PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: sea_biscuit who wrote (36861)	9/14/2000 7:14:09 PM
From: flatsville	Read Replies (2) of 769667

Re: Minimum Wage-- The figure also shows the 30% decline in the minimum wage over the 1980s, when Congress failed to adjust the wage floor for nine years. Even with the recent increases in the 1990s, the inflation- adjusted minimum was 21% lower in 1999 than in 1979. epinet.org See Figure 1 (a picture is worth a thousand words.) >>>Figure 1 shows the inflation-adjusted minimum wage from 1955 to 1999, in 1999 dollars. Since the minimum wage is not indexed (e.g., to inflation or to some measure of wage growth), when Congress fails to increase its value, it declines in real terms. Thus, each uptick in the figure's graph represents a mandated increase, while the downward trends represent periods when the real value was eroded by inflation. The minimum wage peaked in 1968, when it stood at $7.07 in 1999 dollars.[3] The figure also shows the 30% decline in the minimum wage over the 1980s, when Congress failed to adjust the wage floor for nine years. Even with the recent increases in the 1990s, the inflation- adjusted minimum was 21% lower in 1999 than in 1979.<<<

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