I was reading about the minimum wage yesterday and the columnist came up with some interesting data. In 1938, when the Minimum Wage law was enacted, despite attempts by conservatives to defeat it, an hours worth of minimum wage (.25) would buy 2-1/2 loaves of bread. In 1968, the same hour of labor ($1.60) would buy nearly 5 loaves of bread. In 1998, and today…the hour ($5.15) would buy the same old 2-1/2 loaves once more. (Plain white bread only!) Bad news for bakeries…and those who must try and live on minimum wage. And people wonder why welfare is preferred over working for a living? Ask a “Compassionate Conservative”.
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