By Bryce Covert
When protestors gathered in the nation’s capital 50 years ago from Wednesday, they had ten concrete demands, one of which was “A national minimum wage act that will give all Americans a decent standard of living.” They also pointed out that research showed that “anything less than $2.00 an hour fails to do this.” A $2 minimum wage would be $15.27 an hour in today’s dollars.
Yet today’s minimum wage stands at $7.25, where it hasn’t budged for four years. And it has in fact fallen in value since Dr. Martin Luther King, Jr. made his “I Have A Dream” speech. If it had kept up with inflation since the 1960s, it would be over $10 an hour.
The low minimum wage has huge racial implications today as it did then. People of color make up 42 percent of workers earning that wage but just 32 percent of the overall workforce. If the minimum wage were raised to $10.10 an hour, they would be the majority of those lifted out of poverty, as it would raise wages for 3.5 million people of color.
Read More An Unfulfilled Demand From The March On Washington: A $15 Minimum Wage | ThinkProgress.
soulbrotherspeaks.com 
The minimum wage doesn’t help low skilled workers and in fact makes things worse. Economist Thomas Sowell has written about this topic extensively. In fact, this was a settled topic among economists just 20 years ago, but it has become politicized again.
The minimum wage is what is called Zombie Economics It’s a bad idea that never dies. It’s understandable why it exists. It’s popular because people don’t understand economics.
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