not_IO@lemmy.blahaj.zone to Political Memes@lemmy.worldEnglish · edit-27 hours agoinsane if truelemmy.blahaj.zoneimagemessage-square36linkfedilinkarrow-up1519arrow-down117file-text
arrow-up1502arrow-down1imageinsane if truelemmy.blahaj.zonenot_IO@lemmy.blahaj.zone to Political Memes@lemmy.worldEnglish · edit-27 hours agomessage-square36linkfedilinkfile-text
minus-squarecygnus@lemmy.calinkfedilinkarrow-up2arrow-down5·8 hours agoIt isn’t. Not even close. This says $12 https://www.epi.org/blog/the-value-of-the-federal-minimum-wage-is-at-its-lowest-point-in-66-years/
minus-squareknightly the Sneptaur@pawb.sociallinkfedilinkarrow-up15arrow-down1·8 hours agoThat’s just straight inflation, the meme is talking about housing inflation, which has been higher than monetary inflation.
minus-squarepyre@lemmy.worldlinkfedilinkarrow-up6·edit-28 hours agothe past isn’t about just correcting the amount for inflation. it’s saying this is what you need to match the percentage of the cost of buying a home at the time. the math could still be wrong but they’re not talking about the same value.
It isn’t. Not even close. This says $12 https://www.epi.org/blog/the-value-of-the-federal-minimum-wage-is-at-its-lowest-point-in-66-years/
That’s just straight inflation, the meme is talking about housing inflation, which has been higher than monetary inflation.
the past isn’t about just correcting the amount for inflation. it’s saying this is what you need to match the percentage of the cost of buying a home at the time. the math could still be wrong but they’re not talking about the same value.