From George Will:
She leavens her sentimentality with nostalgia: “When I was a kid, a minimum-wage job in America would support a family of three. It would pay a mortgage, keep the utilities on and put food on the table.” Well. The Adam Smith Institute’s Tim Worstall suggests some pertinent arithmetic: When Warren was 10 in 1959, the federal hourly minimum wage ($1, which would be $8.55 in 2018 dollars) for 2,000 hours (40 hours a week for 50 weeks) would provide $2,000 a year, below the poverty threshold ($2,324) for a family of three.
Yes, I know, I’ve been doing this a long time and I should be blase. There’s still a certain perking up at seeing a point being picked up and broadcast in this manner.
Thin is though Warren’s been repeatedly claiming this. And I seem to be the only person who went do the sums. Why?