not_IO@lemmy.blahaj.zone to Political Memes@lemmy.worldEnglish · edit-22 days agoinsane if truelemmy.blahaj.zoneexternal-linkmessage-square53fedilinkarrow-up11arrow-down10file-text
arrow-up11arrow-down1external-linkinsane if truelemmy.blahaj.zonenot_IO@lemmy.blahaj.zone to Political Memes@lemmy.worldEnglish · edit-22 days agomessage-square53fedilinkfile-text
minus-squarecygnus@lemmy.calinkfedilinkarrow-up0·2 days 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-squarepyre@lemmy.worldlinkfedilinkarrow-up0·edit-22 days 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.
minus-squareknightly the Sneptaur@pawb.sociallinkfedilinkarrow-up0·2 days agoThat’s just straight inflation, the meme is talking about housing inflation, which has been higher than monetary inflation.
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/
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.
That’s just straight inflation, the meme is talking about housing inflation, which has been higher than monetary inflation.