Why shouldn't the min. wage have the same buying power now as in 1970?

Increasing the min. wage to $15.00 an hour would only return the buying power of that wage to what it was over 40 years ago. It may be more dollars, but it isn't 'a raise'. In real life ALL Americans who work for wages are now making less in terms of buying power than 40 years ago. Meanwhile the 'investing class' and corporations are making far more BECAUSE of these low wages. Shouldn't that be an issue?

Anonymous2014-06-10T13:00:15Z

There shouldn't be a min wage. If you're a good worker you'll make good money. If not, the opposite will be true.

Mother Hubbard2014-06-10T13:04:00Z

When we had it THAT GOOD we protested a LOT!!!
WE WERE POLITICALLY ACTIVE!!
The 1% feels best if we DON'T TALK BACK!!!

They KILLED MLK, too.

Like Gwyneth Paltrow said!!-- When they can HEAR US- it's like a war!!
They like ONE WAY communication!!

u_bin_called2014-06-10T13:00:09Z

um..... maybe because the DOLLAR itself doesn't have the same buying power?


honestly..... is there any room in school these days for old-fashioned subjects like history and economics... or is it just dogma and that self-esteem stuff?

Anonymous2014-06-10T21:34:37Z

A higher minimum wage can result to the following:
-fewer employees
-lesser hours for current employees
-increase in prices of products or services sold
-greater purchasing power for workers with the revenue going back to businesses they patronize and products or services they avail of or purchase

In relation to the minimum wage battle, here's an interesting report: http://bitly.com/1n4lqIa.

The Oracle of Omigod2014-06-10T13:31:49Z

Because in 1970 there were not an additional twelve million people who came here to compete for the unskilled labor positions. It's a simple law of supply and demand. Raise the minimum wage to $15 per hour and there will be 40 million more unskilled laborers here, in addition to the ones who are born here.

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