Minimum wage began in 1938 at just 50 cents an hour. Since then, every increase has come with a hidden cost: a steady decline in your real buying power. In my latest podcast, I explain how these wage hikes quietly rob you of your hard-earned dollars. It may look like you’re earning more, but in reality, you’re paying the price.

The image above published by the Federal reserve shows your buying power in green. Blue shows how much buying power we lost.

These graphs show how states like California and New York, has less buying power than Texas and Mississppi. Both California and New York has a higher minimum wage than Texas and Mississppi.

For more details listen to my podcast.