#TheCaseIsMadeForMORALCAPITALISM below! #OrCapitalismAsWeNowKnowIt #NeedsToCeaseToExist P.S. -- We will try and schedule the author of this Bloomberg News article onto Independent Underground News & Talk/IU Radio LIVE Show in the near future!! "Traditionally, arguments for big minimum-wage increases come from labor unions and advocates for the poor. I make the case as a businessman and entrepreneur who sees our millions of low-paid workers as customers to be cultivated and not as costs to be cut. Here’s a bottom-line example: My investment portfolio includes Pacific Coast Feather Co., one of the largest U.S. manufacturers of bed pillows. Like many other manufacturers, pillow-makers are struggling because of weak demand. The problem comes down to this: My annual earnings equal about 1,000 times the U.S. median wage, but I don’t consume 1,000 times more pillows than the average American. Even the richest among us only need one or two to rest their heads at night. An economy such as ours that increasingly concentrates wealth in the top 1 percent, and where most workers must rely on stagnant or falling wages, isn’t a place to build much of a pillow business, or any other business for that matter. Raising the minimum wage to $15 an hour would inject about $450 billion into the economy each year. That would give more purchasing power to millions of poor and lower-middle-class Americans, and would stimulate buying, production and hiring." huffingtonpost/2013/06/20/capitalism-minimum-wage_n_3472118.html?ref=topbar
Posted on: Thu, 20 Jun 2013 20:20:25 +0000