Correction to prior post:
Originally Posted by DA60
Minimum wage advocates always seem to use the 1960's version - which was the high point. ...
... Personally, I think the MW should equal the poverty line if one were employed at the MW full time.
The current poverty line for the lower 48 states is $12,060. That equals $6.03/hour.
https://aspe.hhs.gov/poverty-guidelines
But I can live with $7.25 and have it go up each year based on the inflation rate. ...
DA60, the federal minimum wage rate has never been detrimental to our nation’s economy. It has always been insufficient and would have been of greater benefit to USA’s economy if it’s purchasing power were greater. The minimum rate was insufficient when the rate’s purchasing power was at its 1968 $1.60/Hr. peak.
I advocate until the rate’s purchasing power’s equal to that of $2.50. in 1968, we annually increase the rate by the greater of 15% or no less than what’s necessary to retain the prior year’s purchasing power. When the rate’s purchasing power’s equal to that of $2.50. in 1968, we should thereafter annually adjust it to retain that purchasing power.
Respectfully, Supposn
I'm Supposn the simple fact of the matter is that you are Accurate.
The Right wants to lie and repeat the same twaddle again and again until those of more malleable character conform to their expectations.
Do not waver, O Intellectual. The sage is so outnumbered by the trollish and puerile mind of lessers.
Every year the Minimum wage is put in its place, the year after that the Big Businesses of America are subsidized by the annual inflation differential.
The 7.25$/hr Federal Wage is worth 25% (actually much more) less in real terms since its introduction.
Here in NJ we raised the Wage to 8.38$, indexed to a CPI. New Jersey, as most TAXED LEFT WING BLUE STATES, contribute in net more to the federal government than they recieve. And despite having a terrible, absolutely abhorrent Red government (Christie is awful. Still Einstein compared to who Racisted his way into a presidency) our state government has no imploded in joblessness, crime and general miasma.
Compare that to net capital drains like many Red TAX FEARING states.
Us Left Wing True Blooded God Fearing Patriotic Americans need to stop paying the Red states and their constituency for being ignorant.
We have to stop subsidizing the Rednecks' way of life. We must compel States to meet their own financial obligations. Do that and see with what celerity the Red unAmerican party falls.
Supposn, look at any graph of real wages and real non farm productivity since the 60s. Real wages have been essentially stagnant since 1973.
Credit cost has gone down. Credit availability has increased, and leverage is at an all time high for the consumer.
These additional service and interest costs go into the capital accounts of Big Business USA.
Increased real wages would lead to Americans more capable of servicing debt, perhaps even more prone to spend their hard currency versus the need to purchase a new crib on Credit.
Look at the Psychology of Wages.
We don't want Money, WE WANT MORE MONEY THAN SOMEONE ELSE.
Money is a metric.
A high minimum wage may be the only alternative to automation's efficacy. It is increasing the necessity for a basic income guarantee.
The Right wing does not understand what it means to be inure.
Listen with deaf ears at the scurrilous nonsense they launch with such vitriol and conviction.
They are wrong, my friend. Full Stop.
