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40% Of US Workers Now Earn Less Than 1968 Minimum Wage

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posted on Jun, 6 2015 @ 10:16 PM
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Back in 1968, the minimum wage in the United States was $1.60 an hour. That sounds very small, but after you account for inflation a very different picture emerges. Using the inflation calculator that the Bureau of Labor Statistics provides, $1.60 in 1968 is equivalent to $10.74 today.


Wait... so 40% of workers make less than $10.74, holy crap.



That isn't a lot of money, but according to the Social Security Administration, 40.28% of all workers make less than $20,000 a year in America today.


What a joke... this place is a joke.

I'm honestly not surprised. But who cares right these people are just lazy and can't climb the corporate ladder or create their own companies.

But what happened to all the good jobs you ask.... well... global integration and automation have taken over!



First of all, thanks to our very foolish politicians American workers have been merged into a global labor pool where they must directly compete for jobs with workers on the other side of the planet that live in countries where it is legal to pay slave labor wages.




Secondly, big corporations are replacing as many expensive workers with machines, computers and robots as they possibly can. As technology continues to advance at a blistering pace, the need for workers (especially low-skilled workers) will continue to decrease.


Guess I've been right about that one!
edit on 6/6/2015 by onequestion because: (no reason given)




posted on Jun, 6 2015 @ 10:23 PM
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What we really need to do is to return to the principles that once made this country great. In early America, we protected our markets with high tariffs. Access to the U.S. market was a privilege. Foreign domination was kept out, and our economy thrived.


Just thought I would throw this in the mix for someone to comment on later.



Another thing we could do to turn this around would be to get rid of the IRS and the income tax. Did you know that the greatest period of economic growth in U.S. history was during a time when there was absolutely no income tax? If you doubt this, just read this article.

edit on 6/6/2015 by onequestion because: (no reason given)


+8 more 
posted on Jun, 6 2015 @ 10:24 PM
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a reply to: onequestion

I'll wager that 15 years ago, the figures would be identical.

Why is it an issue now?

Because the only jobs left are minimum wage jobs. High paying jobs don't exist anymore. companies are burdened by higher taxes, Obamacare, union demands so they down size or go overseas.

This is the new normal for America. Might as well get used to it.



posted on Jun, 6 2015 @ 10:26 PM
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a reply to: beezzer

Can't really disagree there.

Its better late than never.

I was going to antagonize you a little just for fun but i decided against it!
edit on 6/6/2015 by onequestion because: (no reason given)



posted on Jun, 6 2015 @ 10:43 PM
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The same is happening here in Australia. Real incomes are dropping and people are struggling. Jobs are disappearing too. meanwhile the corporates continue to make record profits and pay very little company tax and our Government does nothing about this disparity. I do not like the look of things to come for the masses.



posted on Jun, 6 2015 @ 10:45 PM
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a reply to: grmorrow

I dont like the things to come for those in power.



posted on Jun, 6 2015 @ 10:47 PM
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originally posted by: onequestion
a reply to: beezzer

Can't really disagree there.

Its better late than never.

I was going to antagonize you a little just for fun but i decided against it!


Just being straight up here.

It's easy to blame business and corporations, but think about it.

All businesses and corporations aren't greedy, corrupt bastions of evil.



posted on Jun, 6 2015 @ 10:48 PM
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Back then you could buy a house free and clear at minimum wage pay
edit on 6-6-2015 by dashen because: (no reason given)



posted on Jun, 6 2015 @ 10:51 PM
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a reply to: beezzer




It's easy to blame business and corporations, but think about it.

All businesses and corporations aren't greedy, corrupt bastions of evil.



Just to be clear...

Do you have more specific corporations or powers in mind



posted on Jun, 6 2015 @ 10:54 PM
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a reply to: onequestion

Just speaking generally.



posted on Jun, 6 2015 @ 10:55 PM
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a reply to: onequestion

Do you know why the year 1968 was chosen?


edit on 6/6/15 by Chadwickus because: (no reason given)



posted on Jun, 6 2015 @ 11:01 PM
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a reply to: Chadwickus

Let me take a stab at it...

Because in 1970 the minimum wage went up



posted on Jun, 6 2015 @ 11:07 PM
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a reply to: onequestion

No, 1968 was the peak for minimum wages, that's why they chose that year, to exaggerate their figures.

As of 2014 the average minimum wage for the US is $7.25, 1968 was $8.58 on properly adjusted figures..


Also, the number of minimum wage earners in 2014 is 3 million people or 2.3% of all wage earners, and nearly half of that 3 million are aged between 16 and 24. This is hugely different to what zerohedge says at 40%.


www.pewresearch.org...




edit on 6/6/15 by Chadwickus because: (no reason given)



posted on Jun, 6 2015 @ 11:07 PM
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Direct result of corrupt American politics and politicians, Democrat AND Republican.How about mandatory term limits for all?

How about since our federal politicians are paid for life, no outside wage , salary, or gift can EVER be accepted.

That'll clear out all the corrupt billionaires and maybe we can actually get a PUBLIC servant in some of these offices.

What happened to Obama's promise to throw out all the lobbyists?



posted on Jun, 6 2015 @ 11:10 PM
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When cannibalism becomes a necessary survival tactic, I have a hunch which strata of society is going to be first on the grill.



posted on Jun, 6 2015 @ 11:10 PM
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a reply to: Chadwickus

To exaggerate the figures>

Well... to be fair it would seem like the wages were consistently getting better up until that point at which they began getting worse.

I think that paints an accurate picture of the decline of the American economy.

This is when Americans had the most purchasing power.



posted on Jun, 6 2015 @ 11:13 PM
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a reply to: Chadwickus

True, but from 1956 to 1981 minimum wage was over $8.00 an hour in real money.

Real Minimum Wage Facts

What was the difference in tax though? Huge.



posted on Jun, 6 2015 @ 11:14 PM
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a reply to: Chadwickus

Are you measuring wages as in purchasing power, what metrics are you using



posted on Jun, 6 2015 @ 11:21 PM
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a reply to: onequestion

There are different CPI's, the one used for employment is CPI-U



posted on Jun, 6 2015 @ 11:23 PM
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a reply to: Chadwickus

Well hate to break it to you but if you look at these numbers through the lens of purchasing power and not the numbers the government is giving you then you get a better perspective of whats going on.

Let me tell you that they were being conservative with their numbers.

The actual rate of inflation measured against cost of living and what the actual cost of things were back then is literally 10x.

Check it out...




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