When I began working, I earned $3.10 an hour. It was 1980
and I was just happy to have spending money. In 1981, the minimum wage was
raised to $3.35 an hour and it stayed there until 1990 when President Bush
raised the minimum wage to $3.80 an hour.
The minimum wage has always been used as a political football. The minimum wage was first instituted by FDR. It was not set to rise with inflation on purpose, requiring congressional action to be changed. Interesting… a Democrat set the federal minimum wage at $0.25 per hour regardless of the rate of inflation. In 1939, FDR raised the rate to $0.30
FDR, a Democrat, initiated the minimum wage and raised it once in seven years (initiated in 1938 and served until 1945 when he died in office). Truman, also a Democrat, raised the minimum wage twice in eight years.
Eisenhower, a Republican, only raised the minimum wage once in eight years. Kennedy, a Democrat, raised the minimum wage twice in a shortened term of three years. Johnson, a Democrat, raised the minimum wage twice in six years and only towards the last two years of his second term.
Nixon, a Republican, only raised the minimum wage once in his scandal shortened second term. Ford, a Republican, who only served three years, raised the minimum wage twice. Carter, a Democrat, raised the minimum wage every year of his presidency as he had to deal with some of the highest inflation rates in history.
Reagan, a Republican, interestingly, never raised the minimum wage. Reagan’s genius was in cutting taxes, which had a more favorable impact on workers and businesses than raising the minimum wage. Bust 41, a Republican, raised the minimum wage twice in his single term. He made the mistake of say “Read my lips. No… New… Taxes” words he came to eat as the Democrats trapped him into raising taxes.
Clinton, a Democrat, raised the minimum wage twice in his two terms with one of those increases happening in an election year. Bush 43, a Republican, raised the minimum wage twice in his two terms, both times towards the end of his presidency as the housing bubble was about to pop. Interestingly, Obama only addressed the minimum wage issue once in eight years.
In seven Democrat administrations, the minimum wage was raised fourteen times. In five Republican administrations, the minimum wage was raised eight times. Considering the numbers, I wonder if looking at them that way truly tells the story. I always say, know what you measure and measure what you know. If I had to venture a guess, I would say that the minimum wage is nothing more than a political football.
An interesting history to say the least, but if politicians were really serious about the doing something that would show how important a minimum wage is, I believe they need to think differently about how to address the needs of lower income workers.
I submit to you, the reader, and to every state and federal politician, my plan for helping the lower income earning. Instead of forcing employers to pay $15 per hour for entry level jobs, which has been proven to impact the small business owners the hardest, why not change the federal and state tax codes to ensure every working person gets to keep the wages he or she earns up to what would be considered a living wage? Think about that.
The prevailing philosophy concerning what constitutes a living wage is clearly focused on $15 an hour. Then why does the federal government and every state that has an income tax, stop taxing income until it surpasses the equivalent of the sum of the living wage?
At $15 an hour, a full-time employee working 40 hours a week would make $31,200 annually. So, my living wage plan is simple. Don’t tax incomes until after the income exceeds $31,200. I mean if politicians are serious about helping low income earnings, why should they tax any income under the amount of the living wage?
Politicians are not serious about meeting the needs of the lower income workers. They use the minimum wage as a political issue, that somehow their benevolence in raising the minimum wage addresses the needs of the lower income worker. Imagine if those making $31,200 could keep $31,200. How many people could live on $31,200 a year?
Those with incomes greater than $100,000 annually pay 80.6% of all federal taxes. Those earning less than $30,000 annually pay 1.4% of the federal taxes. While those in what is considered middle class paying 18.1% of all federal taxes. If those who are making the least pay the lowest percentage of federal taxes, then the impact of changing the tax policy (at least on the federal level) to make the first $31,200 absolutely, unequivocally tax free, would not cause huge federal budget problem.
I don’t know, maybe doing this takes away the power of the political conversation that can be used as a differentiator between Republicans and Democrats. I don’t get the feeling that either party really cares about the worker. What they really care about is the worker’s vote, because your income does not equal a vote unless the politicians can make you believe that they really care about how much you make.
The minimum wage has always been used as a political football. The minimum wage was first instituted by FDR. It was not set to rise with inflation on purpose, requiring congressional action to be changed. Interesting… a Democrat set the federal minimum wage at $0.25 per hour regardless of the rate of inflation. In 1939, FDR raised the rate to $0.30
FDR, a Democrat, initiated the minimum wage and raised it once in seven years (initiated in 1938 and served until 1945 when he died in office). Truman, also a Democrat, raised the minimum wage twice in eight years.
Eisenhower, a Republican, only raised the minimum wage once in eight years. Kennedy, a Democrat, raised the minimum wage twice in a shortened term of three years. Johnson, a Democrat, raised the minimum wage twice in six years and only towards the last two years of his second term.
Nixon, a Republican, only raised the minimum wage once in his scandal shortened second term. Ford, a Republican, who only served three years, raised the minimum wage twice. Carter, a Democrat, raised the minimum wage every year of his presidency as he had to deal with some of the highest inflation rates in history.
Reagan, a Republican, interestingly, never raised the minimum wage. Reagan’s genius was in cutting taxes, which had a more favorable impact on workers and businesses than raising the minimum wage. Bust 41, a Republican, raised the minimum wage twice in his single term. He made the mistake of say “Read my lips. No… New… Taxes” words he came to eat as the Democrats trapped him into raising taxes.
Clinton, a Democrat, raised the minimum wage twice in his two terms with one of those increases happening in an election year. Bush 43, a Republican, raised the minimum wage twice in his two terms, both times towards the end of his presidency as the housing bubble was about to pop. Interestingly, Obama only addressed the minimum wage issue once in eight years.
In seven Democrat administrations, the minimum wage was raised fourteen times. In five Republican administrations, the minimum wage was raised eight times. Considering the numbers, I wonder if looking at them that way truly tells the story. I always say, know what you measure and measure what you know. If I had to venture a guess, I would say that the minimum wage is nothing more than a political football.
An interesting history to say the least, but if politicians were really serious about the doing something that would show how important a minimum wage is, I believe they need to think differently about how to address the needs of lower income workers.
I submit to you, the reader, and to every state and federal politician, my plan for helping the lower income earning. Instead of forcing employers to pay $15 per hour for entry level jobs, which has been proven to impact the small business owners the hardest, why not change the federal and state tax codes to ensure every working person gets to keep the wages he or she earns up to what would be considered a living wage? Think about that.
The prevailing philosophy concerning what constitutes a living wage is clearly focused on $15 an hour. Then why does the federal government and every state that has an income tax, stop taxing income until it surpasses the equivalent of the sum of the living wage?
At $15 an hour, a full-time employee working 40 hours a week would make $31,200 annually. So, my living wage plan is simple. Don’t tax incomes until after the income exceeds $31,200. I mean if politicians are serious about helping low income earnings, why should they tax any income under the amount of the living wage?
Politicians are not serious about meeting the needs of the lower income workers. They use the minimum wage as a political issue, that somehow their benevolence in raising the minimum wage addresses the needs of the lower income worker. Imagine if those making $31,200 could keep $31,200. How many people could live on $31,200 a year?
Those with incomes greater than $100,000 annually pay 80.6% of all federal taxes. Those earning less than $30,000 annually pay 1.4% of the federal taxes. While those in what is considered middle class paying 18.1% of all federal taxes. If those who are making the least pay the lowest percentage of federal taxes, then the impact of changing the tax policy (at least on the federal level) to make the first $31,200 absolutely, unequivocally tax free, would not cause huge federal budget problem.
I don’t know, maybe doing this takes away the power of the political conversation that can be used as a differentiator between Republicans and Democrats. I don’t get the feeling that either party really cares about the worker. What they really care about is the worker’s vote, because your income does not equal a vote unless the politicians can make you believe that they really care about how much you make.
