Yeah. I mean you could look at anything with a “could be worse” attitude, but this is still pretty bad. The GDP per capita in 1938 was the equivalent of about $14,000 in 2022 according to an inflation calculator. The GDP per capita in 2022 was $76,622.
The country has gotten about 450% richer. And the people that support the country and it’s economy has gotten just 33% richer using $5.44 and comparing it to today’s $7.25.
If the country were to keep just half of the 450% increase and the other 225% was reinvested into the minimum wage, the minimum wage would be set at $17.68 and the United States GDP per capita would still be $45,500. More than the entire European Union.
Yeah. I mean you could look at anything with a “could be worse” attitude, but this is still pretty bad. The GDP per capita in 1938 was the equivalent of about $14,000 in 2022 according to an inflation calculator. The GDP per capita in 2022 was $76,622.
The country has gotten about 450% richer. And the people that support the country and it’s economy has gotten just 33% richer using $5.44 and comparing it to today’s $7.25.
If the country were to keep just half of the 450% increase and the other 225% was reinvested into the minimum wage, the minimum wage would be set at $17.68 and the United States GDP per capita would still be $45,500. More than the entire European Union.