Thom Hartmann: Are you willing to let millions of Americans work as slave labor?

[thomhartmann]

Marc Harrold, Libertarian Commentator joins Thom Hartmann. Millions of Americans in various states will see an increase in minimum wage come 2012 - meaning they'll have more money to spend to help support the economy. If an increase in minimum wage can help rebuild this nation's struggling economy - why hasn't Washington done it yet? If raising the minimum wage is one of the easiest ways to spur on economic growth - why are so many opposed to it?

The Big Picture with Thom Hartmann on RT TV & FSTV "live" 9pm and 11pm check www.thomhartmann.com/tv for local listings

[socialindependocrat]

1. If you give money to the middle class - they will spend it

Of course the middle class will stimulate the economy.

Giving money to the wealthy and they will invest it - which takes more out of the economy.
our they will save it somewhere - overseas accounts?

The middle class would have stimulated the economy this time at a faster rate except for one thing:

We have been told we are lucky we have jobs.
Then we saw many people losing their homes.
Then our raises were cut
and many people said - Holy Crap! If we are going to ever hope to retire we really need to put more money away!
So, the poor middle class has been scared into taking the money they would have normally spent and instead, put
their money into savings and iras and 401Ks - so they can retire (maybe)

Here is the icing on the cake!

Most companies are going from a non-contributory pension plan - or 401K
People will save money and the company will match their savings.
So a non-contributory pensiln would pay a monthly retirement until the employee dies.
Unfortunately..
The 401K gives one a lump sum at retirement!
This means that if you save $500K and try to live at the same level as when you worked
the money is only going to last you for 10 years - Do you plan on dying at 70 years old?

Even worse - There are some people who max out credit cards and then claim bankrupcy-
these people will live at a higher level than when they were working and get to ZERO evenfaster.
THEN, they will go to the government and say - HEY, we need more money...
What do we do then? You know the government isn't going to just let people die in the streets.

Maybe - Maybe not - BUT remember - You heard it here first..

Merry Christmas!

[JDPriestly]

2. And then we have unpaid interns working for companies that make enough profits to pay them

at least minimum wage.

Creeping slavery. At the least, we are reverting to indentured servitude for young people.

That is not how Germany's apprenticeship works. The apprentices have legal protections, rights, supervised training and some pay.

[xtraxritical]

3. My question for Harrold is - if it's the MINIMUM that can be paid how does he say that

employees will be "priced out"? Duh

[ricardA]

4. a failed economic system

it lokks like the economic system has failure built in for given conditions: so the question would be what are those conditions for failure?

If that is figured out then a better one can be set for good. Both, minimal wage and work for most people should be part of the needed new system. But if you notice none of that is going on. So, bail everyone out, wipe out debt for everyone, start a new system that works and case is closed!

[jjewell]

5. Thom...

You OWNED Marc Harrold in that debate!

Thank you.