When A Minimum Hourly Wage Of $1.25 Is Better Than Ten Bucks
It looks like California is going to raise the minimum wage to $10/hour. I don’t need to tell the crew here what a job killer this will be. I will point out something my friend James Hansen posted on Facebook:
By 1964 Standards: Minimum wage was $1.25 per hour. $.25, (a quarter) was pure silver. Today those 5 quarters are worth $28.50. So….$15.00 is the equivalent of $.63 per hour in 1964. This is what your government has done to the monetary system in 60 years simply by continuing to print money!! You really think you are better off?
Think about this: minimum wage workers would be almost three times more prosperous today if our money actually had tangible value. It ain’t about the money in politics. It’s about the politics in money.