Just in from Pew Research: 47% of Americans see themselves as lower or lower-middle class.
As PolicyMic reports: “600 economists now say it’s time the federal minimum wage to $10.10, including seven Nobel laureates, attaching their name to a letter from the Economic Policy Institute asking lawmakers to reform wage laws.
“It couldn’t come at a more pertinent time. On Tuesday during the State of the Union, President Obama is widely expected to state that he will raise the minimum wage for future federal contractors to $10.10 an hour from $7.25 via an executive action. The raise would affect some two million federal employees, and show that the president is serious about backing a proposal stalled in Congress to raise the minimum wage for all employees to $10.10 over three years and then index it to inflation.
“And Americans support it by huge margins. A January Quinnipiac poll discovered that some 71% of American voters support raising the minimum wage. That includes 52% of Republicans. As liberal economist Paul Krugman noted, perhaps the reality of class distinctions is beginning to sink in for many Americans as they see an economy recovery bypass so many of them and opportunities disappear across the board. A Pew survey found that Americans’ perception of their class status is converging towards reality, with some 47% of Americans defining themselves as lower and lower-middle class. Krugman thinks this is why economic inequality is now such a popular issue across the country. Continue reading “Revisiting the 47 percent”
