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This is a place where I post interesting things that I find and cant categorize into one of the main subs I follow. Enjoy a front seat as i descend into madness

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Minimum wage would be $26 an hour if it had grown in line with productivity (www.cbsnews.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 1 year ago (1 children)

Now adjust for inflation on top of that.

[–] [email protected] 6 points 1 year ago (1 children)

https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=1.15&year1=196101&year2=202111

Inflation isn't that much on its own. It would be about $10 per hour according to the inflation calculator, but inflation calculators also don't take CoL changes which have skyrocketed.

I don't know what math they used to get the $25 number, but inflation might be baked into it anyways. No way 1000% on top of $25 would be realistic is any way.

[–] [email protected] 4 points 1 year ago

The CPI does not accurately reflect how worthless our money has become, in my opinion. I'm unemployed now, but when I was making 140k USD/year a couple months ago it felt to me like that minimum wage should be about there. It's enough to feel comfortable and safe, without much luxury. This ought to be considered the absolute bare minimum quality of life for full time workers and their dependents in the world's wealthiest nation.