OTCQX:GTBAF - Post by User
Post by
lechmeiron Oct 12, 2020 6:35pm
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Post# 31705141
Goaweigh
Goaweigh
You make a great deal of sense.
The minimum wage in 1960 was a dollar, and you could live on it and raise a family. You wouldn't be rich, but you would be surviving. To equal the buying power of that dollar, you would need 22 dollars today.
When there were higher marginal rates, wealthy people still did well, but as marginal rates rose with wealth, the owner class was more willing to raise wages and reinvest. Reagan changed that. Wages used to rise with productivity gains. Now they don't, The few at the top claim it all.
