Archive for July 2013

Eliminate The Minimum Wage

July 21, 2013

In an article entitled, The Koch Brothers Are Waging War Against The Poor, Thom Hartmann reports on Charles Koch’s solution to the inequality gap that exists in America.

Thom begins by sharing some staggering facts about the ever-widening gap between those who have and those that don’t. He reports that:

  • “the wealthiest 400 Americans own more wealth that the entire bottom-half of the country”
  • “the six heirs to the great Wal-Mart fortune own more wealth than the bottom 30 percent of Americans”
  • “after-tax income for the top 1% of Americans is up 281%, while it’s only up 16% and 25% for the bottom-fifth and middle-fifth of Americans respectively.”
  • “the top 1% of Americans own 40 percent of the entire nation’s wealth, while the bottom 60 percent owns less than 2 percent, and the bottom 40 percent of all Americans own just .3 percent of the nation’s wealth”
  • “after-tax income for the top 1% of Americans is up 281%, while it’s only up 16% and 25% for the bottom-fifth and middle-fifth of Americans respectively”

The inequality gap is obvious and the question is begged, “How do we best address the gap and reduce it?”

Enter Charles Koch.

Hartmann tells us that Koch’s solution is simple: Eliminate the minimum wage.

Easy for him to say, right? His net worth is reported to be $43 billion dollars.

Read the article here.