and the ‘Massacre’ at ’60 Minutes’

Recently, U.S. corporate profits have been surging. In the 2020s, they have reached record highs. Unfortunately, instead of sharing that wealth by compensating employees, strengthening the company, or reducing the burden on consumers, they are spending the majority of these profits on themselves through stock buybacks and dividends.

 

At the same time, our government is spending $150 billion annually on public assistance programs. That is $150 billion of our tax dollars that subsidize very profitable corporations because they pay their employees poverty wages.

 

Now, here come the ultra-rich in your article “Minimum wage debate solved” (TribLive, 5/18/26), who say we should not raise the minimum wage. They believe we should continue to allow record-level corporate profit-taking to inflate their already substantial wealth, which is further inflated by their obscene salaries. At the same time, the American taxpayer provides corporate welfare to cover a lack of employee compensation.

 

We should not be surprised by the greed of the wealthy few. Since time immemorial, the aristocracy, like our billionaires, has tried to pay its workers as little as possible.

 

It is past time for us to strive for a living wage for all workers. In doing so, we can reduce poverty and reliance on public assistance. Increasing income for low-wage workers will stimulate the economy because we are a consumer-driven economy. These workers spend their money on necessities, unlike the wealthy, who hoard their money.

​

                                                                                     Sandy Kramer