The minimum wage would be $61.75 an hour if it rose at the same pace a

The federal minimal salary within the United States has now not risen since 2009. It was once set at $7.25 an hour that 12 months, and stays so nowadays in 2022. Wall Street bonuses, however, have risen often. And now a record from presentations that if the federal minimal salary price higher on the price of the bonuses investors get, the beginning salary for Americans can be set at $61.75.

In 2021, the common Wall Street bonus was once a staggering $257,500–that’s on best in their annual wage, in accordance to New York State Comptroller bonus information. But again in 1985, the common Wall Street bonus was once “just” $13,970 (non-inflation adjusted). That manner Wall Street bonuses have higher 1,743% during the last 36 years.

But the comparability will get much more miserable. The reasonable Wall Street bonus of $257,500 in 2021 was once a 20% build up from handiest the 12 months sooner than, which was once neatly above the 7% annual inflation price. But, the common weekly income for U.S employees handiest rose handiest 2% between 2020 and 2021, which means the common employee’s income misplaced purchasing energy.

These numbers display two failings by way of the federal government, in line with the failure to lift the federal minimal salary for 13 years in a row and the failure to enforce provisions within the 2010 Dodd-Frank Act that restrict monetary establishments from rewarding their investors for taking dangers which can be deemed beside the point.

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