Two days before Democrats open the new Congress in the majority, CNN business reporter Ali Velshi echoed their liberal talking points on the minimum wage.See my story here.
Liberal activists and Democratic spokesmen are quick to argue that the minimum wage is too low and unfair. But on the January 2 “American Morning,” that argument came from a CNN business reporter.While CNN’s Ali Velshi did note that “a lot of small businesses oppose” the new Democratic majority’s proposed wage hike, he insisted “the bottom line is it’s simply not fair that there has been a federal minimum wage of $5.15 an hour” or “about $900 a week.”His math was way off – $5.15 an hour comes to $206 per week. Velshi probably meant that a minimum wage earner would pull down close to $900 a month, given a 40-hour work week. Pay at $900 a week translates to $46,800 a year, a few hundred dollars more than the U.S. median income in 2005. Of course if pay “fairness” could be legislated by Congress as Velshi advocated, that would be a minor detail.