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March 13, 2015

Wall Street Bonuses vs. Total Earnings of Full-Time Minimum Wage Workers

The Wall Street bonus pool for last year is roughly double the total earnings of all Americans who work full time at the federal minimum wage.
 
That claim, which comes from a new report from Sarah Anderson of the Institute for Policy Studies, is one of the more striking sound bites I have heard in quite some time. And so I thought it worth digging in to the data to see if it checks out. Short answer: It does, although given the uncertainty in these sorts of calculations, the precise ratio could easily be a bit higher or lower.
 
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Read the full New York Times article by Jason Wolfers here.
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