Since 1969 the decimal place has moved on the American monetary system.
Price anything you please, that which was a dime costs a dollar and what was a hundred is a thousand.
The minimum wage of $1.65? In 1969 was $16.50 in today's dollars
The minimum wage is currently $.70 in 1969 dollars with a vicious political fight going on because folks have the temerity to suggest it be raised to $1.02
Of the 5 richest countries per capita on this planet only one, Luxemburg, has a Minimum wage law. And Luxemburg is not known for being a country of laborers as they make most of their money in finance and as Europe's Data hub.
So if you actually use logic then your premise is wrong so your complete argument is wrong