Elizabeth Warren

U.S. Senator of Massachusettes

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Who is She?

Elizabeth was born on June 22, 1949.


She has a very outspoken personality and is very opinionated.


She is a Democratic U.S. Senator of Massachusettes. She won the Senate position of MA on November 6, 2012 and is the first woman to ever be elected to the U.S. Senate of Massachusettes. Before assuming office, she was a Harvard Law School professor with a specialty in Bankruptcy Law. She was a key component in the conception and establishment of the United States Consumer Financial Protection Bureau. She is apart of both the U.S. Senate Comittee on Banking, Housing, and Urban Affairs and the U.S. Senate Comittee on Health, Education, Labor, and Pensions.

Pros and Cons of Raising the Minimum Wage Rate

Pros:

  • More money in the worker's pocket
  • Raise their annual salary above the poverty line
  • Help get more people off of welfare
  • Boost the economy
  • Increase worker productivity


Cons

  • Raised prices for products
  • Reduced profits of employers
  • Higher unemployment rate

Views on Minimum Wage

She does not want minimum wage to affiliated with worker productivity and uses an example including McDonalds during her campaign in 2012. She claims she ordered a Number 11 meals and the cost came to $7.19. With the gradual raise of minimum wage, to rise in prices would only raise to be $.04 cents more ($7.23). In contradiction to her argument, Dube, said that not all restaurants are the same, to increase in prices would be much greater in a sit-down restaurant.


In another argument, she said,“If we started in 1960, and we said [that] as productivity goes up … then the minimum wage was going to go up the same … if that were the case, the minimum wage today would be about $22 an hour.” However, Dube suggested that going back fewer years that 53, the minimum wage today would round out to be $33 per hour.


Warren argues that raising the minimum wage to $10.10 per hour gradually over a span of three years wouldnt be as damaging to the employment rate and the economy as critics suggest. Obama, as well as Warren, stand behing the $10.10 minimum wage proposal.