Middle-Income Wage, Not The Minimum, Needs To Be Raised
By SEN. RAND PAUL AND STEPHEN MOORE
Posted 05/07/2014 06:46 PM ET
The average salary in the U.S. is not $7.50 an hour, as Mr. Obama seems to think, but $23 an hour — or triple the minimum wage.
The jobs report told us something else that is crunching the working class. Workers are having a harder time than ever finding a full-time, 40-hour-a-week job. Employers we talk to tell us this is partly due to ObamaCare rules that are holding many new positions below 30 hours a week. (Since when is 30 hours a week a full-time job anyway?)
The White House's new proposed overtime rules are another misdirection play: Mr. President, the problem is that workers are getting too few, not too many, hours on the job.
Mr. Obama's tax increases have also held down wages. It has been a truism for at least 100 years — and probably for time immemorial — that worker pay rises with worker productivity. It's simple: the more widgets or potato chips or microchips a worker produces, the more the employer will pay her.
In last week's dismal GDP report, business spending on investment in plant, equipment and technology fell. That drop matters to workers because with less capital to improve their workplaces, they aren't as productive, and they can't command higher wages.
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