[nep321]

Originally Posted by BobNJ1960

FDR set it up at 25 cents/hour, equal to $4.74 today. Our 2021 MW is more than 150% as high as FDR's quarter, adjusted for inflation. So in keeping with your logic, the MW should be cut to $4.74, to abide by FDR's wishes.

$1 then = $18.94 now.


https://www.in2013dollars.com/us/inf...01%2C778.56%25.

https://www.dol.gov/general/aboutdol/history/flsa1938

FDR specifically said that it was meant to be a living wage and that NO business which doesn't pay at least a living wage should have any business continuing in this country.

Regardless of what FDR said, no one should be paid so low that they (a) can't survive or (b) need government assistance to survive.

The free market is a farce and there's absolutely no mathematical reason why all American's can't be paid at least a living wage. The only reason why it's stuck at $7.25 to this day is because of corporatists and capitalists who have lobbied against it tooth and nail to boost their own profits.

65% of Americans agree that it should be raised to at least $15 an hour. Personally, I think it should be $17 an hour. And also increase the top income tax rates to at least 50%. Tax all capital gains at the ordinary rates. Mandatory overtime pay even for salaried employees nationwide. And federally required 4 weeks minimum of paid vacation time. Reduce the standard work week from 40 hours to 28 hours (Germany is moving in this direction). This is all doable. It's simply a reconfiguration of the whole existing formula.

[BobNJ1960]

Originally Posted by nep321

FDR specifically said that it was meant to be a living wage and that NO business which doesn't pay at least a living wage should have any business continuing in this country.

.

LOL. $11 a week (for 44 hrs, btw, and it was all straight time pay in 1938, no OT laws existed) was 2/3rd what the $290 today would be (40 * 7.25), adjusted for COL.

[Reilly1017]

Jay is gonna come in here and post a “get back on topic” so I’ll say that (1) minimum wage should not be standardized across the entire country. We have too diverse a country with wild differences in cost of living and cost of labor. Rural Nebraska versus San Francisco are not the same and no reason why $15 minimum should be the same across the board. $15 in rural Nebraska you can live, San Fran you barely can either TV assistance.

Back to CT, I think the main keg here is part time jobs should have been included if you do it at all.

[JayCT]

Originally Posted by BobNJ1960

FDR set it up at 25 cents/hour, equal to $4.74 today. Our 2021 MW is more than 150% as high as FDR's quarter, adjusted for inflation. So in keeping with your logic, the MW should be cut to $4.74, to abide by FDR's wishes.

$1 then = $18.94 now.


https://www.in2013dollars.com/us/inf...01%2C778.56%25.

https://www.dol.gov/general/aboutdol/history/flsa1938

Besides the fact that it was a very different world back then and that amount was an initial amount to begin the standard, you forget that the amount was increased many times over the past 80 plus years. It was raised to $1.60 in 1968 which is almost $12 in today’s money. Given that Congress is so slow in raising the rate, it’s not out of the question that it should go to $15 by 2025 where it will likely remain for years.

Connecticut has always been higher than the national minimum wage. I would expect that to be true with the federal minimum. Jay

[JayCT]

Please stop the bickering and return to the topic of the OP. JayCT, Moderator

[BobNJ1960]

Originally Posted by JayCT

Besides the fact that it was a very different world back then and that amount was an initial amount to begin the standard, you forget that the amount was increased many times over the past 80 plus years. It was raised to $1.60 in 1968 which is almost $12 in today’s money. Given that Congress is so slow in raising the rate, it’s not out of the question that it should go to $15 by 2025 where it will likely remain for years.

Connecticut has always been higher than the national minimum wage. I would expect that to be true with the federal minimum. Jay

$7.25 is close to the median point of the MW historically adjusted for inflation.

[JayCT]

Originally Posted by BobNJ1960

$7.25 is close to the median point of the MW historically adjusted for inflation.

I’m not sure what your point is. That means nothing. The point is the US minimum wage is insufficient to even come close to live on. It’s past due to be increased. Jay

[7 Wishes]

Originally Posted by JayCT

Given that Congress is so slow in raising the rate, it’s not out of the question that it should go to $15 by 2025 where it will likely remain for years.

Actually they should make a raise since it hasn't been in 12 years, then going forward raise it every year at the rate of inflation automatically like some state (I believe NJ and WA come to mind) do.

Originally Posted by BobNJ1960

Looking forward to September when the $300 ends, and logic returns to decision-making. This $1,000 bribe is simply the latest stupid decision the government made since covid began. We did not overreact with free gifts for the unemployed when the Great Recession struck. People took the corrective actions needed, rebuilding new careers when needed.

This time, we overreacted, and created labor market problems.

When I first joined C-D, it was during the Great Recession and I was often on the Employment forums. I remember the big mantra then was "why are they giving people unemployment for TWO YEARS? Cut it off and make them take any job".

Originally Posted by BobNJ1960

This nation was stupid enough to pay them to be "on the dole". Requirements of seeking work being ignored or eliminated-should NEVER have occurred

The reason we did all this to begin with is the majority of workplaces had to be CLOSED DOWN and many people who normally would not qualify for U/E were in p/t jobs that couldn't be done on Zoom. It was so people didn't feel forced to risk their lives going to work and prevented virus spread by people feeling forced to go out to work. The issue is how long we dragged it out. It's clear we don't need it now but as recently as last December it wasn't, maybe they should've just done it another 3 or 4 months then revisited whether to renew. We don't need it now, but pulling it after promising it through September will be a political third rail like changing Social Security. So though it seems like a "perverse incentive" the bonus makes sense to get more people off before September. As I said early in this thread, even Trump proposed this.

[BobNJ1960]

Originally Posted by JayCT

I’m not sure what your point is. That means nothing. The point is the US minimum wage is insufficient to even come close to live on. It’s past due to be increased. Jay

Its sufficient as it is an entry level wage. If one is still there decades later, w/o having added skills, education, training, that does not modify their value in the marketplace.

[ckhthankgod]

This article reminded me of this thread, which I was reading yesterday...

The Myth of Labor Shortages: https://www.nytimes.com/2021/05/20/b...vid-wages.html