California Dem Barbara Lee defends call for $50 federal minimum wage: 'Just barely enough'
California Dem Barbara Lee defends call for $50 federal minimum wage: 'Just barely enough'

California Dem defends call for $50 federal minimum wage: 'Just barely enough'

This sounds high to most people, but if the minimum wage had kept up with its inflation-adjusted peak (1968), it'd be somewhere in the range of $31 to $32 an hour right now.
It never caught back up afterward, and has been severely harpooned in the years since, shifting unfathomable quantities of money to the wealthiest people. And it's not just minimum wage workers... when you sink the wage and salary floor, nearly everyone made less than they should have been.
This is the main roadblock to getting the issue fixed. People making more than minimum but not much more than the increased amount compared their salary and work to minimum wage jobs, never considering that their pay would be raised as a side effect. If people can get nearly the same pay for what they perceive as less work then companies would have to raise wages to keep current and hire new staff going forwards.
Yes other product prices would raise as well, people have more money to spend, but all evidence shows that those would not be the same rate as the wage increase.
It's the classic, "fuck you, I got mine", attitude so prevalent today in our society.
I have a coworker that will bring up how places like Target are starting to offer a minimum wage almost comparable to his wage as a engineering field technician. “It’s fucked up, I mean imagine if they raised it to your wage as a college grad, how would you feel? Random teenagers making as much as you!”
“It IS fucked up, but not for the reason you think. They SHOULD be making more money… but so should the rest of us!”
He usually just mutters to himself and drops it. Propaganda is a helluva drug.
Where did your values come from? I found minimum wage for 1968 at $1.60, which is about $15 an hour today. It's about 45% lower real wages today.
I don't know why you're getting downvoted, $1.60 in January of 1968 is equivalent to $14.47 in 2024. Maybe they're also accounting for the uncompensated increased efficiency of modern workers?
Regardless, it's a legitimate question and getting rebuffed for legitimate questions is a pretty Reddit thing to do. Come on everyone, we're better than this.
... and $50 would be 60% more than that?