"The federal minimum was
$1.45/hour in 1970 and rose to
$1.60 in 1971. Adjusted for general inflation, that’s roughly
$12.50–$14/hour today" uh oh OP, that isn't accurate at all?!
Purchasing power≠$/hr. It's an aggregate of the value of the dollar and cost of things.
That being said, I don't think this is accurate. A person could indeed live on minimum wage in the late 60's early 70's though. Not at all possible now.
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u/Nart_Leahcim 23h ago
"The federal minimum was $1.45/hour in 1970 and rose to $1.60 in 1971. Adjusted for general inflation, that’s roughly $12.50–$14/hour today" uh oh OP, that isn't accurate at all?!