The federal minimum for an hourly wage was $3.35 in 1982 and now it’s $7.25, up 120 percent. Inflation, meanwhile, has climbed during that period by 135 percent. Eight states, including New York, Connecticut, and New Jersey, are considering legislation to boost the base wage. Advocates say that such state measures are fair and make good economic sense: Putting more money in the hands of workers means more demand—good news for small businesses struggling to overcome poor sales. Then there’s politics. More than two-thirds of Americans favor raising the hourly wage to at least $10.
That's how I saw it when he confronted a protester during the South Carolina primaries. The young man asked how the former Massachusetts governor, as a member of the 1 percent, planned to support the 99 percent. Romney gave an answer that he'd been polishing for a week about the need for unity during our country's darkest hour and how demands of the 1 percent were attempts at division and rancor among the citizenry. Then he cited countries that we were supposed to understand were not better:
"If you’ve got a better model, if you think China’s better, or Russia’s better, or Cuba’s better, or North Korea’s better, I’m glad to hear all about it. But you know what, you know what, America’s right, and you’re wrong.”
I've been thinking about the term "capitalism" since Frank Luntz, the renowned pollster, told Republicans to quit saying it. The Occupy Wall Street movement has turned "capitalism" into a dirty word, he said. If Republicans want to win in 2012, they'd better stop worrying and learn to love "economic freedom" instead.
She was tall, blond, standing in the lobby of a swanky hotel in downtown New Haven. She came for the recruitment seminar by Morgan Stanley, the banking and investment firm. Like the other Yale University students who attended, she came to learn more about starting a lucrative career on Wall Street. And like most of the people I interviewed that evening, she seemed afraid.