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Dec. 25th, 2010 11:43 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
sathorAverage wages rose 22% over the course of the past ten years.
Inflation was 28% and some change.
The gap is bigger for minimum wage workers because their wages only rose 20% when the law was passed increasing it from (two decades?) of $5.15/hr to $7.15/hr. Realistically the minimum wage worker is suffering a whole lot more from the gap (it is far more significant for them.)
Couple that with unemployment that some estimate is in the arena of 20%, and I'm not quite sure what to think.
And as a secondary thought, it would be nice to know if the social security average wage calculation takes into account those who didn't have any taxed income at all. Somehow I doubt it.
According to SS, average wage was $40,711/y (Before or after taxes? Another obfuscation, but probably before.)
Inflation was 28% and some change.
The gap is bigger for minimum wage workers because their wages only rose 20% when the law was passed increasing it from (two decades?) of $5.15/hr to $7.15/hr. Realistically the minimum wage worker is suffering a whole lot more from the gap (it is far more significant for them.)
Couple that with unemployment that some estimate is in the arena of 20%, and I'm not quite sure what to think.
And as a secondary thought, it would be nice to know if the social security average wage calculation takes into account those who didn't have any taxed income at all. Somehow I doubt it.
According to SS, average wage was $40,711/y (Before or after taxes? Another obfuscation, but probably before.)
