Thursday, October 31, 2013

Wall Street Should Support Higher Wages

How labor could be a big moneymaker for Wall Street by pushing for higher wages, which will put more spendable income in the pockets of the little or have nots. These wage slaves could very well propel the economy to much higher levels by pushing companies to hire more workers to meet the demand of the new middle class, which is much smaller than the original middle class now. But, never the less, it would bring a very large group of wage slaves into a new class with a chance to buy vehicles. If a family has two wage earners at $15 to $16 an hour, it would be $30 to $32 an hour, this with Obamacare (Affordable Care Act), families can provide for their families, plus help the economy, which could be a large boost to Wall Street. This would then be a good opportunity for a new labor movement to add to labor ranks. If Wall Street is smart it should support higher wages or at least keep their hands off the anti-wage slave movement. If the Wall Street people would want to support it could let or encourage the media to cover the fight for a living wage of $15 to $16 an hour. There is some good work being done by the “have littles” with some successes. Media coverage would hasten the win and the workers will win and some of the first to fall fast food restaurants, but the tipping point will be Walmart, which will play the same card that Henry Ford used when he gave his employees the unheard of wage $5 per day. Ford told reporters that he wanted his workers to make enough money to be able to afford his cars. If Walmart is the first to go, then this would force all the lower wage companies to follow suit. If Walmart workers win, then Wall Street wins. Taxes for government programs win. Just about everyone wins, which will mean, for at least a few years, there will be worker peace. If this does not happen we are in for a long period of worker unrest, which will hurt Wall Street, the low wage corporations and, of course, Walmart. It is the oligarchies choice.