Fact: If today’s minimum wage were the same as the minimum wage in 1969 (adjusted for inflation), the minimum wage would be $9.39. Instead, it’s $7.35, more than 20 percent lower than it was 45 years ago. Because the minimum wage has not risen with inflation, contributions to the Social Security Trust Fund are a lot less than they would otherwise be. If the minimum wage were indexed to inflation, it would strengthen Social Security.
To learn more, go to Social Security Works.