JimBowie1958
Old Fogey
- Sep 25, 2011
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Minimum wage in 1960 was $1.25. The silver content of that amount then was .875 ounces which is about $12 today.
If people were still being paid in a commodity based currency, there would be no problem with the minimum wage keeping pace with the Federal Reserves created inflation over the years and no need to hike minimum wage after all.
If we were paid in an actual medium that has intrinsic value, then we wouldnt have to worry about artificially setting wage scales to begin with.
If people were still being paid in a commodity based currency, there would be no problem with the minimum wage keeping pace with the Federal Reserves created inflation over the years and no need to hike minimum wage after all.
If we were paid in an actual medium that has intrinsic value, then we wouldnt have to worry about artificially setting wage scales to begin with.