Minimum wage politics
I haven’t used this venue to promote my Harper’s piece on the awfulness of Hillary Clinton, but that’s about to change. First this little note, and then some bits from the cutting-room floor that wouldn’t fit next week.
Some Democrats have been saying that a Hillary presidency would almost certainly lead to a rise in the minimum wage and a Republican wouldn’t. Maybe. But here’s the recent historical record. I have to admit I was surprised by this, but here you go:
• The real value of the minimum wage rose 7.7% under George H.W. Bush (measuring from January 1989–January 1993—subsequent calculations follow the same template).
• It fell by 1.5% under Bill Clinton.
• It rose by 5.4% under George W. Bush.
• So far under Obama it’s down 1.3%
This history aside, I’m not saying that the minimum wage is more likely to rise under a Rep than a Dem, but Dems’ faith in the certainty of a minwage increase under Hillary seems misplaced.
PS: Yes, Harper’s is beyond a paywall. They also paid me well and have an excellent staff of editors and publicists. You can’t get that good stuff for free.