Elizabeth Warren: Why isn't minimum wage $22 an hour like it used to be?

[Bay Boy]

56. I'm not sure where the $22 hour comes from...

...based on this chart:
Federal Minimum Wage Rates, 1955–2012
(go to link to read more clearly)
Year mw 1996
1955 $.75$4.39 1983 3.35 5.28 2011 7.25 5.06
1956 1.00 5.77 1984 3.35 5.06 2012 7.25 4.97
1957 1.00 5.58 1985 3.35 4.88
1958 1.00 5.43 1986 3.35 4.80
1959 1.00 5.39 1987 3.35 4.63
1960 1.00 5.30 1988 3.35 4.44
1961 1.15 6.03 1989 3.35 4.24
1962 1.15 5.97 1990 3.80 4.56
1963 1.25 6.41 1991 4.25 4.90
1964 1.25 6.33 1992 4.25 4.75
1965 1.25 6.23 1993 4.25 4.61
1966 1.25 6.05 1994 4.25 4.50
1967 1.40 6.58 1995 4.25 4.38
1968 1.60 7.21 1996 4.75 4.75
1969 1.60 6.84 1997 5.15 5.03
1970 1.60 6.47 1998 5.15 4.96
1971 1.60 6.20 1999 5.15 4.85
1972 1.60 6.01 2000 5.15 4.69
1973 1.60 5.65 2001 5.15 4.56
1974 2.00 6.37 2002 5.15 4.49
1975 2.10 6.12 2003 5.15 4.39
1976 2.30 6.34 2004 5.15 4.28
1977 2.30 5.95 2005 5.15 4.14
1978 2.65 6.38 2006 5.15 4.04
1979 2.90 6.27 2007 5.85 4.41
1980 3.10 5.90 2008 6.55 4.77
1981 3.35 5.78 2009 7.25 5.30
1982 3.35 5.78 2010 7.25 5.22


Read more: Federal Minimum Wage Rates, 1955–2012 | Infoplease.com http://www.infoplease.com/ipa/A0774473.html#ixzz2NpfnFkUV