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06:42 PM
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I calculated based on minimum wage 30 years ago and cost of living
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[quote:Anonymous Coward 80859772:MV81MTY2MDU3Xzk0OTEyMTI4X0Q0MUYxNjdF] [quote:GemKline:MV81MTY2MDU3Xzk0OTExNzY2XzQxRjMyRDIx] I looked up the prices of some common products in 1992. Idaho potatoes (5-lb bag) - $1.69 Rye bread (loaf) - 0.99 Oreos (20-oz package) - $1.59 Milk (1-gal) - $2.78 Eggs (dozen) - 0.93 Total 7.98 If you went out and bought the same items today it would cost $17.86 (I used Instacart). That’s a 110% increase over 30 years. Not terrible. [/quote] Now look up the average price of a single family home anywhere in the country in the same timeframe, the average rent for any place that wasn't a total dump, the price of new/used cars and the price of gas, just to name a few. To downplay or deny the fact that wages have not kept up with inflation or the cost of living over the past few decades by listing off a few items on a grocery bill is... I don't even know. [/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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