In 1955 the Federal minimum wage was $0.75. Seventy-Five cents. A item that cost $1.00 in 1955, today costs $8.59. How did ANYONE benefit?
Originally Posted by sunnyside
Your chart shows EXACTLY THAT. 1950 the minimum wage was just under $6.00 in 2010 dollars, and WELL under $6.00 in 2010 in 2010 DOLLARS.
INFLATION will always overcome ANY minimum wage,,,,,,ALWAYS, without exception. And ALWAYS, without exception, causes a larger problem in the future.
That's liberalism in a nuttyshell. Fix yesterday's problem with MORE of the same today, and ignore tomorrow.
DON'T BLAME ME, I DIDN'T VOTE FOR THE FOOL! X 2
LIBERALISM,,the new front name for,,,COMMUNISM
TWO people spending ONE person's money, DOES NOT improve the economy!
"Money is better than poverty, even if its just for financial reasons."--Woody Allen