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04:23 AM
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I calculated based on minimum wage 30 years ago and cost of living
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:egads!:MV81MTY2MDU3Xzk0OTEwMTk2XzdBNUEyQTM5] [quote:Copperhead:MV81MTY2MDU3Xzk0OTA5NTU5XzEzMUI2NDI=] [quote:Anonymous Coward 80398165:MV81MTY2MDU3Xzk0OTA5NDU1Xzk0NTkwNUU=] When minimum wage was instituted, it was intended that one person working would be able to pay every bill, including a mortgage on that salary. And it did so. [/quote] :bsflag: [/quote] Was Minimum Wage Ever Meant to Be a Living Wage? From the beginning, the minimum wage was meant to be a living wage—meaning families could live off of the pay comfortably, rather than struggling paycheck-to-paycheck. President Franklin Delano Roosevelt was a major proponent of the living wage, saying that “by living wages, I mean more than a bare subsistence level. I mean the wages of a decent living.” With this idea, a family that earned minimum wage could not only cover the costs of food and shelter but also save for emergencies and have the funds to thrive rather than just get by. https://www.lendio.com/blog/minimum-wage-livable/ [/quote]
Original Message
I made $11/hr back in 1992 which I considered a low wage. Minimum wage in 1992 was $5.50. Federally now it’s $7.50/hr. Some states have higher. , Florida being $10/hr and California being$13/hr
Prices of things since 1992 have gone up 300-700% but the Federal minimum wage has only gone up 100%. Gas, for example, has gone up 400%. Toyota pickup roughly up 500%. Rent where I used to live in 1992 has gone up 600%. Food I’m paying probably 300% more
Based on my calculations with cost of living , the min wage should be, at least, $25/hr to be able to pay your bills
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