Source: PBS NewsHour
Here is a short documentary from 2013 on a family facing daily adversities to support their basic necessities off of a minimum wage salary. Shenita Simon introduces us to her family of seven. She is financially responsible for supporting her husband, her brother, her three children and her mother. As a full time fast food worker, with absolutely no benefits, she earns about $270 a week. Her annual earning of $35,000 is not a stable amount for her family of seven. However, she isn’t the only one supporting a family with a minimum wage earning. Forty percent of fast food workers are over the age of twenty five and more than twenty-five percent of fast food workers are responsible for raising a family. To get a sense of what it’s like to live off of a minimum wage Shenita tracked her expenses and by the end of the week only had three dollars left from her earnings. The school that her children attend, provided them with breakfast and lunch enabling her family to survive off of their low income budget. Like Shenita, 52% of fast food workers depend on public assistance whether its food stamps, medicaid or earned income tax credit. This public assistance costs tax payers seven billion dollars annually. Shenita and her family face a weekly challenge to survive on low income and she is advocating for higher wages.
Source: Bloomberg
This is a short clip from 2015 of New York City’s former mayor Michael Bloomberg, who held office in 2002-2013, discussing the wealth gap. He acknowledges that low interest rates have worsened the gap between the wealthy and the poor. He believes that “taking things away from the rich” is a short-term solution for a long-term problem. Bloomberg states that the most ideal way to approach this gap between the two polar ends is by creating more opportunities, some of which include creating more jobs. Instead of increasing the minimum wage, ehe thinks the most appropriate solution would be to increase income tax credit- this is a refundable tax credit for low income families. He favors this approach over an increased minimum wage because it “spreads the burden between all the tax payers rather than just a small amount of business payers.” Bloomberg believes that increasing the minimum wage will reduce the employment rate and in the long run will have a negative impact on the lower class. However, he states that through increasing the income tax credit, there will be a higher employment rate which will help gradually reduce the wealth gap.
Source: Comedy Central
This is an interview held in 2015 with the current mayor of New York City, Bill de Blasio. He put together a progressive agenda to minimize the wealth gap. Bill de Blasio has a very opposing view on the ideal solution of this growing problem from Michael Bloomberg. He states that the right way to address wealth inequality is by raising wages and benefits. “Minimum wage used to mean what you can actually live on.” He also believes that the government should providing basic needs for its people. These needs include food stamps, welfare, paid sick days, paid family leave. Unlike Bloomberg, he strongly believes that taxing the wealthy can really go a long way. Bill de Blasio discusses that wealth empowerment of a very few negatively effect the many poor.
