Loading ...Hi, re your part: “As an aside, his lady is a manager of several B+Bs. They can’t find people to clean rooms for $18-$20 an hour.”
Comment: I use a factor of between 15 and 20 from the old days before 1970, to figure constant dollar value.
$18-$20 an hour TODAY, has about half the purchasing of the minimum wage from the 1965-70 era. Half of the old $1.40-$2.00/hr. Putting it back to .70 cents to $1.00/hr.
The PTB can’t possibly make America great again, until the minimum wage is great again. Unfortunately they are STUCK, can’t do it now.
The whole US system grew up and evolved after 1970 with gradually net inflation adjusted cheaper wages, and net real cheaper tax receipts.
Note, $22 trillion tax shortage.