2 ms·
This is good argument for increasing minimum wage. The federal minimum wage is still only $7.25. Inflation adjusted, it has been decreasing since 1968 [1]. Once
by mareko 6y ago
This is good argument for increasing minimum wage. The federal minimum wage is still only $7.25. Inflation adjusted, it has been decreasing since 1968 [1]. Once you factor in rising healthcare spending, which has gone up by 5.5x in the same timeframe (inflation adjusted) [2], the problem is further compounded.
Given the high GDP growth in the same time frame, it feels like a big miss by the federal government.
1. https://www.cnn.com/interactive/2019/business/us-minimum-wage-by-year/index.html https://www.cnn.com/interactive/2019/business/us-minimum-wag...
2. https://www.healthsystemtracker.org/chart-collection/u-s-spending-healthcare-changed-time/#item-nhe-trends_total-national-health-expenditures-us-per-capita-1970-2018 https://www.healthsystemtracker.org/chart-collection/u-s-spe...