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Reply to "Help me understand the impact of a $15 minimum wage? "
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[quote=Anonymous]1968 min wage = 1.60 equivalent to 11.98 today, so start there. In fact, the minimum wage has pretty much been declining in real dollars since then. From 1955 to 1967 it was less than 11.98 in today's dollars, but still above $10. As income inequality has risen, the resistance to minimum wage increases seems to rise as well. Small employers (like my mom, when she owned a cafe in a small rural town in the 1980s and $300 take was a good day) have the hardest time paying that (her state required tipped employees to be paid minimum wage, but she paid it). But . . . dollar stores? (DS does networking setup for one of the major dollar store chains as a subcontractor, and 2020 was his best year yet, but he gets a minimum $85/hr plus a hefty charge for travel. The employees? Not so much)[/quote]
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