I read with both amusement and anger the CEO Business Roundtable's "statement of purpose" from Aug. 19, a continuation of the farce that has been going on for far too long ("Top CEOs re-evaluate priority on stock profits," Aug. 20). Most of the challenges the CEOs address can be solved by replacing all statements with a single commitment: They can each pledge to paying at least a minimum living wage of $18 per hour, or $36,000 per year, for every employee in their enterprises and require their supply-chain partners to do the same.
It is an economic fact that total productivity growth drives total real-wage growth. If the minimum wage had simply tracked with growth since the catastrophe of former President Ronald Reagan's trickle-down economics, the minimum wage would be over $20 per hour today. Where did the trillions go over the past 40 years? To the executive and investor class who once again try to pacify us with smoke and mirrors.
Here is the great secret these leaders, and the politicians they support, do not want to discuss. The great transfer of wealth has not been due to our country's social and economic safety nets for those in need, but the other way around: the insidious transfer of wealth from workers to executives and owners through relentless wage suppression on Main Street and ridiculous tax policies on Wall Street.
A minimum wage of $18 per hour right now would dramatically increase government revenue, decrease safety-net spending, and increase real economic growth. Yes, this requires some structural change in our economic system and perhaps a reduction in obscene executive pay (their long-term wealth is already guaranteed). And that's exactly what courageous, values-driven CEOs should support in a nation rapidly destabilizing due to socioeconomic inequality.
Chris Ellis, St. Paul
CLIMATE CHANGE
It's happening. Let's get moving.
This is a response to the letter writer who takes issue with James P. Lenfestey's commentary on David Koch ("A shameful legacy of anti-science influence," Aug. 27), the letter writer who states that climate change is left-wing scaremongering ("Warning that 'doomsday' is coming is just left-wing scaremongering," Aug. 28). He alleges the left is predisposed to using tactics like fear, character assassination, distortions, demagoguery and hysterical screeds. That sounds more like the current president than anybody else, but I digress.
A simple Google search netted me 18 American scientific societies that state greenhouse gases emitted by human activities are the primary driver of climate change. If that isn't enough, there are nearly 200 worldwide scientific organizations that state human action is the cause.
Does the letter writer think that all the pollution we create just magically disappears, like his bowl of Lucky Charms every morning? There is no conspiracy by China, there are no "alternative facts" here. There is only one planet Earth, so we best act like it.
Kent Smith, Minneapolis
• • •
I don't know if climate change denial is "morally reprehensible, self-dealing and unpatriotic," as a recent letter writer said the left makes it to be.