Edge Report post Posted January 26, 2017 Minimum Wage Increases Over the Years October 1938 (FDR): $0.25/hr ($4.15/hr in 2014 dollars) October 1939 (FDR): $0.30/hr ($5.05/hr) October 1945 (Truman): $0.40/hr ($5.20/hr) January 1950 (Truman): $0.75/hr ($7.29/hr) March 1956 (Eisenhower): $1/hr ($8.61/hr) September 1961 (Kennedy): $1.16/hr ($8.97/hr) September 1963 (Kennedy): $1.25/hr ($9.56/hr) February 1967 (Johnson): $1.40/hr ($9.80/hr) February 1968 (Johnson): $1.60/hr ($10.75/hr) May 1974 (Nixon): $2/hr ($9.49/hr) January 1975 (Ford): $2.10/hr ($9.13/hr) January 1976 (Ford): $2.30/hr ($9.47/hr) January 1978 (Carter): $2.65 ($9.51/hr) January 1979 (Carter): $2.90/hr ($9.34/hr) January 1980 (Carter): $3.10/hr ($8.80/hr) January 1981 (Carter): $3.35/hr ($8.62/hr) April 1990 (Bush): $3.80/hr ($6.82/hr) April 1991 (Bush): $4.25/hr ($7.30/hr) October 1996 (Clinton): $4.75/hr ($7.08/hr) September 1997 (Clinton): $5.15/hr ($7.51/hr) July 2007 (GW Bush): $5.85/hr ($6.61/hr) July 2008 (GW Bush): $6.55/hr ($7.12/hr) July 2009 (Obama): $7.25/hr ($7.80/hr) Interesting stats. Min. wage is raised by Democrats over Republican Admins, 2 to 1. And while you were slopping hogs, I was just an hour drive north pulling down .35 cents an hour wetback wages. Share this post Link to post Share on other sites
NOTAGS Report post Posted January 26, 2017 "Cheap asz Employers." "The bonehead that said I sounded like Bernie" Nature Bob, is your last name Clinton? You too have called me names and categorized me. You sure you're not a Democrat? I guess now I am a " deplorable, angry white male, cheap asz Employers bonehead"? I really don't want to comment on your post or past, other than the name calling but, I know many who have had similar stories when the good times ended. If your business had survived the recession, I would bet that you would talking differently. I know many people that were and still are involved in new construction of housing. Its called financial strategy and planning Share this post Link to post Share on other sites
billrquimby Report post Posted January 27, 2017 The chart Edge provided is proof enough that government-mandated minimum wage increases are inflationary and provide only brief benefits for entry-level/bottom-tier workers. The minimum wage in America has never been a living wage, and never will be. Even if there were a Congress dominated by socialists/Marxists and a president named Bernie Sanders (God help us) and the minimum wage became $100.00 per hour (or $208,000 per year), the cost of living would rise and eventually put the poverty level above $208,000. ------ Bill Quimby 1 Share this post Link to post Share on other sites
mattys281 Report post Posted January 27, 2017 You guys should watch reagans inauguration speech from his first term. Its on youtube, although I believe it is incorrectly labeled as his first state of the union speech. I was watching them a couple weeks ago. Kind of spookie how much he said 30 years ago sounds real familiar today. I guess its true, those who dont know history are doomed to repeat it. Apparently about every 30 years, or roughly every generation. Share this post Link to post Share on other sites
DesertBull Report post Posted January 27, 2017 Free market principals are not just about prices its also about wages. You cant seperate them. If a guy wants to offer a $5/ HR for hard labor or skilled labor he will soon be out iof business because no one will do it. Likewise if he pays $15 per hour to wash dishes he will also be out of business. Wages, like prices, should be allowed to set their own levels influenced by supply and demand. The only real winner of min wage is govt. when prices rise, sales tax revenue rises also because its on a percentage of the sale. An item that was $1 and generated $0.08 sales tax now is $2.00 and generates $0.16 without an unpopular tax increase that causes lifetime politicians to lose elections. A win/win for the establishment. 4 Share this post Link to post Share on other sites
mattys281 Report post Posted January 27, 2017 Free market principals are not just about prices its also about wages. You cant seperate them. If a guy wants to offer a $5/ HR for hard labor or skilled labor he will soon be out iof business because no one will do it. Likewise if he pays $15 per hour to wash dishes he will also be out of business. Wages, like prices, should be allowed to set their own levels influenced by supply and demand. The only real winner of min wage is govt. when prices rise, sales tax revenue rises also because its on a percentage of the sale. An item that was $1 and generated $0.08 sales tax now is $2.00 and generates $0.16 without an unpopular tax increase that causes lifetime politicians to lose elections. A win/win for the establishment. Nailed it. The wage increase doesn't help much with income tax, since most of them won't pay a dime anyway, but it does also give a nice bump in FICA, medicare and SS withholding. The brilliant voters of Az just gave the fed a raise, not themselves. 2 Share this post Link to post Share on other sites
Snapshot Report post Posted January 27, 2017 I'm sure that the Workers comp insurance carriers are happy. The more a person makes, the more an employer has to pay into workers comp insurance. Share this post Link to post Share on other sites
GJMauro12 Report post Posted January 27, 2017 I'm sure that the Workers comp insurance carriers are happy. The more a person makes, the more an employer has to pay into workers comp insurance. Ugh thanks for the reminder! Share this post Link to post Share on other sites
Snapshot Report post Posted January 27, 2017 I'm sure that the Workers comp insurance carriers are happy. The more a person makes, the more an employer has to pay into workers comp insurance. Ugh thanks for the reminder! I know what you mean. I've paid tens of thousands into that blood sucking insurance program. Share this post Link to post Share on other sites
billrquimby Report post Posted January 27, 2017 Higher minimum wage legislation does not benefit government, because the inevitable inflation that results also affects the cost of government. For an example of inflation at its worst, look at pre-World War II Germany and 1990s Zimbabwe, where at its peak one million German marks and Zim dollars wouldn't buy a bottle of Coca-Cola. Bill Quimby Share this post Link to post Share on other sites
mattys281 Report post Posted January 27, 2017 Higher minimum wage legislation does not benefit government, because the inevitable inflation that results also affects the cost of government. For an example of inflation at its worst, look at pre-World War II Germany and 1990s Zimbabwe, where at its peak one million German marks and Zim dollars wouldn't buy a bottle of Coca-Cola. Bill Quimby Thats correct after the economy has stabilized and found a new normal level based on it, but inflation does not happen over night it takes time. There will be an immediate influx of larger amounts of cash, which nets a near term benefit. Share this post Link to post Share on other sites
naturebob Report post Posted January 27, 2017 Hey guys Been working lot last few days and not on the site. Didn't mean to bash people but I did. I should keep My mouth shut some times. Iv'e been told I'm intellegent but not Educated.,and I think its True.Just Bitter. Wasn't for a long time after I got my 2nd chance at 100k a year in the oil field. After they screwed me it started getting to me and I also was being private and not telling the rest of the story. My Wife of 35 years left Me too last Year. Said I spent all our$ on hunting. Goining out right now with a new Woman who luvs hunting and is 10 years Younger. Maybee in the end I will win. Sometimes it was hard to hang in there. Apolligies to all I offended . Happy Hunting. OH Never thought of blowing my brain out ,but close. All will be good .Stay away from fast food anyway......BOB! Share this post Link to post Share on other sites
Snapshot Report post Posted January 27, 2017 No worries Bob. We are just getting saltier with age. 1 Share this post Link to post Share on other sites
muledeerarea33? Report post Posted January 28, 2017 dang bob, I thought your wife was coming down to be with you. Sorry to hear. There's a guy or two one here that the same things happened (or similar) and they both turned out better for it. I won't tell they're business but maybe they'll come forward or pm you. Either way, glad your doin ok. No matter if your a huge lefty or not hahaha!! Your still a good guy. 1 Share this post Link to post Share on other sites
mattys281 Report post Posted January 28, 2017 dang bob, I thought your wife was coming down to be with you. Sorry to hear. There's a guy or two one here that the same things happened (or similar) and they both turned out better for it. I won't tell they're business but maybe they'll come forward or pm you. Either way, glad your doin ok. No matter if your a huge lefty or not hahaha!! Your still a good guy. Add another one to that list. My ex lied, cheated, was financially wreckless to the point of being criminal, bankrupted me and treated me like a cash pinata. Dont know how I made it through that stuff without digging a hole for her, but I did. And 10 years after the divorce was finalized, I have a beautiful younger wife, a couple of gorgeous babies with the new wife and a career and financial level I honestly never thought I would see. And best of all, shes dead broke, lost her house and has nothing at all to her name. Sometimes karma drags its feet, but when it hits 'em it hits 'em hard! Bob: hang in there, stay strong and keep working and employ the wisdom and lessons youve acquired through the hard times. "Think like a man of action - act like a man of thought" 3 Share this post Link to post Share on other sites
