Friday, July 11, 2008

More evidence

The federal minimum wage goes up in a couple of weeks, because the Democrats won control of Congress in the 2006 elections.

This will be the 20th increase since the minimum wage was established in 1938. So, 70 years, 20 increases - the long-term average interval is about every three-and-a-half years.

The two longest intervals between increases?

The longest was the ten years between 1997 and 2007, when the Republicans controlled Congress (and then all three branches). Note that the price of gasoline (to take one example) about tripled while the minimum wage remained stagnant.

The second longest interval was the nine years from 1981 until 1990, when the Republicans controlled the presidency and then the Senate.

(And the third longest interval was from 1967 to 1974, most of which was when the Republicans controlled the White House.)

Republicans are bad for wage-earners. Why somebody who works for a living would ever help vote them into power remains a mystery to me.

Wages go up when Democrats are in power. Wages - and standards of living - go down when Republicans are in power.

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