Hillary Clinton and her fellow Democratic Party candidates for the Presidency frequently espouse their goal of achieving “Wage Equality.” Invariably their exhortations about the need to address wage inequality are greeted by wild cheers. I suspect that if their enthusiastic audiences stopped to give this call to action a bit of thought, their cheers would be replaced by jeers.
However, not unlike stampeding livestock, once a bunch of people charge in a particular direction, just about everyone else blindly joins that charge.
The call for addressing wage inequality generally begins by linking wage inequality to the need to increase the minimum wage. For whatever reason, the Obama administration established the goal of creating a federal minimum wage of $10.10 per hour. Fast food workers have taken to the streets to demand a minimum wage of $15.00 per hour.
I certainly understand the appeal for America’s working poor and those sympathetic to their plight to favor raising the minimum wage. I know that there are those who disagree about this concept but today we will not discuss the wisdom of raising the minimum wage, we will only consider just how bogus the calls for linking the increase in the minimum wage to achieving “wage equality” is and what this really means for middle class American workers, their families and the American Dream.
A worker who is paid $10.10 per hour would earn just over $21,000.00 per year. If raising the minimum wage would help eliminate wage equality, someone needs to ask who these workers will be made equal to. An hourly wage of $15.00 per hour would yield an annual wage of $31,200.00. Again someone needs to ask who these workers will be made equal to.