They compared Wall Street bonuses to the total earnings of every minimum wage worker. Oh, it’s sad.
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Now, put yourself in the shoes of a minimum wage worker. What are you going to buy with that paycheck? Remember, housing costs will put a big dent in your finances. Then there’s your utilities, and you have to eat, right? Oh, and if you have a family, it’s probably dwindling even more quickly. See where I’m going with this?
The Institute for Policy Studies writes:
“Wall Street bonus season may coincide with an uptick in luxury goods sales, but a raise in the minimum wage would give America’s economy a much greater boost. To meet basic needs, low-wage workers tend to spend nearly every dollar they make. The wealthy can afford to squirrel away more of their earnings. All those dollars low-wage workers spend create an economic ripple effect.”
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