Ask Nick Anything

Pitchfork Economics with Nick Hanauer

Civic Ventures

News, Business, Government, Politics

4.7 • 1.5K Ratings

🗓️ 27 July 2021

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nick and Goldy answer your questions! If we had progressive taxation, would we still need means testing? Can we send ultra-rich people away to their own economy? What are the best economic indicators for the progressive economy? And more! Thanks to Lisa from Indianapolis, Rick from Baltimore, Jacob from Portland, Sean from Philadelphia, Linda from Seaside, and Frank from Georgia who left the great voicemails included in this episode! If you have any questions for a future AMA episode, leave us a voicemail at 731-388-9334. Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Transcript

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0:00.0	I have a question for how do we get democratic lawmakers to fix their economic messaging?
0:06.0	Why is the minimum wage a flat dollar amount instead of a percentage tied to the cost of living?
0:13.0	I'm just curious what the best economic indicators might be for us who are kind of watching the economics of the country to reflect market
0:23.3	humanism, as you called it.
0:24.7	Thank you so much for taking my question.
0:32.4	From the home offices of civic ventures in downtown Seattle, this is pitchfork economics
0:37.3	with Nick Hanauer,
0:39.1	the best place to get the truth about who gets what and why.
0:48.5	I'm Nick Hanauer, founder of Civic Ventures.
0:51.9	I'm David Goldstein, Senior Fellow at Civic Ventures.
0:57.0	On this week's episode of Pitchfork Economics, we are doing another AMA. Ask Me Anything,
1:06.0	and we have some awesome questions. So let's get to it.
1:10.0	This is Lisa from Indianapolis. Why is the minimum wage have some awesome questions. So let's get to it.
1:17.8	This is Lisa from Indianapolis. Why is the minimum wage a flat dollar amount instead of a percentage tied to the cost of living? Thanks. Well, the answer, Lisa, is politics.
1:27.2	Obviously, we shouldn't have this fight about raising the minimum wage. It should be
1:32.9	indexed to something. Nick, what would you index it too? You know, Lisa's idea is something
1:39.5	that I never actually have considered. It's a fascinating idea. And of course, the intent of the minimum
1:47.2	wage is that it does represent some reasonable fraction of what it costs to live. And for sure,
1:55.3	her question highlights a really important issue, which is that the minimum wage, national minimum wage in the past,
2:03.1	has not been indexed to inflation or cost of living increases, which means that you have to have
2:09.6	this ridiculous political fight every five or 10 years to raise it again. Of course, if we just
2:14.6	passed a national minimum wage and indexed it to productivity
	...

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