February 3, 2014
The minimum wage has not kept pace with inflation, this is a fact that not even Republicans attempt to refute, at least not that I’ve seen. But do you know what has far outpaced inflation? Executive pay. According to a Facebook post by former labor secretary Robert Reich, when minimum wage was first enacted in 1935 it was “intended to represent society’s sense of minimally decent pay.” Reich says at that time “executives were paid about 20 to 30 times the average wage.” But we all know what has happened over the decades.