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May
31

Ideologues hate facts

This is one of those facts.

In 40 years of unparalleled wealth and income creation, the U.S. minimum wage has declined by roughly a third in real terms. "Official" measures of inflation have been gamed and massaged for decades to artificially lower the rate, for a variety of reasons: to mask the destructiveness to purchasing power of Federal Reserve policy, to lower the annual cost-of-living increases to Social Security recipients, and to generally make inept politicians look more competent than reality would allow.

Embedded Link

charles hugh smith-Income Disparity Solution: Return the Minimum Wage to 1969 Levels
The weblog, wEssays, feature articles and
works of fiction of Charles Hugh Smith

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