posted on Jun, 27 2008 @ 01:58 PM
I remember (before 1980) when the minimum wage was intended for teenagers and not for the family wage earner. When Ronald Reagan put the breaks on
1970's inflation by high unemployment (combination of the beginning of outsourcing, hiring illegal workers, loss of unions), wages gravitated to low
The minimum wage became a standard wage. Family members (fathers, mothers, parents, grandparents on fixed income) had to leave a high paying wage to
take a job paying minimum. People were told to make up the difference by taking two or three jobs.
I can remember when my kids were young (must have been late 80's early 90's), the price of a box of cereal just about equaled the minimum wage,
until corporations backed off. There was talk at the time that Americans weren't paying enough of a percentage of their income on food that others in
the world were paying.
Ha! This was all at a time when housing percentages increased greatly!
So, the American worker has been expected to get into debt to support corporate greed and Wall Street speculation. Little wonder American savings rate
is low, when discretionary income gets eaten up. We are told to "shop" to counter terrorism and failing economic/energy policies.
I am not surprised to see corporations and their Washington minions overlook the increasingly dispensable American worker.
A wage structure based on the minimum wage needs to have housing become unattached to speculation (not 50 year interest only loans as the only way to
afford a house!) And now, with rising fuel (not just gas but also for heating, shipping, food, etc.) costs, the American worker is being bled dry.
Corporat/Wall Street leeches indeed!