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The CBO fails at basic math and follows an arbitrary date

Posted on: February 8, 2021 at 15:12:31 CT
Spanky KU
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The federal minimum wage was first set in 1938 at 25 cents an hour. Had it tracked the cost of living since, it would today be $4.07 an hour, based on Labor Department data and the Bureau of Labor Statistics’ inflation calculator.

Advocates of a higher minimum wage arbitrarily selected 1968 as the historical reference point. It’s no wonder: That’s when federal minimum wage hit its inflation-adjusted high point.

How about picking other arbitrary years to track the minimum wage and inflation? If you used 1948 instead of 1968, the minimum wage’s inflation-adjusted value would only be $3.81 an hour. If you chose 1988, the adjusted minimum wage would be $6.50 an hour.


https://www.wsj.com/articles/SB10001424127887323297504578581713697723412
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$15/hour will cost 1.4 million jobs but "raise" 900k people - Ragnar Danneskjold MU - 2/8 14:40:07
     That’s child play for the $15/hr supporters - MIZ45 MU - 2/8 16:48:00
     How does it raise them out of poverty when the cost of every - Kushy MU - 2/8 15:15:52
     RE: $15/hour will cost 1.4 million jobs but "raise" 900k people - sarasotatiger MU - 2/8 15:13:38
          taxable tax bracket: Only if an employer is willing to pay - BH O'bonga MU - 2/8 16:27:23
     The CBO fails at basic math and follows an arbitrary date - Spanky KU - 2/8 15:12:31
          RE: The CBO fails at basic math and follows an arbitrary date - sarasotatiger MU - 2/8 15:15:33
               Bet you fail - Spanky KU - 2/8 15:26:20
     The reality is that anyone attempting to raise a family - 4TigersinMichigan MU - 2/8 14:46:00
          THAT is the point. Not all jobs, especially entry level - hokie VT - 2/8 15:05:51
               The 'family of 4' story is simply a canard by the Dems - Spanky KU - 2/8 16:38:55
               RE: THAT is the point. Not all jobs, especially entry level - sarasotatiger MU - 2/8 15:21:55
               Duh. That is what minimum wage was designed to do. Keep - TigerMatt STL - 2/8 15:07:39
          Less than 2% of American adult workers make minimum - Spanky KU - 2/8 14:58:12
               If it makes no difference...then why all the opposition?(nm) - meatiger MU - 2/8 15:00:47
                    lol, gods below you're fvcking stupid (nm) - 90Tiger STL - 2/8 20:23:08
                    As stated in my post: 'It is a solution in search of a - Spanky KU - 2/8 15:04:25
                         I don't disagree with you - meatiger MU - 2/8 15:06:55
                              So it isn't needed..... Dems mistake activity for - Spanky KU - 2/8 15:10:09
               what % make< $15/hr? (nm) - SwampTiger MU - 2/8 15:00:06
                    about 40% (nm) - ashtray UF - 2/8 15:34:45
                    What difference does that make? - Spanky KU - 2/8 15:08:51
                         about $7/hr - SwampTiger MU - 2/8 15:25:06
                    roughly 40ish%* - meatiger MU - 2/8 15:04:02
                         seems high - SwampTiger MU - 2/8 15:26:35
                              that is all I could find - meatiger MU - 2/8 16:49:24
     RE: $15/hour will cost 1.4 million jobs but "raise" 900k people - MUTGR MU - 2/8 14:45:03
     Bank tellers start at $20/hr now. It takes effort to find a - TigerMatt STL - 2/8 14:42:49
     Even crap jobs will need a person - meatiger MU - 2/8 14:42:01




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