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Instead, the federal minimum wage is stuck at $7.25. Its nominal value has been frozen there for 8 years.
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If the minimum wage had grown with productivity since 1968, it would be $19.33. #RaiseTheWage HT @metaCoop
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After factoring inflation in, today's minimum wage workers are guaranteed $2.65/hour *less* than their counterparts from 1968. #unacceptable
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The Raise the Wage Act would do even better - it would index it to median wages!
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Yes, kudos to them all on the bill, but we must fight tooth and nail for action well before 2021.
When it says minimum wage was 9.90 in 1968, that's factoring in inflation, yes?
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So what? Is there some logic that says it should track? Prior correlation is meaningless.
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Here's one rationale: prospect.org/article/why-15. I also discuss some related points in this podcast episode: soundcloud.com/otepodcast/epi.
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True, but min wage is not good for low income, low skill earners. It prevents hiring and encourages investing in tech! THINK b4 you speak!
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