that income does not necessarily only refer to earned income like wages and tips. This professor must be including unearned income in his statement such as dividends, interest, welfare and unemployment.
So, what this professor must be supporting is that all workers receive more in earned income than the average of all incomes (earned and unearned). So, we must reduce the amount of dividends, interest, welfare, and unemployment while at the same time increasing the number of people that survive on these unearned incomes in order pull down the average so that all earned income is above the average of all incomes.
Or, we could pay the work force so much that companies will have to lay off people (which has the added benefit of increasing the number of unearned incomes from unemployment). It also sends the stock dividends down because companies will be losing money. |
