Inflation eating US alive: $7.25 will be worth less than $5.15 before Minimun Wage raises in 2009

1997: Minimum Wage raised to $5.15
2009: Minimum Wage will shift to $7.25
www.aflcio.org...

Then comes inflation:
This calculator I found doesn't go past 2007, as we don't know what the specific rates will be leading into 2009.
inflationdata.com...
So I'll just do from 1997 until 2007:

27.3%

Note: This Inflation Calculator gives you the percentage of increase in prices over a period. For example from January 2005 - January 2006 prices increased 3.99% therefore something that cost $1 in January 2005 would cost $1 + (inflation rate) in January 2006. So in this case it would be $1+($1 x .0399)= $1.0399 or $1.04

Here I'll even round off the .3%, and then subtract the $.27 in value lost, which leaves the current value of the dollar compared to 1997 at $.73.

Just going by todays Dollar value, $7.25 is actually only worth $5.29 compared to 1997. $5.15 today is only worth $3.76 compared to 1997.

Tack on 2 more years, and in 2009 $7.25 will definitely be worth less than $5.15 per hour.

Welcome to the reality of the hidden tax: INFLATION.

Neither Republicans and Democrats will save US from this. They will only avoid the subject as if it's irrelevant. Guys like Ron Paul are the only few who will stand up to them, so it's no wonder Fox News and the rest are trying to spin him out of the election. The money goes to paying for the global domination that you hardly hear about on TV, unless it's a full scale overt war that they can't keep quiet.

[edit on 22-5-2007 by IgnoranceIsntBlisss]

Get a good education and a good job and you won't have to worry about it!

It's up to you, not the government, to decide what you are worth!

Young people (16-19) have to start somewhere. But even so, the Government should not tell businesses what to pay people.

Originally posted by RRconservative
Get a good education and a good job and you won't have to worry about it!

get a good education ok check and FIND A GOOD JOB and hold onto it when STAGFLATION hits.

hmmm easier said than done.

the longer the public stays in the dark the longer the economy will take to go in the toilet, however when it does the longer and harder it will be generally for them to get back out

barnacke and the boys think that the great depression occured because there was not enough money printed by the fed in those days and he guaranteed he would not let another deflation led depression overwhelm the economy

that's nice. he also said he would like to make there policy's and actions of the FED more transparent and what does he do? stops printing m3 (money supply)

the inflation is just starting to creep in on the public radar (the sheeple) and as rising energy prices continue to erode away at there disposable income and people go deeper and deeper into financial dire straits as well as prices of foods and clothing going up.

well unless long term fiscal policy changes in some way (gov't reduces spending) and exports rise (production) which is being outsourced, the world will continue to diversify away from the dollar and there will be less and less cash flow coming into the country and then the lenders will start to get tighter and buisness will also be going under (unemployment rising) and prices rising (inflation)= stagflation which could lead into a depression.

buy gold buy silver or move to europe if u can find a job there

the "gubment" is going to continue to buy up natural resources and buy the time we are waist deep you will need the "mark" to buy or sell



[edit on 25-5-2007 by cpdaman]

Thansk for your words. I'm wondering if anyone could double-check my numbers for me? Inflation is a chaotic thing to measure, and someone in another thread pointed out that if you go back to like 1984 the inflation percentage is over 95. I've gotten sloppy in teh math department in recent years as I constantly cram my brain with all sorts of different issues and concepts that rarely require any math.