Wall Street bonuses exceed all minimum wage pay in 2013

[pam4water]

03/13/2014
Wall Street bonuses exceed all minimum wage pay:
The total amount of bonuses paid to Wall Street workers was $11 billion more than the total amount made by all full time minimum wage workers in 2013.


Link to the video clip here

http://www.msnbc.com/all-in/watch/wall-street-bonuses-exceed-all-minimum-wage-pay-194566211783


I think this is the original story here:
http://otherwords.org/wall-street-bonuses-vs-minimum-wage/

[truedelphi]

1. But the Wall Street people - they work hard for

Those bonuses.

Unlike the rest of us parasites.

[enough]

2. Every so often a fact shocks, even when you think you are beyond shock. (nt)

[Hoyt]

3. Pay em even more for all I care, just tax the living crud out of them.

[elehhhhna]

4. THIS should be shocking and huge. REC THIS THREAD.

[snot]

5. Here's an excerpt from the same article:

New figures show that . . . . {t}he $26.7 billion Wall Streeters pocketed {in 2013} in bonuses would cover the cost of more than doubling the paychecks for all of the 1,085,000 Americans who work full-time at the current federal minimum wage of $7.25 per hour.

And boosting their pay in that way would give our economy much more bang for the buck. That’s because low-wage workers tend to spend nearly every dollar they make to meet their basic needs. The wealthy can afford to squirrel away a much greater share of their earnings.

When low-wage workers spend their money at the grocery store or on utility bills, this cash ripples through the economy. According to my new report, every extra dollar going into the pockets of low-wage workers adds about $1.21 to the national economy. Every extra dollar a high-income American makes, by contrast, only adds about 39 cents to the gross domestic product (GDP).

* * * * *

If the $26.7 billion Wall Streeters pulled in on their bonuses last year had instead gone to minimum wage workers, our economy would be expected to grow by about $32.3 billion — more than triple the $10.4 billion boost expected from the Wall Street bonuses.

{Emphasis supplied.}

[mostlyconfused]

6. So how do we get the money to small business owners?

That money "would cover the cost of more than doubling the paychecks for all of the 1,085,000 Americans who work full-time at the current federal minimum wage of $7.25 per hour". If we just raise the minimum wage, it comes out of the pockets or profits of small businesses predominantly, or they cut jobs because they cannot afford the increase. It doesn't do a thing to the Wall Streeters.

How do we get the money from the Wall Streeters and give it to the small business owners so they can afford to pay the increase without just cutting jobs or raising prices?