not_IO to Political Memes@lemmy.worldEnglish · edit-22 days agoinsane if trueexternal-linkmessage-square40linkfedilinkarrow-up1711file-text
arrow-up1711external-linkinsane if truenot_IO to Political Memes@lemmy.worldEnglish · edit-22 days agomessage-square40linkfedilinkfile-text
minus-squarecygnus@lemmy.calinkfedilinkarrow-up2·2 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-squareknightly the Sneptaur@pawb.sociallinkfedilinkarrow-up22·2 days agoThat’s just straight inflation, the meme is talking about housing inflation, which has been higher than monetary inflation.
minus-squarepyre@lemmy.worldlinkfedilinkarrow-up8·edit-22 days agothe post 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 post 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.