Based on consumption growth since 1968, the minimum wage today would have to be $25.05 to represent the same share of the countrys total consumption. Based on national income growth, the minimum wage should be $22.08. Based on personal income growth, it should be $21.16. No matter how you look at it, the minimum wage shouldnt be $7.25 an hour, or even $10.55 an hour. Even the most progressive demands for the minimum wage are way too low. Based on consumption growth since 1968, the minimum wage today would have to be $25.05 to represent the same share of the countrys total consumption. Based on national income growth, the minimum wage should be $22.08. Based on personal income growth, it should be $21.16. No matter how you look at it, the minimum wage shouldnt be $7.25 an hour, or even $10.55 an hour. Even the most progressive demands for the minimum wage are way too low. Too many Americans are not making enough money. Working Americans should be making a fair wage!Too many Americans are not making enough money. Working Americans should be making a fair wage!
Posted on: Sat, 30 Aug 2014 20:01:35 +0000
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