Ray From Cleveland
Diamond Member
- Aug 16, 2015
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The purchasing power of the $1.60 minimum wage in 1968 was about $11.00 in today's dollars. Since then, the purchasing power of minimum wage has dropped more than 25% while productivity has gone up more than 150%
Technology made productivity go up, Illegals and a global economy made wages go down.
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Employers are getting much more output from employees for much less money. Illegals and global economy have nothing to do with minimum wage.
Say what?
It's employers spending capital on technology that gets more productivity out of them
What do you think people still use a typewriter now?
So in your world 60 million more people in the US since 1980 doesn't dilute the wages,,, .how is that not possible?
A global economy of cheap labor doesn't lower wages in the US?
How fucking stupid are you?
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Minimum wage not keeping up with inflation is a major source of real wage decrease.
So who said it was to keep up with inflation? From what point?
The minimum wage was signed into law in 1936. The minimum wage was set at .25 cents per hour. In todays dollar, that's about $4.50 an hour.
So if you want to keep pace with minimum wage, we need to knock it down by about three dollars an hour.