Viewpoints
Federal minimum wage back to 1950 level
Oct. 25, 2013
The minimum wage has put a floor under workers’ wages since taking effect 75 years ago on Oct. 24, 1938. But at $7.25 an hour, today’s federal minimum wage is the same as it was in 1950, after adjusting for inflation.Too little, too late minimum wage raises are the next best things to eliminating it for minimum wage opponents.“If we would have had our druthers,” said Murray Weidenbaum, chairman of President Ronald Reagan’s Council of Economic Advisers, “We would have eliminated it.” But, as the