This morning the Patriotic Millionaires took to the streets once again to fight for a fair minimum wage. Vice-chair Stephen Prince spoke at a rally to raise the minimum wage alongside Senators Bernie Sanders, Patty Murray, and Chuck Schumer.
The purpose of the American minimum wage is to ensure that all Americans are able to earn enough money to provide for the basic needs of themselves and their family.
The United States has the highest level of income inequality in the developed world. Economists think our wealth inequality is even greater. It is inherently unfair, even immoral, for me and many others to live in opulence while millions of Americans struggle just to get enough to eat.
“Make America sick again,” goes the chant of Democrats around the country to resist the Republican repeal and replace agenda for the Affordable Care Act.
Representative Rick Mulvaney, Trump’s pick to head the Office of Management and Budget, is under fire for failing to pay more than $15,000 in payroll taxes for a nanny he employed between 2000 and 2004.
Furthermore, we allowed the strengthening of these neoliberal economic policies while globalization and technological advances accelerated the advance of inequality–in wages and in wealth. So now we have inequality which has risen to peak levels, and in the US it is worse than in any other developed country.
In these meetings, the non-partisan Patriotic Millionaires demanded Democrats and Progressives draw a firm line in the sand in negotiations with President-elect Trump and GOP leadership around taxes and minimum wage.
Exclusionary policies that disproportionately affect minorities, women, or people of the LGBTQ community, only further detract from the American economic potential.
Companies with employee partners don’t bother with phony empowerment — offering low-paid employees titles like “associate” or “team leader.” They share real wealth and power.
Worstall argues that raising the minimum wage in Washington DC to $15 an hour will hurt low income workers because — get ready for it — Walmart can’t come to town.
We hear a lot of talk about pay: how much CEOs earn, how little waiters get, etc. While an important indicator, wages do not fully address the real inequality in our nation.
Stephen made a compelling and provocative argument that many corporate executives were raping their companies with the consent of the voting shareholders. He made a strong case that facilitating this was creating a risk to BlackRock’s reputation, just as allowing sexual harassment creates a risk to company’s reputations.
BlackRock almost always votes its shares in favor approving higher CEO pay for the companies in which they are invested… Our member, Steve Silberstein, disagrees.
Patriotic Millionaire Stephen Silberstein is leading an effort to shine a light on exorbitant pay packages through a shareholders resolution at BlackRock Inc., one of the largest fund managers in the world.
The picture that Pew has painted is not only the product of globalization. It is the product of decades on end of special interest lobbying, bought-and-paid for policy and modern-day political corruption intentionally designed to create ever-increasing wealth for the already wealthy.
For the last three and half decades, American workers have largely been on their own. With the exception of labor unions, they have had no go for broke champion to help them navigate through the political scene.
But while applauding the successes of a few, we are institutionalizing an inequality by refusing to take action on legislation that grants a living wage to the many.
It impacts how we live and even how long we live. It affects education, the length and depth of poverty in our nation, our ability to rise and make a new life for ourselves. Structural inequality means that public policies are made to benefit a very few instead of the mass of Americans. Despite vaunted myths about our democracy, average Americans have little or no influence on political decisions in the United States.
We have to fix this mess we created. And even if we can’t really fix it, we have to at least try, don’t you think?
What if more major companies shared the wealth with the employees who helped build them? If more enterprises valued their employees, not just with living wages but also with ownership stakes, we’d have considerably less inequality.