Tim Conway Jr. VS Dave in San Fran (caller)
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Historical minimum-wage data and graphs here: oregonstate. edu/instruct/anth484/minwage. html
hitssquad 1 month ago
5:27 [caller] "The ounce of gold in 1968 was $35 an ounce"
The price of gold was $35/oz in 1968 because it was controlled. The free-market price of gold might have been about 10x that. The real minimum wage happened to peak in 1968. Why would you take the peak minimum wage, and then say that same wage should obtain today?
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It's true that it was $1.60 in 1968. The inflation calculators say that works out to about $10.55 today -- except that $10.55 buys far more today that $1.60 did in 1968.
hitssquad 1 month ago