more bullshit from the king of it...
the federal minimum wage increase is not and has not ever been considered a material
contributor to the inflation of the 70's...
massive federal debt from Vietnam, poor central bank policy, Nixon tossing Bretton Woods
gold window out...all of these things rocked the dollar
The minimum wage went to $1.00 an hour effective February 1967 for newly covered nonfarm workers, $1.15 in February 1968, $1.30 in February 1969, $1.45 in February 1970, and $1.60 in February 1971. Increases for newly subject farm workers stopped at $1.30. The 1966 amendments extended the fulltime student certification program to covered agricultural employers and to institutions of higher learning.
In 1974, Congress included under the FLSA all no supervisory employees of Federal, State, and local governments and many domestic workers. (Subsequently, in 1976, in National League of Cities v. Usery, the Supreme Court held that the minimum wage and overtime provisions of the FLSA could not constitutionally apply to State and local government employees engaged in traditional government functions.) The minimum wage increased to $2.00 an hour in 1974, $2.10 in 1975, and $2.30 in 1976 for all except farm workers, whose minimum initially rose to $1.60. Parity with nonfarm workers was reached at $2.30 with the 1977 amendments.
The 1977 amendments, by eliminating the separate lower minimum for large agricultural employers (although retaining the overtime exemption), set a new uniform wage schedule for all covered workers. The minimum went to $2.65 an hour in January 1978, $2.90 in January 1979, $3.10 in January 1980, and $3.35 in January 1981.
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