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posted by janrinok on Monday December 08 2014, @06:49PM   Printer-friendly
from the consumers-with-more-money-to-spend dept.

NPR (formerly National Public Radio) reports:

By a 44-5 vote, Chicago's City Council set a minimum-wage target of $13 an hour, to be reached by the middle of 2019. The move comes after Illinois passed a nonbinding advisory last month that calls for the state to raise its minimum pay level to $10 by the start of next year.

The current minimum wage in Chicago and the rest of Illinois is $8.25. Under the ordinance, the city's minimum wage will rise to $10 by next July and go up in increments each summer thereafter.

[...]The bill states that "rising inflation has outpaced the growth in the minimum wage, leaving the true value of lllinois' current minimum wage of $8.25 per hour 32 percent below the 1968 level of $10.71 per hour (in 2013 dollars)."

It also says nearly a third of Chicago's workers, or some 410,000 people, currently make $13 an hour or less.

[...][In the 2014] midterm elections, voters in Alaska, Arkansas, Nebraska, and South Dakota approved binding referendums that raise their states' wage floor above the federal minimum.

Media Matters for America notes that The Chicago Tribune's coverage tried to trot out the *job-killer* dead horse once again, to which the response was

According to a March 2014 report(PDF) prepared for the Seattle Income Inequality Advisory Committee titled "Local Minimum Wage laws: Impacts on Workers, Families, and Businesses", city-wide minimum wage increases in multiple locations--Albuquerque, NM; Santa Fe, NM; San Francisco, CA; and Washington, DC--produced "no discernible negative effects on employment" and no measurable job shift from metropolitan to suburban areas.

Related:

Seattle Approves $15 Minimum Wage

Mayor's Minimum Wage Veto Overridden by San Diego City Council

States That Raised Their Minimum Wages Are Experiencing Faster Job Growth

 
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  • (Score: 2) by Jeremiah Cornelius on Monday December 08 2014, @07:14PM

    by Jeremiah Cornelius (2785) on Monday December 08 2014, @07:14PM (#123820) Journal

    Neoliberal [wikipedia.org] Public Relations [wikipedia.org]

    --
    You're betting on the pantomime horse...
    Starting Score:    1  point
    Karma-Bonus Modifier   +1  

    Total Score:   2  
  • (Score: 2) by ikanreed on Monday December 08 2014, @07:30PM

    by ikanreed (3164) Subscriber Badge on Monday December 08 2014, @07:30PM (#123823) Journal

    This reads like a dig on liberals, but since you purposefully linked the wikipedia page, you have to know neoliberalism isn't liberalism. I think whatever joke you're trying to make is going to be lost in the lack of understanding most people have towards neoliberalism(many thinking it like the left equivalent of neoconservatism, a rebranding of fascism).

    I'm only making it worse by trying to digest your joke, but it's just to vague to work.

    • (Score: 2) by Jeremiah Cornelius on Monday December 08 2014, @07:43PM

      by Jeremiah Cornelius (2785) on Monday December 08 2014, @07:43PM (#123828) Journal

      No. It's not a joke. Planet Money and all that crap. Neo-liberal post-colonial boosterism. NPR sounds like PR flacks from Wall Street, the State Department and Pentagon.

      --
      You're betting on the pantomime horse...
      • (Score: 2) by ikanreed on Monday December 08 2014, @07:50PM

        by ikanreed (3164) Subscriber Badge on Monday December 08 2014, @07:50PM (#123832) Journal

        Yeah, okay. I get that, at least.

        "To discuss this issue here's an expert on the subject matter who works at a prominent university, and with me also a biased douchebag from the Cato institute to mindlessly disagree with everything he says"

        Sometimes Cato Institute is filled in for by American Enterprise Institute of the American Chamber of Commerce.

        But that still doesn't keep people from constantly accusing them of liberal bias.

      • (Score: 3, Informative) by Daiv on Monday December 08 2014, @08:23PM

        by Daiv (3940) on Monday December 08 2014, @08:23PM (#123847)

        Have you listened to Planet Money or just read or heard the name? The whole point is to educate people on how things work. Explain terms relative to what is going on. It's about a neutral as you can get when explaining fairly complex economical concepts to people who have no idea what anything means. http://www.npr.org/blogs/money/127413729/podcast/ [npr.org]

        • (Score: 2) by Jeremiah Cornelius on Monday December 08 2014, @09:20PM

          by Jeremiah Cornelius (2785) on Monday December 08 2014, @09:20PM (#123862) Journal

          Read a little. PM is financial industry propaganda. It still fundamentally blamed a "Giant Pool of Money" - some aimless, Adam Smith free market Shuggoth, for the 2008 meltdown.

           

          http://shameproject.com/profile/adam-davidson/ [shameproject.com]

           

          http://fair.org/blog/2012/12/18/fracking-too-much-of-a-good-thing-says-planet-money-guy/ [fair.org]

           

          In fact, just look under "Planet Money" tag at the FAIR website: http://fair.org/blog/tag/planet-money/ [fair.org]

           

          --
          You're betting on the pantomime horse...
          • (Score: 2) by Daiv on Tuesday December 09 2014, @01:02AM

            by Daiv (3940) on Tuesday December 09 2014, @01:02AM (#123976)

            I read a lot, actually. I've also listened to nearly every episode of Planet Money from its inception. When I listened to Giant Pool of Money, I didn't hear what you apparently heard. I heard that banks and such were packaging mortgage bundles and selling them and in 2005/2006 outside investors decided that with the interest rates of mortgages, they could make some predictable, dependable returns. A whole wave of money came in, banks started packing riskier and riskier loans, often paying off ratings companies to rate them higher to sell easier. Banks issued loans with no verification, appraisers were appraising homes for astronomical increases and banks asked no questions. Ultimately in 2008, some investors called in their chips, others got cold feet and called in the same. Banks didn't have the funds to pay them out, locked up all credit, caused untold chaos to businesses of all sizes.

            All from the episode you are referring to. Did you listen or just read a little?

        • (Score: 0) by Anonymous Coward on Tuesday December 09 2014, @12:34AM

          by Anonymous Coward on Tuesday December 09 2014, @12:34AM (#123967)

          MUCH better.
          Richard D. Wolff, PhD, Professor emeritus (Economics)

          10MB every Friday
          http://www.kpfa.org/archive/show/88660#yui-main [kpfa.org]
          ...or save some clicks and edit this URL (Dec 5, 2014)
          archives.kpfa.org/data/20141205-Fri1000.mp3
          (Only 2 weeks worth archived there)

          A more extensive archive (Files are 2x larger).
          http://www.rdwolff.com/economicdemocracy#main-content [rdwolff.com]

          Available over the air and streamed via many Pacifica affiliates as well.

          -- gewg_