Johnson, Ph.D., New York University
Fadhel Kaboub, Ph.D., Denison University
Rebecca E. Karl, Ph.D., History Department, New York University
Mousa H. Kassis, Youngstown State University
Farida C. Khan, Ph.D., University of Wisconsin-Parkside
Mary C. King, Ph.D., Portland State University
Tim Koechlin, Ph.D., Vassar College
Harry Konstantinidis, Ph.D., University of Massachusetts Boston
David Laibman, Ph.D., Brooklyn College and Graduate School, City University of New York
Thomas Lambert, Ph.D., Northern Kentucky University
Margaret Levenstein, Ph.D., University of Michigan
Oren M. Levin-Waldman, Ph.D., Metropolitan College of New York
Ariana R. Levinson, Ph.D., University of Louisville
Victor D. Lippit, Ph.D., University of California, Riverside
Paul Lockard, Ph.D., Black Hawk College
Daniel MacDonald, Ph.D., California State University San Bernadino
Allan MacNeill, Ph.D., Webster University
Mark Maier, Ph.D., Glendale Community College
Arthur MacEwan, Ph.D., University of Massachusetts Boston
Ann Markusen, Ph.D., University of Minnesota
J.W. Mason, Ph.D., John Jay College, City University of New York; Roosevelt Institute
Patrick Mason, Ph.D., Florida State University
Peter Hans Matthews, Ph.D., Middlebury College
Peter B. Mayer, Ph.D., University of Louisville
Scott McConnell, Ph.D., Eastern Oregon University
Elaine McCrate, Ph.D., University of Vermont
Terrence McDonough, Ph.D., National University of Ireland Galway
Michael Meeropol, Ph.D., Western New England University
Martin Melkonian, Hofstra University
Dennis Merrill, Ph.D., University of Missouri-Kansas City
Thomas Michl, Ph.D., Colgate University
Marcelo Milan, Ph.D., Federal University of Rio Grade do Sul
William Milberg, Ph.D., New School for Social Research
John Miller, Ph.D., Wheaton College
Paul Morse, University of Massachusetts Lowell
Fred Moseley, Ph.D., Mount Holyoke College
Philip I. Moss, Ph.D., University of Massachusetts Lowell
Tracy Mott, Ph.D., University of Denver
Michael J. Murray, Ph.D., Bemidji State University
Ellen Mutari, Ph.D., Stockton University
Léonce Ndikumana, Ph.D., University of Massachusetts-Amherst
Don Negri, Ph.D., Willamette University
Julie A. Nelson, Ph.D., University of Massachusetts-Boston
Reynold F. Nesiba, Ph.D., Augustana College, Sioux Falls
Eric Nilsson, Ph.D., California State University, San Bernadino
Michael Nuwer, Ph.D., State University of New York, Potsdam
Erik Olsen, Ph.D., University of Missouri Kansas City
Spencer J. Pack, Ph.D., Connecticut College
Aaron Pacitti, Ph.D., Siena College
Zhaochang Peng, Ph.D., Rollins College
Kenneth R. Peres, Ph.D., retired, Communications Workers of America
Joseph Persky, Ph.D., University of Illinois at Chicago
Karen Pfeifer, Ph.D., Smith College
Xuan Pham, Ph.D., Rockhurst University
Bruce Pietrykowski, Ph.D., University of Michigan-Dearborn
Frances Fox Piven, Ph.D., Graduate Center, City University of New York
Robert Pollin, Ph.D., University of Massachusetts-Amherst
Mary Louise Pratt, Ph.D., New York University
Paddy Quick, Ph.D., St. Francis College
Devin T. Rafferty, Ph.D., St. Peter’s University
Laura Reed, Ph.D., University of Massachusetts, Amherst
Robert Reich, University of California Berkeley
Felipe Rezende, Ph.D., Hobart and William Smith Colleges
Carl Riskin, Ph.D., Queens College, City University of New York
Judith Robinson, Ph.D., Castleton State College
Sergio Romero, PhD, Department of Sociology, Boise State University
Andrew Ross, Ph.D., New York University
Robert J.S. Ross, Ph.D., Clark University
Mario Seccareccia, Ph.D., University of Ottawa
Malcolm Sawyer, Ph.D., University of Leeds
Matías Scaglione, Ph.D., University of Wisconsin-Madison
Helen Scharber, Ph.D., Hampshire College
Ted P. Schmidt, Ph.D., State University of New York, Buffalo State
Geoff Schneider, Ph.D., Bucknell University
Juliet B. Schor, Ph.D., Boston College
Elliot Sclar, Ph.D., Columbia University
Carol Scotton, Ph.D., Knox College
Stephanie Seguino, Ph.D., University of Vermont
Alla Semenova, Ph.D., State University of New York - Potsdam
Anwar Shaikh, Ph.D., New School for Social Research
Zoe Sherman, Ph.D., Merrimack College
Nathan Sivers-Boyce, Ph.D., Willamette University
Bryan Snyder, Bentley University
Peter Spiegler, Ph.D., University of Massachusetts-Amherst
Janet Spitz, Ph.D., The College of Saint Rose
Howard Stein, Ph.D., University of Michigan
Mary Huff Stevenson, Ph.D., University of Massachusetts Boston
Frank Thompson, Ph.D., University of Michigan
Chris Tilly, Ph.D., University of California, Los Angeles
Donald Tomaskovic-Devey, Ph.D., University of Massachusetts-Amherst
E. Ahmet Tonak, Ph.D., Istanbul Bilgi University, Turkey
Mayo C. Toruño, Ph.D., California State University, San Bernadino
Eric Tymoigne, Ph.D., Lewis & Clark College
Hendrik Van den Berg, Ph.D., University of Nebraska and Mount Holyoke College
William Van Lear, Ph.D., Belmont Abbey College
Irene van Staveren, Ph.D., Erasmus University Rotterdam
Roberto Veneziani, Ph.D., Queen Mary University of London
Eric Verhoogen, Ph.D., Columbia University
Matías Vernengo, Ph.D., Bucknell University
Stephen Viederman, Consultant
William T. Waller, Ph.D., Hobart and William Smith Colleges
John P. Watkins, Ph.D., Westminster College
John Weeks, Ph.D., University of London
Thomas Weisskopf, Ph.D., University of Michigan
Cathy Whiting, Ph.D., Willamette University
Jeannette Wicks-Lim, Ph.D., University of Massachusetts-Amherst
John Willoughby, Ph.D., American University
Tamar Diana Wilson, Ph.D., University of Missouri, St. Louis
Jon D. Wisman, Ph.D., American University
Judith Wittner, Ph.D., Loyola University
Michael Wolff, Ph.D., University of Massachusetts-Amherst
Martin Wolfson, Ph.D., University of Notre Dame
L. Randy Wray, Ph.D., Bard College and University of Missouri-Kansas City
Zhun Xu, Ph.D., Howard University
Ben Young, Ph.D., University of Missouri at Kansas City
June Zaccone, Ph.D., Hofstra University
David Zalewski, Ph.D., Providence College
Roland Zullo, Ph.D., University of Michigan

Permalink: http://www.budget.senate.gov/democratic/public/index.cfm/2015/7/top-economists-are-backing-sen-bernie-sanders-on-establishing-a-15-an-hour-minimum-wage

[PotatoChip]

1. Wow. Incredibly impressive! (nt)

[bahrbearian]

2. Even Krugman's thinks it won't hurt the unemployment rate.

https://www.aei.org/publication/paul-krugman-claims-that-a-15-per-hour-minimum-wage-equivalent-to-a-17500-annual-tax-wont-result-in-job-losses/


Hillary , you like to invoke Krugman.

[mmonk]

3. Ah, economists.

You have to be "pragmatic".

[99Forever]

4. K.R

[doc03]

5. At today's minimum wage even McDonalds is becoming unaffordable to

people on a fixed income. Us retirees on SS will have to go back to work to eat. Food prices keep going up and we get no SS increase again. I can see $15 in some areas with a high cost of living but it is too high in most areas.

[AlbertCat]

7. even McDonalds is becoming unaffordable

Good, because you shouldn't eat there all the time.

You can eat at many other places for less than Mickie D's.

And of course, they need not raise their prices on food. They could cut elsewhere.... like the CEO's salary.

[geardaddy]

8. ^ This ^

Some franchise owners are real dicks

[doc03]

25. I'll tell you what they will do, they have you order on a computer screen

and that will eliminate jobs. I am at Panera Bread right now, $11.50 for half sadwich and cup of soup and a drink.

[AlbertCat]

30. they have you order on a computer screen

Olive Garden does this.

Why go out? Part of going to a restaurant is being waited on (for me anyway)

I know!

How about having all the dishes in their own little cubicle with a glass door on the wall and you put money in a slot and this opens the door so you can get to what you want!
Why has no one ever thought of such a thing??????

[doc03]

35. I went to one of those when I was in school in Baltimore back

in the 60's. No tipping.

[AgingAmerican]

15. Too high?

It should be $22 had it kept up with inflation since the 60s.

When I was 17 I could afford both an apartment and a car on minimum wage. Now you can afford neither.

[doc03]

27. No $12 would be equal to inflation not $22 n/t

[ArcticFox]

32. it would depend on how you measure inflation, wouldn't it?

I'm not sure either figure is correct, but I know inflation has been measured differently once time, and official figures are based on less than all the data.

[AgingAmerican]

33. Minimum Wage Would Be $21.72 If It Kept Pace With Increases In Productivity: Study

The center for economic and policy research did an extensive study.

http://www.cepr.net/documents/publications/min-wage1-2012-03.pdf

[doc03]

36. The first job I had was busboy at Holiday Inn back in 1964

we were paid $.75 for the restaurant minimum wage equal to $5.75 today. We got an additional $.50 an hour from the waitresses giving us the same as the minimum wage in 1964 of $1.25 an hour equal to $9.59 today. As far as productivity I don't think a busboy today cleans off any more tables than we did in 1964.

[AgingAmerican]

37. You just dont get it

[doc03]

38. I worked in a steel mill for 40 years and we didn't get much more than

$22 an hour.

[AgingAmerican]

42. You are taking the GOPs position

And either don't realize it, or agree with it.

Read the study.

[doc03]

46. I have no problem if they increased the minimum wage to match

its highest point indexed for inflation and also they should put a COLA on it. A $15 an hour minimum wage would be fine for say San Francisco or NYC. If some states or areas want to make a higher minimum wage that would be OK.
An UAW auto worker only starts out at $17 an hour today. The best thing to do if you want higher wages is form a union. I have seen unions discussed on DU many times and even here a good many people are anti union now days.

[jamzrockz]

43. Does that apply to most people on minimum wage?

For example a fast food cashier today is not anymore productive than a cashier 20 yrs ago. This productivity increase they talk about is actually an average for all workforce and for some professions, it increased a lot and other stayed the same or barely increased

[AgingAmerican]

44. It applies to productivity and wages

Read the study.

[jamzrockz]

51. Again

It is talking about average productivity for the whole work force

If the minimum wage had continued to move with average productivity after 1968, it would have reached $21.72 per hour in 2012 – a rate well above the average production worker wage

Now I am going to ask you, do you really think for example the productivity growth for a cashier has gone up in the last 20 yrs or so to deserve a $21.72 pay? The point I am trying to make is that this productivity growth that is raising the average is happening in other sectors of the work force and not necessarily in jobs that still pay minimum wage.

By all means raise the minimum wage but please put the $21.70 number out of the debate, cos it is highly misleading.

[AgingAmerican]

53. Read the study

It's basic economics. IT talks about the growth of wages vs the growth in productivity. While productivity has skyrocketed, wages have remained flat. The difference between the two lines represents the budget deficit.

[geardaddy]

6. Cool!

Four professors from my Alma Mater - Hobart College.

[sabrina 1]

9. I can't imagine anyone arguing against $15 dollars an hour. It probably should be more

to keep up with the huge rate of inflation actually. But when wealthy billionaires tell us that workers shouldn't earn a livable wage, it shows how bad things have become, how successful the oligarchs have been in controlling the economic system, creating a cheap work force right here in this country.

I am so glad that workers across the nation have decided that 'enough is enough'.


Destroying Unions was the first step towards leveling American workers' wage DOWN to global third world earnings.

[Plucketeer]

11. Actually, I CAN imagine someone arguing against $15 an hour.

Matter of fact, seems as tho I just heard that argument - from THAT someone - recently. Believe it or not, that someone currently has designs on a DC rental. A someone who then had a reception at a $33 thousand dollar-a-plate dinner in their honor. Ya hafta wonder what sorta tip was left for the caterers.

[MaggieD]

10. This supports phasing in a $15 min wage

What does that have to do with Bernie's proposal to immediately jump to that?

Hillary's proposal to raise it to $12 and index it to COL makes perfect sense. Of course states with a higher COL will raise it above that as they always do.

[LovingA2andMI]

13. Academia OBVIOUSLY....

Agrees with Bernie over Hillary. Case, Closed!

[think]

16. This is the exact legislation that Sanders is proposing.:

Sanders Introduces Bill for $15-an-Hour Minimum Wage

Wednesday, July 22, 2015

WASHINGTON, July 22 – Addressing hundreds of low-wage workers who have gone on strike for a living wage, Sen. Bernie Sanders (I-Vt.) said legislation he introduced today would raise the federal minimum wage to $15 an hour.

“It is a national disgrace that millions of full-time workers are living in poverty and millions more are forced to work two or three jobs just to pay their bills,” Sanders said at the outdoor rally near the Capitol. “In the year 2015, a job must lift workers out of poverty, not keep them in it. The current federal minimum wage of $7.25 an hour is a starvation wage and must be raised to a living wage.”

Sanders said he was proud to stand with Good Jobs Nation and the Fight for 15 organizations, groups which have put a spotlight on the need to raise the minimum wage and helped make the push for better pay a cause that most Americans support.

Reps. Keith Ellison (D-Minn.), Raul Grijalva (D-Ariz.), Sheila Jackson-Lee (D-Texas) and other members of the Congressional Progressive Caucus sponsored a companion version of the bill in the House to phase in increases in the minimum wage to $15 an hour by 2020. Sen. Edward Markey (D-Mass.) co-sponsored the Senate bill to more than double the $7.25 an hour required under current law and close a loophole that has let employers pay tipped workers just $2.13 an hour.

Sanders also renewed his call for an executive order by President Barack Obama to increase the minimum wage for federal contract workers to $15 an hour and make it easier for them to join a union. In April, Sanders co-signed a letter with Sen. Richard Durbin (D-Ill.) calling on the Senate to require Senate contractors to provide a living wage, affordable health care and other benefits to all workers.

The federal minimum wage has not been raised since 2009. Increasing the minimum wage would directly benefit 62 million workers who currently make less than $15 an hour, including over half of African-American workers and close to 60 percent of Latino workers. If the minimum wage had kept up with productivity and inflation since 1968, it would be more than $26 an hour today.

Despite resistance by the Republican-run House and Senate, most Americans favor raising the minimum wage. A Hart Research Associates survey in January found that 63 percent of the American people support increasing the minimum wage to $15 an hour.

State and cities are acting on their own. New York’s Wage Board today is expected to approve a new $15 minimum hourly pay for the state’s 200,000 fast food workers. Washington, D.C., and Kansas City, Missouri, are considering raising the wage. Los Angeles, Seattle, and San Francisco already passed ordinances raising their minimum wage to $15 an hour. Twenty-six states already enacted minimum wage increases.

Ahead of the rally, more than 200 economists and labor experts released a letter endorsing Sanders’ legislation. The letter was signed by former Labor Secretary Robert Reich; Robert Pollin of the University of Massachusetts; James Galbraith of the University of Texas; Howard Stein of the University of Michigan and others.

Read a summary of the bill here.

Read a copy of the bill here.

Read Sanders’ statement here.


http://www.sanders.senate.gov/newsroom/press-releases/sanders-introduces-bill-for-15-an-hour-minimum-wag

[MaggieD]

17. So how come he never mentions that phase in

On the stump? Is he trying to mislead people? LOL!

[think]

18. Sanders even said in the last debate that it is phased in over the next few years

The MSM media just chooses to leave that part out like they do with Seattle. Seattle is still phasing in the $15 wage too but if you listen to the MSM you'd think it's already in effect.

Seattle's Minimum Wage Ordinance went into effect on April 1, 2015. It will gradually increase to $15/hour.

Seattle's minimum wage for 2015 is $11/hour.

http://www.seattle.gov/laborstandards/minimum-wage

[MaggieD]

23. He said, and I quote....

Over the next few years, when confronted with the reality that we had zero data to understand the results of a doubling of the min. wage all at once. The transcript link for your reference.

http://www.cbsnews.com/news/democratic-debate-transcript-clinton-sanders-omalley-in-iowa/

He does NOT say this in his stump speeches.

[doc03]

47. So if Hillary gets a $12 minimum wage and indexes it for

inflation it would be close to $15 in 2020. Sounds like she is being a little more honest with us than Sanders.

[think]

49. Please show me where Hillary's plan includes indexing for inflation.

[doc03]

50. I heard her say it should be indexed for COLA and post

#10 also says the same.

[LovingA2andMI]

12. Over 200 Economists Agree over Just Paul Krugman.....

Very Impressive Indeed to See Many in the Field of Actually Teaching Economics Are Actually Supporting Senator Sanders On His Push to Make the Federal Minimum Wage $15.00!!!

[Duval]

14. This list is very impressive.

Wonder what the Republican candidates will do with this?

[SoapBox]

19. Holy moly! What a list!

Go Bernie!

[think]

20. Indeed! /nt

[Major Hogwash]

21. This is a great OP. The Republicans would lose an argument in 5 minutes with anyone on this list.

And according to their last GOP debate, all of the Republicans agreed with not raising the minimum wage.
As if, they were all in lockstep with each other.

Bernie would destroy any argument any Republican would make about economics.

[hedgehog]

22. So is this mother of three underemployed college grads!

[Duckfan]

24. Damn! Now that's what I call A List!

But my school is not on the list. Damn.

Well, at least Portland State made it.

A clear statement that $12 bucks an hour ain't going to cut it. Awsome.

[sabrina 1]

26. It's a pretty impressive list of people!

[sabrina 1]

28. All these economists V Krugman. I think he got it wrong this time.

[Cheese Sandwich]

29. I guess they didn't get the memo this isn't Denmark

[azmom]

31. K&R

[mvd]

34. K&R

What O'Malley should have done was cite the number of economists on this list. I thought he had a good one liner in the debate, but turns out the closest connection the economist Hillary mentioned has to Wall Street is being friends with Geithner. Makes me worried about O'Malley's readiness. Anyway Bernie and O'Malley are certainly right - $15 minimum wage should be the goal.

[bigwillq]

39. K and R (nt)

[Bread and Circus]

40. Wow... that is pretty cool. I pay my staff $11 an hour with 10% revenue sharing..

That gets them to almost $15.00 an hour. This has helped one of my female staff gain independence from an abusive situation.

This type of pay would be a huge boon to single working mothers.

Why is Clinton against single working mothers? (I say this in jest).

Seriously the groups of people Clinton pretends to care about the most would be most helped by Sanders' policy.

[Bread and Circus]

41. Wow... that is pretty cool. I pay my staff $11 an hour with 10% revenue sharing..

That gets them to almost $15.00 an hour. This has helped one of my female staff gain independence from an abusive situation.

This type of pay would be a huge boon to single working mothers.

Why is Clinton against single working mothers? (I say this in jest).

Seriously the groups of people Clinton pretends to care about the most would be most helped by Sanders' policy.

[AgingAmerican]

45. Apparently she is against paying people

Judging by the responses in this thread by those defending her.

[doc03]

48. The fact is though Bernie isn't going to be elected and even if Hillary is

elected she won't get it done with a Republican Congress either. It's all just wishful thinking.

[LWolf]

52. K & R