So, while Congress didn't want to continue to raise the minimum wage they did believe an increase in 'circulating capital' would boost the economy. So, they added people to under the law and increased the circulating capital.
Well, look at that. The 1960s hummed.
September 3, 1963 while President Kennedy was still running the show and demanding civil rights for our minorities the minimum wage for those covered by the original law increased to $1.25 per hour.
September 3, 1964 the minimum wage increased for those Americans covered under the amendments of 1961 to $1.15 per hour. But, you'll guess what happened next. They same folks received another raise on September 3, 1965. No lie. It increased to $1.25 per hour. And look at that graph. True blue. Isn't that the darnest thing.
The War on Poverty is on it's way, but, not quite engaged yet.
There was a war though. Yeah, Vietnam. But, you know, I thought we all had to sacrifice for war, right? "W"rong.
On February 1, 1967 Congress got tired of the different groups of folks so they brought everyone under the same hour wage of $1.40. They would receive another raise on February 1, 1968 to $1.60 an hour. Amazing.
There was another tier of minimum wage laws in 1966. Sure enough. The 1961 expansion of the amendments worked so well, Congress kept right on goin'. The minimum wage laws would now extended coverage to State and local government employees of hospitals, nursing homes, and schools, and to laundries, dry cleaners, and large hotels, motels, restaurants, and farms.
February of 1967 would bring them a minimum wage of $1.00 per hour. February of 1968 saw a minimum wage to farm and non-farm labor of $1.15 per hour.
Eventually, more amendments extended to the remaining Federal, State and local government employees who were not protected in 1966, to certain workers in retail and service trades previously exempted, and to certain domestic workers in private household employment.
I'll be darn the whole flyin' country was not covered by minimum wage labor laws. Wow. And the economy grew. It must have been that circulating capital stuff, huh?
