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What in your opinion is a livable wage for your region? In you opinion what are the minimum necessaries for a comfortable standard of living?
I believe the following are necessary necessities for a married family of four:
Federal Income Tax State Income Tax Social Security. Health Insurance Life Insurance Car Insurance Property Insurance, Renter Insurance Transportation Costs (Car, License Plates, Bus, Train, Etc) Housing (Rent, Ownership, Homeowners Association, Maintenance, Property Tax) Clothing Food (Dining in/out) Utilities (Telephone, Electricity, Natural Gas, Water, Sewer, Cable) Miscellaneous (Entertainment, Vacation, Movies) Savings (Rainy Day Fund, Retirement, College Education) Child Care
????
Minimum wage is +/- $7 per hour, times 40 hours equals $14,560 annually. Say the spouse also works and makes another $14,560 annually. That is $29,120 annually. That is barely sufficient to cover housing and food. Could you live on $29,120 annually?
If you had to make a decision what would you cut from the list? Health Insurance, Life Insurance, Savings, Miscellaneous would be relatively easy. But is that a good responsible decision? What would you cut after those items, and make it through the month?
Depending on the region you live in, what would you consider a livable wage in today environment? What should the minimum wage be?
The minimum wage in California is about $8.50 I think. It was just recently raised, and IMO has really hurt the job market. I have applied to about 20-30 places this summer and have not been able to find a minimum wage job.
Interestingly, my econ teacher said that the minimum wage during the industrial revolution in England was actually meant to keep women out of the workforce. I could actually see this.
The Fed should not be setting the minimum wage at all. It's unconstitutional, and they can't deal with regional cost of living differences.
As to the states, it would be legal (unless their constitution prohibits it), but is it wise? Mandating and artificial minimum wage has kept real wages down. But, now that it's implemented, it would be almost impossible to do away with it. But every time you raise it, you hurt the job market and accelerate inflation, which hurts everyone, including the one who just got the raise.
So, since we have it and can't do away with it, turn it over to the states instead of the Fed and tie it to the poverty level, with exemptions for teens and tipping industries.
Minimum wage is +/- $7 per hour, times 40 hours equals $14,560 annually. Say the spouse also works and makes another $14,560 annually. That is $29,120 annually. That is barely sufficient to cover housing and food. Could you live on $29,120 annually?
If you had to make a decision what would you cut from the list? Health Insurance, Life Insurance, Savings, Miscellaneous would be relatively easy. But is that a good responsible decision? What would you cut after those items, and make it through the month?
Depending on the region you live in, what would you consider a livable wage in today environment? What should the minimum wage be?
A person wouldn't necessarily have to do away with any of those things, but....
A family could easily live off 29k. They won't have a split level in the 'burbs, nor will they drive new cars, nor will they fly across country, nor will they eat out often (including fast food)... a person might even have to do without cable, needless excursions in the car, "retail therapy" (an annoying concept)... they might have to keep the lights turned off in rooms they aren't in at the time.... things like that....
They would have to do all this away from any kind of coast line, maybe in a smaller metro area, or even a small town. Small towns sometimes can be expensive from a shopping perspective. Of course, there's Wal-Mart, but don't get me started on that one...
In my area, there is plenty of affordable housing in ok areas. No, not the trendy, soccer-mom areas with the award-winning schools, but certainly not bad areas, either. I'm talking 50-80k. There's also lot's of thrift stores, outlet stores, farmer's markets, etc., where things are very affordable.
A person couldn't live like the typical American spoiled brat, but they could survive just fine.
Too high of a minimum wage could be a strain on small business employers, who might rely on teenagers for a lot of their work force. Think.. the locally owned ice-cream stand, not necessarily the local Wal-Mart.
Santa Fe's Minimum Wage is $9.50 Its the highest minimum wage in the country!
Its going up to $10.50 soon, so other cities that are raising there's wont compete!
hahaha
My husband is retired and gets about $2,000 mo. from Social security.We have 2 teens still living at home. I was always a stay at home mom so 3 years ago the only jobs I could find were min.wage...so add another $1,000 mo. and that comes to 36,000 a year. No we really can't live on that. I have no health insurance, we had to sell our house 3 years ago as we could no longer pay the mortgage. We really scrimp on food and clothes and our cars are 11-18 years old. We were never able to invest or save anything before he retired because we had 7 kids and that took every cent.Once the youngest child is 18, the S.S. drops down to about $1,400 which really scares me because at that point I will be 61 and he will be 71 and at those ages I don't see how we will be able to bring in any extra. Of course the REALLY scarry part is when I'm too old or sick to work and we have to survive on $1,400 mo.
Last edited by Ann in Oriental; 08-03-2008 at 04:04 PM..
There should be no minimum wage. A person should get what they qualify for. I have had people that worked for me that are not even worth $1.00 an hour. Others have been priceless and to keep them working for me I had to give them what they were worth or they would leave me.
Santa Fe's Minimum Wage is $9.50 Its the highest minimum wage in the country!
Its going up to $10.50 soon, so other cities that are raising there's wont compete!
hahaha
I heard now every buisness that have under 15 empolyees have to pay the whole $9.50 now is that true?
I heard now every buisness that have under 15 empolyees have to pay the whole $9.50 now is that true?
Yes, that is correct even if you only have 1 or 5 workers they would still have to pay the full $9.50 now i think they did that like in april..
haha
the council has approved the messure to raise it to $10.50
it just needs to be overlooked by the minimum wage allance and the mayor for approval..and same thing about those damn red light camers ahhaha
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