It seems there is a lot of controversy over raising the minimum wage to at least $15 an hour. But, can anyone argue against raising it to the equivalence of the 1970 minimum wage?
Those were the days. Back then it wasn’t a Dollar Store, it was a dime store. Gas was 36 cents a gallon, (today that same gallon costs $3.50), you could buy a Big Mac for .45 cents ($4.62 in 2014) and the average rent for a two-bedroom apartment was $108 a month. (Try $1,190 for a probably smaller apartment nowadays). And the minimum wage was $1.69 an hour. It’s not too hard to do the math on this one. Everything today is 10 times higher, except minimum wage; 10 X $1.69 = $16.90. To be able to live at least as good as minimum wagers lived in 1970 you’d have to be earning $16.90 an hour.
I think we value people who work today as well as we did in any other era. So let’s show them by paying a minimum wage.