Wayne Bostick: Workers’ economy

March 2, 2014 

The Feb. 9 business column by Nelson D. Schwartz “The middle class is eroding – just ask the business world” confirmed what I’ve always believed – just how much this economy depends on the middle class.

Businesses have been built on targeting middle class consumers who have just enough disposable income to purchase moderately priced clothing or occasionally splurge on a meal at a restaurant like Olive Garden or Red Lobster.

But now that the workers’ wallets are being stretched thin in a stagnant economy, those luxuries have gone away. And who else suffers besides workers? Businesses who cater to the middle class.

It’s time we stop giving tax breaks to ultra-wealthy residents and corporations. Trickle-down economics doesn’t work. It only allows those with money to buy more high-end products, while sales increase at dollar stores across the country and North Carolina.

Pay a living wage, and the economy may flourish as it once did by creating larger markets of consumers who can afford to splurge on a meal every once in a while or shop at stores for clothing instead of thrift shops. It’s plain and simple: What’s good for workers is good for business.

Wayne Bostick

Raleigh

News & Observer is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service