Why Mrs. Hillary Clinton is emphasising for $15/hour as Minimum Wages

Why Mrs. Hillary Clinton is emphasising for $15/hour as Minimum Wages

The ordinary working class of USA is struggling now due to the following facts:

• ·       $1.3 trillion student debt is chasing American youths as new college degree holders are not receiving adequate salary to repay their education level.

• ·       Due to the fact of the economy of regular payroll jobs and career paths has given way to a gig economy of short-run employment that will soon hit four workers out of ten workers.

• ·       There is a large cap in the income distribution as just 1% capturing a giant share of the pie as even $15/ hour national minimum wage will not be adequate to recapture anything equivalent to the more equal economy some thirty years ago.

As per Noam Scheibr of the New York Times, who calculated by employing Bureau of Labor Statistics data found that the increasing the minimum wage to $15/hour for the period 2009 to 2014 would have increased the aggregate income for the 44 million Americans who earn less than $15/hour by an aggregate of $300 billion to $400 billion . However, during the analogues period, the top 10% Americans enhanced their revenue by 200% of that amount.  

 Hence, Scheiber concludes that even if we had raised the minimum wage to $15/ hour, the top 10% income group would still have emerged from the 2009-2014 period with a major share of the increase in the nation’s revenue as compared to the rest of 90% of the Americans. Inequality would still have soared, even though, it is not by as much.

To remove the inequalities,

 Mrs. Clinton has announced the following as her financial strategies to lift the middle-class Americans lifestyle. 

• ·       To raise the minimum wage to $15/hour

• ·       Guaranteeing the Child Care

• ·       To encourage the participation of more women in the American workforce

• ·       To compensate the early childhood education

• ·       Encouraging the profit-sharing for the working employees to increase their standard of living by offering tax-credits to American employers. 

·        

Mrs. Hillary Clinton came heavily on contractor employment and she strongly feels that employees of hybrids such as Uber and Task Rabbit should have both decent earnings and protections available to regular payroll employees. 

Mrs Hillary Clinton has to concentrate on the following:

• ·       To improve the inadequate purchasing power that is prevailing presently in USA.

• ·       To attract more domestic investments to create adequate jobs  

• ·       To offer debt relief for those who are saddled with existing loans

• ·       To empower employee unions to regain their effective right to organize and bargain collectively.

Even though, Mrs Hillary Clinton is a liberal but she has to take above radical steps to raise the standard of livings of 90% Americans who are in the medium and low-income group.

Courtesy – Robert Kuttner – Huffington Post