Online clock documents billions lost by minimum-wage workers

[LuckyTheDog]

To commemorate the fifth anniversary of the most recent increase in the minimum wage, the Center for Economic and Policy Research (CEPR) last week introduced an online, real-time clock showing how much money minimum wage workers continue to lose as long as the wage remains frozen at its current level.

The minimum wage was last raised in 2009, when it went from $6.55 to $7.25 per hour. While this was a much needed increase in pay for millions of minimum wage and low-wage workers, inflation has eroded the purchasing power of the minimum wage since then.

MORE HERE: http://wonkynewsnerd.com/online-clock-documents-billions-lost-by-minimum-wage-workers/

[tech3149]

1. That money wasn't lost, it was stolen!

I always worked as a tradesman without the benefit of union representation. I worked to serve the customer/public interest and was regularly ripped off doing prevailing wage work without seeing that benefit in my pay. In some instances I was directly asked to forge my paperwork to support the company that benefited from my skills.
That's one reason I'm not too sad to not be working in my trade today.

[pansypoo53219]

2. yeah. where did the money go. to the 2%. we need a $15 minimum wage. hell. INDEX EVERYTHING!

[LuckyTheDog]

3. A rising tide should lift all boats...

... but as the wealth rolls in, we find that the top 1% has built a cofferdam around the rest of us.

[daleanime]

4. Kick....

[Boom Sound 416]

5. I'm for a minimum wage increase, but

I don't understand this clock

Did it start counting when the MW was increased in 2009 or as inflation rises second by second?

And the money lost is the difference relative to inflation rising?

I've always thought that MW tied to inflation was the way to keep people in check make them pay when they aren't.

Something akin to meal penalties in some union contracts.