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TOPIC: Survival on minimum wage
Created by: Nkenswing
Original Starting post for this thread:
About 3.6 million Americans were earning at or below the federal minimum wage of $7.25 an hour in 2012, and those weren’t all high school students flipping burgers.

About half of them were 25 or older, a little more than one-third were working full time and a little less than three-fourths had graduated from high school, according to the most recent government data.

A person working full time for minimum wage would take home an annual salary of $15,080. That’s a shade higher than the poverty threshold for a household containing two adults, and about $8,000 less than the poverty line for a family of four.

These are the workers who answer your customer service calls, deliver your pizzas, take care of your children, bag your groceries and serve your food.

President Barack Obama has called on Congress to give them a raise by increasing the minimum wage to $9 an hour by 2015.

Liberal-leaning economists say the move would help millions of workers without better prospects pay their bills. It would also pump more money into the economy through higher consumer spending, they argue.

“Unfortunately, for far too many people, the ladder that they’re on doesn’t have a whole lot of rungs,” said Doug Hall, director of the Economic Analysis and Research Network at the progressive Economic Policy Institute.

But conservative thinkers argue the move would hurt both the economy and low-wage workers. They say employers would have to cut benefits or jobs so they could afford to pay the higher wages to remaining employees. Some say the minimum wage already keeps people out of a job.

“There (are) the people who are already working and are getting the minimum wage, and there’s the other group of people who are not working because of the minimum wage,” said Mark Perry, a scholar at the conservative American Enterprise Institute.

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But I don't have any tattoos.

Hazle Township PA
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"it's that new "Kick Me" tattoo that he got on hs back.... "

LOL.

Pittsburgh PA
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My bad. It still won't be alot of money in 2015 when he wants it at nine bucks an hour.

Pittsburgh PA
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NK...

it's that new "Kick Me" tattoo that he got on hs back....

Milwaukee WI
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Obama is only talking about raising it to nine bucks an hour. Which in 2013 is still not alot of money.

And I still stand by my statement that consumer demand is what sets the price not wages. If nobody wants to buy your product or service you lose no matter what the labor cost.

Pittsburgh PA
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I guess there were still gas station attendants in 1968, when minimum wage reached it's highest point. If that $1.60 had kept up with inflation, it would be about $11 now.

In equivalent 2013 dollars, the minimum has bumped along between $6 and $8 for most of that time. Raising it to *almost* make up for erosion to inflation, there's no correlation at all with bumps in the unemployment rate.

Lyndon Johnson's Great Society movement ended in 1968. We then had Republican presidents for 20 of the next 24 years. Now it's considered OK for company owners to keep almost all of the revenues.

Flat Rock NC
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Man, go away for a couple days, come back and Robert's still getting bashed...

Pittsburgh PA
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Mark, that was one of my first jobs. Was pumping gas and oil changes while I was in high school.

Berryville VA
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Out: You are old enough to remember the gas station attendants that used to be at every gas station. No one pumped their own gas. It used to be a first job for many young men. Then minimum wage went up and up. Now you don't see them. And if you do it is at a full service pump with the gas prices upwards of 25 cents or more per gallon; to pay for the price of labor.

Tulare CA
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"And yes, while it causes some wages to up, it does cause unemployment and damage business and thus the economy. This is well accepted among economists."

VB, do you have any evidence that raising the minimum wage causes unemployment? Because I have looked, and I haven't seen it.

If raising the minimum wage causes unemployment, could you argue for lowering the minimum wage? Would that be win-win-win?

If so, is there any limit to how low it should go? We might approach 0% unemployment if people got $1 an hour?

Flat Rock NC
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TOPIC: Survival on minimum wage