Respectfully, I think you may be missing a few key drivers.
Respectfully, you misread my post.
Show me where I complained about the MW being too low.
Sorry CP, you skimmed.
I said I would much rather MW jobs return to the role they had when I was a youngster, jobs for kids, for seniors padding their retirement income and for the low skilled bunch.
You clearly thought I was saying we need to raise minimum wage.
Yeah only IF we're going to make most jobs MW..then sure but I said that is NOT the smart option.
But that IS what most of the new jobs are.
If I misread you, then apologies - you're right that I didn't break it out and reply thoroughly piece by piece, and I usually prefer to do, and that could have meant I missed a place where you countered this, but, respectfully, it did seem to be what you were implying. Perhaps I was projecting the standard follow-up to your claim regarding the nature of the MW (which I think I also addressed)... but it is
the standard follow up
And if the middle class is shrinking because so many people are getting rich then we would be seeing millenials fighting each other to buy homes all over the country.
I don't think we can really say it's an "If". Data is data, and data does not care about our anecdotes or our feelings. It is that
the middle class is shrinking because people are moving up.
Sorry friend, but it's clear that most millenials will NEVER own a home.
I think this a claim that is exceedingly
unlikely to prove true. I would agree that many
in home-buying, mostly due to student-debt issues, but the idea that a majority will never
buy a home is, as near as I can tell, unfounded.
If our economy was truly healthy, hardly anyone would care what the MW was, because 90% of the people holding those jobs would be using most of it as disposable income.
On the contrary - people who wanted to change public policy would still be using MW as an emotional tool to pitch their policy preference.
The economy is indeed currently trucking along pretty well. Wages are rising, and, in fact, are rising faster for lower-end workers than for higher-end ones. Unemployment is not only low, but, is pulling people who weren't counted as unemployed (as they were on the couches instead) into the workforce.
The most hilarious lie is the one about how most MW jobholders "don't want to work full time", and it's a lie because most MW jobs DO NOT ALLOW 40 hours because after hour 39 the employer is on the hook for benefits and a lot of other expenses, like overtime.
Yeah. Weird how the government made employees a lot more expensive once they worked 30 hours a week, and employers rationally responded by not letting many of their employees work 30 hours a week.
Gosh. If only that had been completely predictable.
However, that doesn't - actually - change the point, which was that these people are not supporting households, but are instead generally students and housewives working second jobs.
Wal-Mart doesn't pay minimum wage.
In most cases you are NOT ALLOWED to rack up more than 39 hours a week, so you're part time whether you like it or not.
Don't take my word for it, go ask Walmart.