Here’s What the US Minimum Wage Was the Year You Were Born

[libertybele]

Just for fun (or to show how far we've sunk into the abyss)

Here’s What the US Minimum Wage Was the Year You Were Born (slide video @ link)

https://www.msn.com/en-us/money/markets/here-s-what-the-us-minimum-wage-was-the-year-you-were-born/ss-AA1oBdVJ?ocid=hpmsn&cvid=18011e77a01c4eb7a295e4e774f122cc&ei=4

[Cyber Liberty]

A buck an hour.....

[Hoodat]

Why do we have a minimum wage?

[Bigun]

$.40 for me. And I agree with @Hoodat

[Hoodat]

In 1937, we had no minimum wage law.  Unemployment was at 14.3%.  The following year, the federal government implemented a national minimum wage law.  Unemployment shot up to 19%.  For those who lost their jobs, their wage became $0/hr overnight.

[roamer_1]

Why do we have a minimum wage?

It is heresy in a capitalist system. The voluntary agreement forming a contract should have no regulation.

[libertybele]

$1.00/hr.  Interestingly at my first job, which was at a Jack In the Box I wasn't paid minimum wage...I didn't even have a car and had to walk.  Such is life, right?

[Kamaji]

It is heresy in a capitalist system. The voluntary agreement forming a contract should have no regulation.

Nonsense. 

[roamer_1]

Nonsense.

Not nonsense. One of the most dire times in my life, when I was all the way down and out, I worked from harvest through the winter for a couple hundred bucks a month and found.

The widow who did right by me during that time could barely afford that, but desperately needed the help, and I needed to get back on my feet.

We parted in the late spring, me with a stake and much gratefulness.

Uncle Nanny would have prevented our agreement. But for me, and for her, it was what both of us needed.

[Kamaji]

Not nonsense. One of the most dire times in my life, when I was all the way down and out, I worked from harvest through the winter for a couple hundred bucks a month and found.

The widow who did right by me during that time could barely afford that, but desperately needed the help, and I needed to get back on my feet.

We parted in the late spring, me with a stake and much gratefulness.

Uncle Nanny would have prevented our agreement. But for me, and for her, it was what both of us needed.

It is nonsense.  Laissez faire was a disaster, except for the robber barons.

[roamer_1]

It is nonsense.  Laissez faire was a disaster, except for the robber barons.

In fact it is no different now - the robber barons still exist.
All it does is remove jobs from those at the very bottom. I would employ someone tomorrow to mow my yard and square up the place - but not at the price of a professional service, nor at the cost of hiring domestic help, to include all the insurances that go with that.

So some poor bastard, down on his luck, will go without, and the work will be left wanting.

[Bigun]

It is nonsense.  Laissez faire was a disaster, except for the robber barons.

Laissez faire has actually never been tried.

What people who want a government run economy call the Laissez-farie period was actually a period of crony-capitalism of a level similar to today.

The heaviest government subsidy was the use of the US military to protect business interests from Natives, previous settlers to areas, and Spain/Mexico. There were also heavily subsidized railroads. The Homestead Act gave subsidy to millions of immigrants in a government attempt to stimulate economic production.

[Smokin Joe]

It is nonsense.  Laissez faire was a disaster, except for the robber barons.

Central government micromanagement has worked so well...NOT!

[Cyber Liberty]

The true minimum wage is $0.00 per hour.  The more the MW is bumped up by the government, the more people find this out the hard way.

[Smokin Joe]

Irrelevant. I didn't enter the official workforce (working for wages) until I was 14. I never worked for Minimum wage. It meant taking harder, dirtier jobs with fewer benefits and ridiculous hours, but I was anywhere from 1.5X to 3.5X that before I ended up on day rate w/per diem in the '70s, and have usually been either in that pay setup or working jobs where the wages were a base rate, and there was more if you applied yourself, which I did.

[Kamaji]

In fact it is no different now - the robber barons still exist.
All it does is remove jobs from those at the very bottom. I would employ someone tomorrow to mow my yard and square up the place - but not at the price of a professional service, nor at the cost of hiring domestic help, to include all the insurances that go with that.

So some poor bastard, down on his luck, will go without, and the work will be left wanting.

It may remove a few jobs at the very bottom, but it also removes a lot of the asymmetry at the bottom and establishes a set of brightline rules that make transacting more efficient, not less.

[roamer_1]

It may remove a few jobs at the very bottom, but it also removes a lot of the asymmetry at the bottom and establishes a set of brightline rules that make transacting more efficient, not less.

The bottom is supposed to be asymmetric. It's desperate. Removing asymmetry is removing opportunity...

And the same goes, by the way, for startup businesses that are levered out of labor because of the insane costs in hiring and initial hiring. The cost of entry into the market is colored by the minimum wage, even in more typical environments (like construction).

Many, many job makers do without, and that trend is damning.

[roamer_1]

IF I get back on my feet, and I can take another swing, I can guarantee it will be something I can do by myself. I will never hire another employee again.

[Hoodat]

It is nonsense.  Laissez faire was a disaster, except for the robber barons.

Who says I have to deal with a robber baron?  I can deal with whomever I want for whatever I can get.  That's 'laissez faire'.  The only thing keeping us from double-digit growth rates right now is government.

[Hoodat]

This is what the minimum wage does.  It creates an artificial floor that is above the point of equilibrium resulting in unskilled workers unable to find a job.

[the OlLine Rebel]

Why do we have a minimum wage?

To make all the cry-baby lazy bums feel better.

More money, less work.  That is the communist motto.

BTW, get rid of this (price control) minimum wage and the illegal alien problem goes away too.

[Smokin Joe]

To make all the cry-baby lazy bums feel better.

More money, less work.  That is the communist motto.

BTW, get rid of this (price control) minimum wage and the illegal alien problem goes away too.

The real crybaby lazy bums get low level government jobs with stupendous benefits and job security.

[Bigun]

The only way to fix the Marxist income tax system is to get rid of it and go back to the kind of taxes universally endorsed by our founders. Taxes on articles of consumption only.

https://fairtax.org/

[LMAO]

Countries like Sweden, Iceland, Switzerland, and a few other countries that the leftist insist  that we need to become like,  do not have a federally mandated minimum wage. Yet, they’re not wallowing in poverty

[MeganC]

Why do we have a minimum wage?

To oppress black people. That's why it was created in the first place.

https://medium.com/the-enclave-of-others/the-racist-history-of-minimum-wage-5dd71ebf0770