ajwagner421 Wrote:
Jul 19, 2012 8:57 AM
Something I find interesting, John Stossel was born in 1947. So say he started working when he was 18, so 1965. Minimum wage was $1.25 (nominal). Adjusted for inflation that would be $7.52 (2009$). So 25 cents an hour more than we have now. But now in 2012 we don't have first jobs anymore because of the minimum wage which, when adjusted for inflation, is almost exactly the same as when he most likely found his first job.