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When min wage was introduced, it was designed to keep employers from paying chunk change to employees and establish a wage that a person needs for basic living. Basic living includes food and shelter. Now what is consider modest in today standards is a apt with working appliances, no holes in the wall and in a safe area. Due to "supply and demand" Housing rentals and prices remain above min wage reach for decades and nothing has ever been done about it. I get it you want more money for your property, so you will price it above xxx so the next class person can afford it. Min wage was base on single person to live in something safe and secure, not a box on side of the street.
The price of goods and services is based largely on Supply & Demand, and any attempt to coerce the price to less than market rates results in the creation of Black Markets, and numerous other methods and means to defeat interference in the market.
One of the functions of Demand-pull Inflation is to preserve, conserve and prevent the depletion of resources, goods and services.
Idiotic suggestions like tying minimum wage to the rate of Inflation only serves to deplete resources, goods and services faster, and always results in increased prices.
There's nothing wrong with being rewarded for your efforts.
The average CEO wage in the US is $231,080 annually. I call PURE BS ON THIS STATEMENT!
From the Bureau of Labor Statistics, instead of from a "news" organization that cherry-picks a minuscule number of CEOs to statistically skew the results for slanted reporting.
Only 3% of all US companies are publicly-traded corporations, and even of those, only small percentage are compensated in the $Millions.
I call pure BS on your CEO statement. Those maybe the paycheck they get, but doesnt include stock trade, bonous and other off reporting that they get. Sorry, Aint no CEO going to run a muili-billion or million dollar company for 250k a year. Like i said, they can all go without a single paycheck and live off their other investments for years and not worry about putting bread on the table.
Over all good post and constructive.
Nothing wrong in changing the status quo in what the market thinks it wants vs what the real world can afford. Market is base on who is stupid enough to keep paying for it vs the smart ones that knows its to expensive. guess we got lot of stupid people in the world.
Not every landlord is raising rents 10-15 percent a year .
Believe It or not most want to keep their tenants long term because turnover is very costly .
People shouldn’t move or live in places where housing takes up such a high amount of their income.
I could find cheaper places for those people to live where they can find jobs and not have to live in a van or garage .
But you know what they will say “the weather .. we can’t leave “ or many other excuses .
People move all the time poor , middle class and rich .
If you see an area getting more expensive and you are a renter that’s a sign to start looking for a cheaper area
I wouldn’t wait around for government to step in and help build cheap housing.
The topic of this thread is that "a minimum wage workers needs 2.5 full time jobs to afford a one bedroom apartment in most of the US"
From the referenced article:
Quote:
Only five states — Arizona, California, Colorado, Oregon, and Washington — have one-bedrooms affordable for minimum-wage workers across 22 counties. All of these states have minimum wages higher than the federal minimum wage, but if you're looking for housing outside of the 22 counties, even these higher minimum wages aren't enough. The housing wage for a one-bedroom apartment in Washington is $21.65. A worker would need income from two jobs at Washington's minimum wage of $11.50 (the highest of all five states) to afford a one-bedroom apartment. Workers fare a little better in Arizona, where the minimum wage of $10.50 is actually the lowest of the five states. The housing wage for a one-bedroom apartment there is $14.64. Even Arkansas, which has the most affordable housing in the country, according to NLIHC data, has a higher one-bedroom housing wage ($10.98) than minimum wage ($8.50).
This is a nationwide problem, it is not one that most people can resolve by moving elsewhere. It might not be this bad if as part of the tax bill employers would have paid lower taxes if they increased worker's wages but that might make the CEO's upset and we can't have that can we?
It's not something that can be fixed easily, all I'm trying to get across is that if you think there are too many homeless now, just wait a few years..unless something dramatic changes those homeless numbers are going to go way up.
Or instead of government deciding how much an employer pays their employees .. employeees can make themselves more valuable to the company and get paid more .
Or create your own job or business .
It’ll never be “enough” $15 hr then it’ll be we need $20 , $30 hr.
It’s a problem that needs to be solved by the individual not the employer or government .
The average CEO wage in the US is $231,080 annually.
From the Bureau of Labor Statistics, instead of from a "news" organization that cherry-picks a minuscule number of CEOs to statistically skew the results for slanted reporting.
Only 3% of all US companies are publicly-traded corporations, and even of those, only small percentage are compensated in the $Millions.
I'm not quite clear how the BLS arrived at those figures. "Annual mean wage" is footnoted saying they multiplied hourly wage by a 40 hr work-week x 52 weeks/yr. Since CEO's aren't paid by the hour, nor do they work only 40 hrs/wk, I think that calculation is flawed. However, that figure is in line with self-reported CEO salaries on Glassdoor. https://www.glassdoor.com/Salaries/c...SRCH_KO0,3.htm It's hard to get at real CEO salaries because most online articles at skewed towards someone screaming that the top tier of CEO's "make too much."
I'm not quite clear how the BLS arrived at those figures. "Annual mean wage" is footnoted saying they multiplied hourly wage by a 40 hr work-week x 52 weeks/yr. Since CEO's aren't paid by the hour, nor do they work only 40 hrs/wk, I think that calculation is flawed. However, that figure is in line with self-reported CEO salaries on Glassdoor. https://www.glassdoor.com/Salaries/c...SRCH_KO0,3.htm It's hard to get at real CEO salaries because most online articles at skewed towards someone screaming that the top tier of CEO's "make too much."
do you honestly think they will report their real wage? U got a better chance in having trump showing his IRS tax forms.
Like i said, their is not one single CEO in the top 500 mulit billion/million company going to work for 250k a year. aint no way.
Or instead of government deciding how much an employer pays their employees .. employeees can make themselves more valuable to the company and get paid more .
Or create your own job or business .
It’ll never be “enough” $15 hr then it’ll be we need $20 , $30 hr.
It’s a problem that needs to be solved by the individual not the employer or government .
But if your company is grossing 60 billion a year profit, tell me WTF your business is going to do with that kinda money other then sitting in the bank?
When hear profit, i hear all the bills are paid. ( salary, taxes, lobbiest, under table dealings with local and national congress).
Minimum wage for 40 hours is enough to pay for cellphone, high speed internet, cable and Netflix. There is the problem. Minimum wage for 40 hours is also enough to pay for a used car that runs, insurance, gas, shop labor rate for repairs, and a beef jerky and latte every time you go to the convenience store for gas. There is a second problem. Everything else, rent, food, comes out of the other .5 job.
Minimum wage for 40 hours is enough to pay for cellphone, high speed internet, cable and Netflix. There is the problem. Minimum wage for 40 hours is also enough to pay for a used car that runs, insurance, gas, shop labor rate for repairs, and a beef jerky and latte every time you go to the convenience store for gas. There is a second problem. Everything else, rent, food, comes out of the other .5 job.
Problem is min cant get you in simple housing due to the 3x your wage requirements.
Problem is min cant get you in simple housing due to the 3x your wage requirements.
Nonsense. Aunt Margaret won't even ask your income.
All she'll ask is that you pay her what you can and chip in with the yardwork.
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