The truth about minimum wage.

[barfbag]

http://www.politifact.com/truth-o-meter/statements/2013/jul/31/barack-obama/barack-obama-says-minimum-wage-pays-less-now-when-/

You guys be the judges.

[Franzl]

What point are you attempting to make here?

[Redalgo]

You have to adjust for inflation or the dollar amounts are useless for comparison over such long stretches of time. A dollar of income today has much less buying power than it used to.

[barfbag]

What point are you attempting to make here?

I want us to have a discussion based on the information provided in the article.

[Cory]

You have to adjust for inflation or the dollar amounts are useless for comparison over such long stretches of time. A dollar of income today has much less buying power than it used to.

/thread

[Franzl]

What point are you attempting to make here?

I want us to have a discussion based on the information provided in the article.

So, ummmm...what is there to discuss?

[Indy Texas]

It really says something when you've got Republicans saying 90% of Planned Parenthood's budget goes to abortions and that Obama is a secret Muslim Brotherhood supporter, and when barfbag tries to call out a Democrat out of a sense of "well both sides do it!" he picks something that's rated "Mostly True" from Politifact.

[Grumpier Than Thou]

You have to adjust for inflation or the dollar amounts are useless for comparison over such long stretches of time. A dollar of income today has much less buying power than it used to.

/thread

Yup. This.

[angus]

yes, the minimum wage now ($7.25) is less, when adjusted for inflation, than it was when Reagan took office.  At that time it was $3.35, which would be about $8.61 in today's dollars.  It is also less than the average over the time in his office ($7.36).

There are two questions asked in the article you link "Is Obama right on the statistics? And is Obama’s attempt to link Reagan to a policy of maintaining a generous minimum wage an accurate historical portrayal?"

The answer to the first is yes.  Unless you want to take issue with the inflation calculator, also linked in the article, you have to conclude that it is correct.  The answer to the second is unclear to me.  It isn't a very well worded question.  Is it accurate to "link Reagan" to anything?  Sure, why not?  During Reagan's tenure, the federal minimum wage did not increase.  I don't think Obama has said otherwise, so I can't fault the accuracy of his statement.  Anyway, it's a political posture, and to the extent that it supports his case, then it's a wise one.  Perceptions are the main goal when posturing for political gain, after all.

[barfbag]

yes, the minimum wage now ($7.25) is less, when adjusted for inflation, than it was when Reagan took office.  At that time it was $3.35, which would be about $8.61 in today's dollars.  It is also less than the average over the time in his office ($7.36).

There are two questions asked in the article you link "Is Obama right on the statistics? And is Obama’s attempt to link Reagan to a policy of maintaining a generous minimum wage an accurate historical portrayal?"

The answer to the first is yes.  Unless you want to take issue with the inflation calculator, also linked in the article, you have to conclude that it is correct.  The answer to the second is unclear to me.  It isn't a very well worded question.  Is it accurate to "link Reagan" to anything?  Sure, why not?  During Reagan's tenure, the federal minimum wage did not increase.  I don't think Obama has said otherwise, so I can't fault the accuracy of his statement.  Anyway, it's a political posture, and to the extent that it supports his case, then it's a wise one.  Perceptions are the main goal when posturing for political gain, after all.

Well that's terrible if he had to jump in the gray area just to confuse and rally a crowd instead of state exact numbers for the people to make up their own mind.

[Franzl]

I'm not surprised that it confused you, but you shouldn't assume that everyone has such difficulty understanding what inflation is.

[barfbag]

I'm not surprised that it confused you, but you shouldn't assume that everyone has such difficulty understanding what inflation is.

All that I assume is that Obama was being a slick politician. So much for change.

[Amenhotep Bakari-Sellers]

I see the minimum wage jobs as stepping stones. But the problem is CEO's are cutting out raises and things like sick pay and vacation pay. They are using either temps or part time workers, no permanent employees to fill job void.

[barfbag]

I see the minimum wage jobs as stepping stones. But the problem is CEO's are cutting out raises and things like sick pay and vacation pay. They are using either temps or part time workers, no permanent employees to fill job void.

Which is smart for saving money.

[memphis]

I see the minimum wage jobs as stepping stones.

And for a majority of people they are. One gets a job at Target or wherever in high school and, hopefully, moves on up. But an enormous number of folks don't. We have a large underclass who, due to lack of skills, initiative, connections, whatever, perpetually make either minimum wage or slightly less. These folks aren't going away, and they are absolutely vital to our economy. Groceries, hotels, gas stations, restaurants, etc could not function without them. By definition, not everybody can be manager. Some people must be managed.

[barfbag]

I see the minimum wage jobs as stepping stones.

And for a majority of people they are. One gets a job at Target or wherever in high school and, hopefully, moves on up. But an enormous number of folks don't. We have a large underclass who, due to lack of skills, initiative, connections, whatever, perpetually make either minimum wage or slightly less. These folks aren't going away, and they are absolutely vital to our economy. Groceries, hotels, gas stations, restaurants, etc could not function without them. By definition, not everybody can be manager. Some people must be managed.

Very true and well said.