Union Perspectives

The $15 to $18 an hour minimum wage and why it is so important not only for the workers, but also the U.S. economy’s health and revitalization, and also that of the rest of the world. Marriner S. Eccles, Federal Reserve Board chairman from 1934 to 1947, retired to write his memoir and reflect upon what caused the then greatest economic trauma ever. He thought the major cause of the depression had nothing to do with excessive spending in the 1920s, but a massive accumulation of income by a few, which siphoned purchasing power away from the many and left it in the hands of a few. Let’s look at an example of pay for some chief executive officers (CEOs) in 2013. Aetna’s CEO—understand that he didn’t earn it; he was paid it—$30.7 million or $90,029 per day. WellPoint’s CEO collected --$17 million or $49,483 a day. Centene’s CEO received $14.5 million or $42,483 per day. Cigna’s CEO pocketed $13.5 million or $39,589 per day. United Health’s CEO made $12.1 million or $35,484 a day. Humana’s C...