March 15, 2015
Wall Street bonuses rose 3 percent last year, despite a 4.5 percent decline in industry profits. The size of the bonus pool was 27% higher than in 2009, the last time Congress increased the minimum wage.
The author, Sarah Anderson, directs the Global Economy Project at the Institute for Policy Studies. She goes on to advocate for not only regulating those bonuses of Wall Street bankers but also raising the minimum wage, explaining why and how both actions would have a positive effect on the economy:
...every extra dollar going into the pockets of a high-income American only adds about $0.39 to the GDP. By contrast, every extra dollar going into the pockets of low-wage workers adds about $1.21 to the national economy.