[Red Jones]

If you want to see the original information from Economic Policy Institute, then click on the link and look for info on Minimum Wage, you'll find it. The original has a chart in the form of a GIF. I don't have a host web site to post a GIF, so I just copied down the numbers and made a table out of it for your review.

What this statistic does not show is the number of workers working at minimum wage, or more importantly the percentage of the total working at minimum wage. During the mid 1980's the percentage of people working at minimum wage declined significantly, so that is not shown here.

I've known for a long time that the bottom 70% have been getting worse off rather than better off since 1970 when you measure the amount of dollars they work for in an individual job and how far those dollars go in the economy. I know that because I read detailed articles about it 15-20 years ago in conservative journals like National Review. This information was published by a liberal research group.

Housing prices have gone up much faster than inflation. Many economists feel that the government's measure of inflation under-estimates the real change in costs that people face to actually live.

Since 1970 there were only about 3-4 years during the mid 1980's when we had real economic progress for the broad cross section of americans including the middle class and poor. During the 90's boom the stats show that the poor did not really have their boats lifted.

The welfare of the American population is simply not a priority to our nation any more. Our government began making decisions around 1970 that have resulted in lower incomes for most americans. It is continuing that today. Ronald Reagan was the one politician who tried to do things differently. He wanted prosperity for all, as if our nation was an extended family. He ran into a huge amount of hysterical opposition as a result and by the end of his time in office congress was walking all over him. But he gave it a sincere try. We can't say that about any of our other leaders. The two Bushes have been particularly hard on the poor and the middle class with their policies.

[Red Jones]

bump

[weikel]

Minimum wage increases unemployment very simple. Its a bad leftist idea.

[woofie]

As I suspected, 1969 was a good year to be dumb and happy

[Starrgaizr]

You can nicely correlate the real minimum wage since the 1940s with the ratio of black to white youth (16-24) unemployment.

[aruanan]

The fall in real dollars is a good thing. It allows employers to pay inexperienced workers at a rate closer to what they deserve and keeps him from wasting money for nothing. The ideal would be no minimum wage at all, allowing people with next to no skill to be employed and get a start in the workforce instead of being shut out by an economically nonsensical minimum wage.

[Petronski]

Tables are nice, but you need a graph.

[leprechaun9]

When I consider that most of the taxpayers who earn Minimum Wage pay very little, if any, FEDERAL INCOME TAX, but do pay Social Security, I must conclude that most of the pimps of the election industry who push for these increases, do so, to add additional funds to the Social Security (mis)TRUST FUND!

Benevolence for the worker is never a consideration!

[The Electrician]

Where does the 'earned income tax credit', food stamps, underground (off the books) economy, other sources of assistance, and the like enter into the picture? Focusing solely on minimum wage is hardly a complete or accurate picture.

[Red Jones]

another aspect of this whole equation is the tax burden. Even people working at minimum wage pay a significant payroll tax. But it seems that the most heavily taxed people draw a paycheck at between 70,000 and 87,000 a year. These people pay the payroll tax at its' full rate, then they pay income tax on the same income. They're still double-taxed unlike dividend income earners. Paychecks above 87 grand don't pay payroll tax on the amount above 87 grand. So, their marginal tax rate goes down quickly.

[zeaal]

I pulled out my first pay stub (it's in a HS memory book). May 4, 1978. 37.25 hours at 2.35 per hour. Total 87.53. I was RICH! According to the table, that 37.25 hours translates to 242.13 to 2000 dollars. Doggone, I was rich.