Loading ...The primary problem with this artificial system is, they never adjusted the cost of living increases honestly. On account of that, the $1.25 minimum wage in 1962, is far too low, in the NY area that I know of.
In 1962 the cheapest car you could buy was a VW Beetle, cost about $1,000-$1,200. So, in other words, 1000 times the minimum wage, bought the cheapest car in town…
The cheapest car in town today?? $20,000? Minimum wage should be $20 per hour. Keeping it LOWER than $20, means the tax PAYERS are supporting or subsidizing businesses that pay less. Corporate welfare. They even allow businesses to hire foreigners by having things made overseas and imported.
I knew back in the 1970s the future looked bad for the country as a whole. The artificial low minimum wage also automatically held down all other wages too. Because if the entry level guy made $20, all the skilled folks already making $20 would be under paid and automatically be worth more than the entry level. The skilled people should make at least $40/hr.
I’m certain TPTB know what I know, but they are BUSINESSES that influence or control our elected officials, and there is no motivation for them to do the right thing for the country, the USA.
I think they are starting to realize, keeping wage costs below normal is starting to back fire on them. Its all very simple.