$22 minimum wage in the US likely possible, Senator Elizabeth Warren suggests (Video)

By on Mar 19, 2013 in Economy, Finance, International, Politics, United States Comments

A $22 minimum wage today in the US is likely possible. This is what Massachusetts Senator Elizabeth Warren suggested last week, as shown in the video below. The Democratic lawmaker noted that Americans should receive a minimum of $22 per hour salary, if productivity of workers has increased during the past decades.

Sen Elizabeth Warren $22 minimum wage speech

Sen Elizabeth Warren, speaking on Senate hearing,
talks about the possibility of a $22 minimum wage

Image Credit: Sen Elizabeth Warren video

As noted at Senate.gov that day, Sen. Elizabeth Warren was speaking at the Senate Committee on Health, Education, Labor and Pensions hearing titled “Keeping up with a Changing Economy: Indexing the Minimum Wage,” when she cited a study suggesting that the minimum wage now would have been $22 per hour.

“If we started in 1960 and we said that as productivity goes up, that is as workers are producing more, then the minimum wage is going to go up the same. Sen. Elizabeth Warren said during the senate hearing on Thursday, March 14, and later pointed it out to Dr. Arindrajit Dube, a University of Massachusetts Amherst professor.

“And if that were the case then the minimum wage today would be about $22 an hour. So my question is Mr. Dube, with a minimum wage of $7.25 an hour, what happened to the other $14.75? It sure didn’t go to the worker.” Warren told Dr. Dube, who has studied the economic impacts of the minimum salary.

Apparently, Mr. Dube agreed to the senator’s claim on the possibility of having a $22 minimum wage today. He even noted that if minimum salary had grown over since 1960 at the same pace as it had for the top 1 percent of income earners, the minimum wage could actually be around $33 an hour before the recession period.

“During my Senate campaign, I [frequently] ate a Number 11 at McDonald’s. It cost $7.19. If we raised the minimum wage to $10.10 over three years, the price increase on that item would be to about $7.23. Are you telling me that’s unsustainable?” The US senator further said.

Senator Elizabeth Warren, speaking about the $22 minimum wage in the US
Video Credit: Senator Elizabeth Warren/YouTube

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