If wages had risen as fast as profits over the past fifty years, almost everyone would retire at sixty two in financial comfort.

But we didn't make that the law. We don't protect labor or ourselves using our democracy.
So be it. Shorter lives.

This page is a permanent link to the reply below and its nested replies. See all post replies »

beckyromero · 36-40, F

If just the minimum wage had kept up to inflation as what it was when Nixon became president, overall wages would have risen as well.

Roundandroundwego · 61-69

@beckyromero why didn't government make that the law?

beckyromero · 36-40, F

@Roundandroundwego

why didn't government make that the law?

Reagan never signed legislation to raise the minimum wage.

Obama never signed legislation to raise the minimum wage, either; he was too focused on the ACA as a legacy project and then the GOP grabbed control of Congress in 2010 so that was that.

Trump of course hasn't. And Machin and Sinema blocked it in the Senate when Biden was president.

George W. Bush was the last president to sign legislation to raise the minimum wage (which took effect in early 2009 after he was out of office).

hippyjoe1955 · 70-79, M

@beckyromero The problem is the increasing the minimum wage doesn't help the minimum wage earner and may well make it much harder on said worker. Here the wages jumped from 10 - 15 dollars per hour. Net effect was the minimum wage jobs all disappeared and the kids who were taking those jobs as entry level job experience suddenly had no such jobs to go to. The other thing it did was a drive up the consumer price on everything to cover the increased wage costs. The hamburger than once cost 7.50 suddenly became 10 and so the minimum wage earner was both out of a job and everyone else was forced to cut expenses thus drying up even more jobs.

Roundandroundwego · 61-69

@hippyjoe1955 I was talking about the wages keeping pace with the profits. And what retirement would look like for us now if they had. Away together into another topic and obviously never responded to my question, why wasn't it the law that wages rose as fast as profits? Or GDP? Why was that so hard for Americans to understand? We don't expect you to acknowledge me. Talk among yourselves, only!

Roundandroundwego · 61-69

@beckyromero you changed the subject. Fine. Whatever.

beckyromero · 36-40, F

@Roundandroundwego

I don't see much of a disagreement. You read a lot of my post so you should know that...

I'm for raising the top tax rate AND the corporate tax rate ... in addition to raising both the poverty level AND the minimum wage.

beckyromero · 36-40, F

@hippyjoe1955

Canadian provincial minimum wages are higher than those in the U.S. - even AFTER adjusting for the exchange rate.

Same, too, for your equivalent of the poverty line.

And you have a safety net for health care.