If $1 then is now equivalent to $21.77, then that $0.25 minimum wage then would today only be $5.44 (25% of $21.77). $7.25 represents 133% more purchasing power.
The minimum wage in 1938 was worth about $5.44 in today’s money. The peak minimum wage adjusted for inflation was in 1968 which would have been worth $13.46 in today’s money
Their math is correct. What is wrong is that prices increases have little to do with inflation. IMO inflation is happening because of the rabid greedy capitalism. Prices are moving only in upward direction.
If $1 then is now equivalent to $21.77, then that $0.25 minimum wage then would today only be $5.44 (25% of $21.77). $7.25 represents 133% more purchasing power.
The fuck kinda dollar store math are you doing?
He is actually correct. The math does check out.
The minimum wage in 1938 was worth about $5.44 in today’s money. The peak minimum wage adjusted for inflation was in 1968 which would have been worth $13.46 in today’s money
https://en.m.wikipedia.org/wiki/Minimum_wage_in_the_United_States
The math checks out what are you looking at?
Their math is correct. What is wrong is that prices increases have little to do with inflation. IMO inflation is happening because of the rabid greedy capitalism. Prices are moving only in upward direction.
97¢ store, you did the math wrong