Comment Re:barely budged??? (Score 1) 142
Let's see here... In the 40 years you cited, the minimum wage went from $3.25 to $20 and you dismiss that?
Taking credit for the wealth building power of inflation? Also what brand of crack are you smoking to get a minimum wage of $20/hr anywhere? The Federal minimum wage is just $7.25 and the highest of any state is $16.25.
Lets see here - it is better to use a longer time scale as 1985 was after high inflation in the late 1970s and a restriction on minimum wage increases (to fight inflation, you see) led to a serious erosion of minimum wage salaries.
A better comparison is to use a 50 year time line. In 1975 the minimum wage was $2.10/hr which adjusted to inflation is equivalent to $13/hr today. The current Federal minimum wage of $7.25 is so manifestly inadequate that few employers reference that anymore for setting salaries as it is impossible to staff any sort of position offering below poverty level (for a single individual) income. So states have been raising minimum wages to higher levels that have some correspondence with economic reality. But what the sycophants of plutocracy really do not want anyone to think about is that over this same period of time the real per capita income in the U.S. nearly doubled, so that even restoring minimum wage to $13 an hour to eliminate the inflation erosion of the last 50 years, it still avoids passing on any of the doubling in national wealth that occurred during that time.