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It hasn't lagged behind Social Security, VA and SSI payments or the official federal COLA rates.
The federal minimum wage back in 1986 was $3.35, today its $7.25
The federal SSI payment back in 1986 was $336/month, today its $733.
Both up about 117% over the past 30 years.
Impoverished working people aren't falling behind any more than fixed income senior citizens, and are probably doing BETTER than them as old people spend a lot more on medical care which has risen by a greater amount than the cost of living in general
It hasn't lagged behind Social Security, VA and SSI payments or the official federal COLA rates.
The federal minimum wage back in 1986 was $3.35, today its $7.25
The federal SSI payment back in 1986 was $336/month, today its $733.
Both up about 117% over the past 30 years.
Impoverished working people aren't falling behind any more than fixed income senior citizens, and are probably doing BETTER than them as old people spend a lot more on medical care which has risen by a greater amount than the cost of living in general
Minimum wage has lagged behind the ACTUAL cost of living experienced by many people who earn it. In my area, rents increased 15 percent last year while CPI shrugged. If minimum wage workers owned their homes and had fixed rate mortgages, you'd have a point.
Then there should be NO artificial government housing restrictions which unnecessarily cause the cost of housing to skyrocket for minimum wage workers.
You seem to want a free market in labor but not in housing, which is nuts unless you're okay with largescale homelessness.
Minimum wage has lagged behind the ACTUAL cost of living experienced by many people who earn it. In my area, rents increased 15 percent last year while CPI shrugged. If minimum wage workers owned their homes and had fixed rate mortgages, you'd have a point.
Fair enough analysis.
But since minimum wage hasn't kept up, neither have the old folks as their checks haven't kept up with the same inflationary cycle.
If the minimum wage gets raised, as proposed to $15, should not the checks for SSI and Social Security recipients be doubled as well?
Its still possible for someone to survive on minimum wage as long as they get state and federal benefits like:
Section 8 housing
EBT
Medicaid
I'm not sure whether able-bodied childless non-seniors can get Section 8, I've never seen it.
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