Middle-Income Wage, Not The Minimum, Needs To Be Raised

From Rand Paul and Stephen Moore writing at Investors.com:

For the vast majority of workers, the problem isn't a flat minimum wage, it's a declining middle-class paycheck.

The minimum wage affects only, at most, 5% of workers — and almost half of them are in starter jobs or are teenagers. What about the other 95% — especially those working parents with children?

These are the people who desperately need a raise.

According to statistics from Sentier Research, based on monthly Census Bureau data, the median household income is still some $4,000 lower today than it was before the recession began in 2008, and about $2,000 lower than it was since the recovery began in June of 2009.

Usually periods of recovery from a financial meltdown are years when workers rapidly make up the lost ground in income and job opportunities surrendered during recession.

In this case, average workers have continued to lose ground. This explains why more than half of workers think the recession never ended.  For them, it hasn't....

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Link: http://news.investors.com/ibd-editorials-perspective/050714-700012-falling-middle-class-incomes-bigger-problem-than-minimum-wage.htm