Minimum Wage is a Broken System - Here's Why (and Why You Should Care)

Money Rehab with Nicole Lapin

Money News Network

Education, Self-improvement, Business

4.6 • 1.7K Ratings

🗓️ 29 June 2021

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the United States, there are 1.1 million workers making minimum wage or below. Nicole breaks down why they should all be making more. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hey guys, are you ready for some money rehab?
0:05.0	Wall Street has been completely upended by an unlikely player. Game stop.
0:09.7	Dean and should I have a 401k because I don't do it?
0:12.5	No, I know.
0:15.3	I don't think the whole world will revolve around you on your money.
0:17.6	What a dumb shit.
0:19.7	Charge for wasting our time.
0:23.8	I will take a check.
0:24.9	We're going to pull you through.
0:26.8	You recognize her from Anchoring on CNN, CNBC, and Bloomberg.
0:31.2	The only financial expert you don't need a dictionary to understand.
0:35.5	The cold lap in.
0:37.1	Today we're diving deep into the topic of minimum wage.
0:41.1	And by the end of this episode, I will convince you that the federal minimum wage should be higher.
0:47.1	So first let's get to the facts.
0:48.8	The minimum wage was created in 1938 as part of a wave of legislation passed on workers' rights.
0:55.3	A minimum wage has been established.
0:59.0	The concept is an obvious one.
1:01.4	A maximum work week of 40 hours has been fixed.
1:05.0	In an effort to ensure that workers aren't taken advantage of by their companies,
1:09.1	the US government set a minimum guarantee for hourly pay.
1:13.0	If you get paid less, either the state or the federal government will step in and act on your behalf.
	...

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