Saturday, June 14, 2014

Vanden Heuvel Counters Gigot On Minimum Wage

Speaking on ABC's This Week, Wall Street Journal editor Paul Gigot (right) argued that a low minimum wage teaches workers not to want low-wage jobs. He also predicted that Seattle's new $15 an hour minimum wage would price workers out of the job market. Katrina vanden Heuvel, editor and publisher of The Nation, explained that putting more money in the pockets of struggling workers is the ultimate job creator, since they are most likely to spend and stimulate the economy. She also said that, due to productivity gains, the minimum wage should be $22 an hour. On an ethical note, vanden Heuvel asked, "Morally, what does it say about America if you're an American, and you work full time, and you live in poverty? It's a broken economic system." Watch:

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