Saturday, December 07, 2013

REGARDING THE FAST FOOD SECTOR STRIKE, this seems to be relevant:

Arguably the most important thing in the debate about the minimum wage is that hardly anyone makes it. According to the Bureau of Labor Statistics less than 3 percent of all workers take home $7.25 or less an hour and half who do are 24 years old or younger. And the vast majority—77 percent —of minimum wage earners belong to households that are above the poverty line. So when Fast Food Forward declares, “We can’t survive on $7.25!”, the good news is that very few people have to (and to the extent that they do, their income is supplemented by anti-poverty programs such as the Earned Income Tax Credit, food stamps, and housing subsidies). Staying at the minimum wage is also usually mercifully short-lived. For instance, between 1977 and 1997, two-thirds of full-time workers had moved on to higher pay within a year.