Posted on 06/04/2015 5:03:26 AM PDT by Kaslin
From the chart you posted the minimum wage reached it’s peak in 1968 at an inflation adjusted $10.56 per hour in 2012 dollars or $1.60 per hour in 1968 dollars. You need to reevaluate your conclusion.
More blacks and women unemployed and on welfare. Democrats get to divide and demonize white males. Union wages and prevailing wages go up. What’s not to love?
I have never believed in the minimum wage concept. For those who do believe it makes sense why ask for a measly fifteen dollars? If it really is that simple why not fifteen HUNDRED an hour? That way a person could work one eight hour shift a week and live like royalty the other six days. The comical part is that anyone but a raving lunatic finds my suggestion absurd but many of them think THEY know what minimum is reasonable.
Bring back the supply and demand curve to the jobs market, and the wage would raise naturally to something a worker could live on. And there could be stability in the job market.
But the mess we have now with the global rush to exploiting the cheapest possible labor is what creates the cries for a minimum wage. That would be wages so low that they have to be subsidized by government handouts, while those sitting at the top of the heap rake in billions.
It's not sustainable.
Personally I think the real truth is far worse than that.
I agree that it is not sustainable but raising the minimum wage is treating the symptoms, it does nothing to alleviate the real problem. It is like taking strong painkillers for a recurring hangover when what you need to do is drink less. The minimum wage simply is an attempt to mask the damage done by government policies and it accomplishes zero in the end.
minimum wage in 1965 was 1.15 and increased to 1.25 in September of that year. So at 1.25 an increase to 2.00 would be a 3/5 increase and certainly be substantial.
Current federal minimum wage is 7.25 and the proposal is more than 100% increase to 15.00
I posted no graph
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