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Jill says Black Friday shows how economy doesn't work for working people

Green presidential candidate Jill Stein took note of the intense efforts of retailers to stimulate demand with Black Friday spending sprees, saying that, “We all want an economy in which workers have money in their pockets and retailers have paying customers. But the reality is that healthier retail sales need to come from real increases in worker incomes. Without that solid foundation, Black Friday sales only result in people going deeper into debt and cutting back later. If elected President, I will insist on making the minimum wage a living wage." 

Jill Stein noted that CEOs of major corporations got a 23 percent raise last year while wages were stagnating for most workers.  “The wealth being generated by our economy is increasingly funneled to the economic elite, leaving workers further behind. A job should keep you out of poverty, not keep you trapped in it. People are working harder with less to show for it.”

Stein went on to say that, "We call today Black Friday for a reason. Today, and only today, the economy is in the black, but it is in the red for the rest of the year. This is an economy on life support, one that depends on one day of super-sales, and supported by credit card debt to keep it going. This is not what a secure future looks like. We need real prosperity based on rewarding workers for their work." 

The federal minimum wage was last increased in 2009 and – when adjusted for inflation – the minimum wage is now 30 percent below the 1968 minimum wage peak of $10.38 (in 2011 dollars). The federal minimum wage is $7.25 – just $15,080 annually. 

Said Stein, “Raising the minimum wage would inject billions of dollars in extra spending into the economy and give immediate help to low-wage workers.  That would result in a sales stimulus that would really mean something.”

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commented 2011-11-27 16:13:08 -0500 · Flag
The Democrats and Republicans have been no help, are being no help, and will be no help in this crisis
published this page in News 2011-11-25 13:04:00 -0500