Increasing the minimum wage to $22 an hour would match increased rates in worker productivity, announced Sen. Elizabeth Warren (D-Mass.) during a a Senate Committee for Health, Education, Labor and Pensions hearing.
Does it take a mental giant to figure out who's pocketing that catch-up? "My question (to Amherst professor Dr. Arindrajit Dube) is, with a minimum wage of $7.25 an hour, what happened to the other $14.75? It sure didn't go to the worker," Sen. Warren queried.
Dube retorted, "If minimum wage incomes had grown over that period at the same pace as it had for the top 1 percent of income earners, the minimum wage would actually be closer to $33 an hour than the current $7.25."
Warren went on to argue that raising the federal minimum wage to $10 an hour in incremental steps over the next two years would not be as damaging as some critics have maintained. (Notice her derivation: Democrat.) It's a cause championed by President Obama.