Sunday, February 3, 2008

Red shifting minimum wage?

Does the concept of "red shift" suggest itself?

Ike's 1956 minimum wage: $7.93/hr ($1.00/hr adjusted)
at 40% of today's average income.

LBJ's 1968 minimum wage: $9.91/hr ($1.60/hr adjusted
at 50% of today's average income.
Nixon's 1974 minimum wage: $8.75/hr ($2.00/hr adjusted)
at 60% of today's average income.



G.H.W.'s 1981 minimum wage: $6.72 ($4.25/hr adjusted)
at 70% of today's average income.
Bill's 1997 minimum wage: $6.92/hr ($5.15/hr adjusted)
at 90% of today's average income.
Dem's 2009 minimum raise: $7.00/hr? ($7.25/hr adjusted)
at 103% of today's average income?


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