Originally Posted by Mr. Kotter
Eh, as FR suggests....mechanization, technology, and globalization cloud the productivity/minimum wage correlation here. If Warren is doing what politicians tend to do--demagogue their pet issue, she can be charitably said to be "taken out of context," not meaning to say what critics accuse her of really saying.
If on the other hand, she actually believes she is making some profound point about a real disparity between cost of living and the minimum wage, she is gravely mistaken--at least according to a CPI plus inflation calculator.
Minimum wage in 1960 was $1.00; today it is $7.25. The 1960 value of $1.00 would translate into $7.84....far from Warren's attempt to portray a startling disparity.
Simply put....either she is being intentionally disengenuous; or she's stupid. Since she's pretty clearly not stupid, she's simply being a typical politician.
I agree with you, How odd LOL