If you look at the federal minimum wage law from when it was - TopicsExpress

If you look at the federal minimum wage law from when it was established in 1938 it was $0.25. 30 years later due to inflation the minimum wage was adjusted to $1.60 at that time Americas money was still backed by gold and silver. Now fast forward to 1973, Nixon removed the dollars backing of gold and silver, with unchecked inflation the minimum wage had to be increased to $2.00. 34 years after that, in 2007 the minimum wage was increased to $5.85. And 2 years after that, in 2009 the federal minimum wage was increased to $7.25. And now the President wants to increase the wage to $10.10 an hour. After the removal of the gold standard the value of the money supply has quickly decreased due to unchecked inflation. The only people in politics who truly want to help poor people will advocate bringing back the Constitutional gold standard to drastically lower prices. That will help poor people more than any government assistance program or minimum wage increase.

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