This @NYTOpinion editorial is a huge deal—a refutation of the debunked trickle-down dependence on tax cuts and an embrace of the theory of growth I've been promoting for years: Raise America's wages now. https://www.nytimes.com/2020/11/28/opinion/wages-economic-growth.html

The Times Editorial Board calls on the incoming Biden administration to focus on higher wages for everyone. And they couldn't be more right on. Some of these arguments are practically pulled verbatim from my articles and from @PitchforkEcon.

"Set aside, for the moment, the familiar arguments for higher wages: fairness, equality of opportunity, ensuring Americans can provide for their families. The argument here is that higher wages can stoke the sputtering engine of economic growth." Couldn't put it better myself.

Six years after the Fight for $15, conventional wisdom is finally waking up to economic reality: In order to save the economy, Americans need a huge raise. Their spending will supercharge the economy and create more, higher-paying jobs.

My only issue with this kickass editorial is that it doesn't explain how much we need to raise wages in order to get the economy working for everyone again. In fact, the median American worker should be earning between $48,000 and $63,000 more. PER YEAR!

You read that right. A report this year from RAND calculated the full cost of inequality over the last 40 years: The wealthiest 1 percent of Americans have taken $50 trillion from the bottom 90 percent.

If you want to learn more about that staggering cost of inequality, and what it means for average American workers, @DavidMRolf and I wrote about the RAND report for @TIME in September: https://time.com/5888024/50-trillion-income-inequality-america/

So to be clear, when @NYTOpinion talks about raising wages, we're not arguing over a piddling percentage point or two. We must reverse 4 decades of trickle-down damage by significantly growing the paychecks of America's workforce.