75 Years of Minimum Wage

How About A Maximum Wage?

Not much attention toward this historic milestone in most major media. The New York Times was one of the only places to mark 75 years of the minimum wage. In June 1933, Franklin Roosevelt established a minimum wage in exchange for allowing companies to drive up prices in the height of the depression. Amazing that from such tainted beginnings this historic legislation has survived for so long. It was never indexed to anything, and thus has not kept pace with its original goals: those who work hard should be able to earn a decent standard of living. I believe that the guys at the temporary labor companies (making a minimum wage) work harder than 80% of the workers in Cleveland, but at the end of the day they do not earn enough to afford rent. This is a major flaw that needs corrected with regard to the minimum wage.

One of the other revolutionary concepts from the 1930s was that people should not be able to earn unlimited salaries and be taxed at the same rate as workers. How about a maximum wage in America? CEOs should not earn 400-500 times that of their workers. Mr. Ford is no more important than the guy who designs a gas-free auto or the guy who designed the most popular brand in Ford history: the F-150 pickup. Or, if you want to earn at obscene levels, the government will tax you at an 80-90% rate in order to build hospitals, roads, bridges, and provide for the national defense. Somehow, over the last 75 years we have lost the concept of community. Business leaders are out for themselves and hording as much wealth as possible. They have successfully eliminated the estate tax, and can take their wages to the grave with them. Our infrastructure is crumbling and our debts are mounting, and Leona Helmsley left her dog $2 million (originally $12 million.) Celebrate the 75th anniversary of the minimum wage with the push for a maximum wage.

Brian
Posts by Northeast Ohio Coalition for the Homeless staff and Board.