I think the most important context is minimum wage.
In 1982 a full-time job making $3.35 an hour is pulling in approx $6,700 a year. Or 14% of the price of a house.
In 2022, that same worker, working the same number of hours at minimum wage $7.25 an hour is bringing in $14,500 a year. Or 3.5% the price of a house.
The same for groceries. THAT is the fucked up part. It’s what happens when people seem OK with 50 trillion dollars going from the bottom 90% to the top 1% over the past several decades.
I think the most important context is minimum wage.
In 1982 a full-time job making $3.35 an hour is pulling in approx $6,700 a year. Or 14% of the price of a house.
In 2022, that same worker, working the same number of hours at minimum wage $7.25 an hour is bringing in $14,500 a year. Or 3.5% the price of a house.
The same for groceries. THAT is the fucked up part. It’s what happens when people seem OK with 50 trillion dollars going from the bottom 90% to the top 1% over the past several decades.
I mean, that minimum wage should be higher though.
At the same time, if you doubled it, it would still be half as much of a percentage of a house.
No matter which way we slice this up, were fuckkkkkkked
Yeah minimum wage should be quadrupled at the least. But I think the US should have a 50 dollar minimum wage.
50? Wow.
That’s more than I make. I mean, I’m not opposed to the idea, but it would be an excuse from every capitalist out there to go crazy with inflation.
We’d probably end up worse off on the end but I wouldn’t mind as much because my house is already mortgaged.