How Well Can You Live On Minimum Wage?

[MindMover]

Last edited Fri Apr 6, 2012, 12:26 AM - Edit history (1)

Raise it? Don’t raise it? The state of the minimum wage has long been a hot-button political issue, but in a struggling economy, an election year, and with many states proposing changes, it’s only getting hotter.

This month, the New Jersey General Assembly’s Labor Committee approved legislation that would set a minimum wage of $5 an hour by June 2013 for tipped employees (the current rate is the federal minimum of $2.13). Also making headlines is the city of San Francisco, which raised its minimum wage to $10.24 in February―that’s nearly $3 above the federal minimum of $7.25, which hasn’t risen since 2009. Many states, including New York and Massachusetts, are also considering increases, to much praise and outcry.

Approximately 4.4 million Americans, or 6 percent of all hourly workers, earned wages at or below the federal minimum in 2010, and workers under age 25 made up about half of them. Many fiscal conservatives and economists argue that an increase could further raise unemployment, while others, especially at the state and local level, claim minimum wage is in serious need of a hike. Even the Republican candidates are divided. Mitt Romney said at a trip to New Hampshire that the minimum wage should naturally raise according to inflation clocked by the Consumer Price Index―and was soon lambasted by radio host Rush Limbaugh. Rick Santorum has also taken flak for supporting a minimum wage increase in a 2006 campaign commercial (Newt Gingrich and Ron Paul are both adamantly opposed.)

http://www.businessinsider.com/minimum-wage-and-what-it-buys-you-1950s-to-now-2012-4?

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Minimum Wage is what an employer wants to pay......

Livable Wage is what an employee wants to get paid......

[Warpy]

1. Living well is simply not possible

although one can barely survive on it for a period of time.

It won't buy safe housing, nutritious food and health care.

[Voice for Peace]

2. it's a big stretch even if you're making $10/hour

I don't know how people do it on less, unless living communally, sharing living expenses with others.

[Ecumenist]

3. May I make a small correction; Minimum wage is what an employer wants to pay.....

Livable wage us what an employee NEEDS to get paid to SURVIVE. There, I fixed it for you. And a belated welcome to DU Mindmover

[wendylaroux]

4. I read somewhere

that when an employer pays only minimum wage what they're actually saying is-- ''I would pay you less if I could"

[justgamma]

5. Repub platform in Iowa

states that the Pukes want to do away with the minimum wage. Grassley said, that perhaps we should be paid more like the Chinese. They are not keeping their agenda a secret.