Watch: How Congress Has Been Robbing Low-Wage Workers since 1968 Not many Americans know that the value of the minimum wage has dropped significantly since its peak in 1968. One could have bought a grocery basket full of food with only one hour’s worth of minimum wage work in 1968 (working out to $10.75 in 2014 dollars) . Today, one would be hard pressed to stretch an hour’s worth of the current minimum wage ($7.25) to buy much more than milk and cereal. Put simply, the actual buying power of minimum wage workers has fallen 33 percent since 1968. Could you imagine the Republican/Corporate uproar had CEO compensation dropped by one-third since that time? Sadly, there is little outrage at the fact that CEO compensation has increased explosively by 1,400 percent between 1968 and 2012. Not so much for workers wages at ANY level; minimum wage or otherwise. Despite the growing income inequality in the United States, Republicans remain shamefully opposed to an increase in the “minimum wage” AND even more opposed to the concept of a “Minimum Livable Wage” as corporate profits (and CEO bank accounts) swell. This informative video from TIME gives a brief history of the minimum wage, showing each year’s increase in the wage and the total 2014 value: youtube/watch?v=tQE0ldkiKo0
Posted on: Tue, 19 Aug 2014 13:05:06 +0000
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