Min Wage versus Cost of Living 1970 to 2018

Discussion in 'Economy' started by Daryl Hunt, Jun 12, 2019.

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Would You Support a Consumer Panel to Protect the Comumer against Aggressive Cost of Living?

  1. Yes

    15.4%
  2. No

    84.6%
  1. Supposn
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    Supposn VIP Member

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    Markle, excerpted from your thread, “What is the average household income where one worker earns the minimum wage?”:
    Respectfully, Supposn
     
  2. Markle
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    Markle Gold Member Gold Supporting Member Supporting Member

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    The question remains the same.

    “What is the average household income where one worker earns the minimum wage?”
     
  3. Supposn
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    Supposn VIP Member

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    Markle, because how many, or what percentile of U.S. employees earn precisely $7.25 per hour is of no consequences, your question and its answer is inconsequential. Respectfully, Supposn
     
  4. Markle
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    Markle Gold Member Gold Supporting Member Supporting Member

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    It is extremely consequential. The point as you know is that the vast majority of people earning minimum wage are kids, living at home, as a first part time job.

    My first "real" job was as a bagboy for below minimum wage. $0.85 per hour, plus tips. It never entered my mind that I should be able to support a family on that pay. Granted we made 8 to 10 times that or more in tips.

    Federal minimum wage should be zero.
     
  5. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    Subscribe to BLS Reports
    Article PDF
    Characteristics of minimum wage workers, 2018
    [​IMG]
    In 2018, 81.9 million workers age 16 and older in the United States were paid at hourly rates, representing 58.5 percent of all wage and salary workers. Among those paid by the hour, 434,000 workers earned exactly the prevailing federal minimum wage of $7.25 per hour. About 1.3 million had wages below the federal minimum. Together, these 1.7 million workers with wages at or below the federal minimum made up 2.1 percent of all hourly paid workers.

    Characteristics of minimum wage workers, 2018 : BLS Reports: U.S. Bureau of Labor Statistics


    The bottom 2.1% of earners......it's obviously an emergency. Our economy depends on making sure the poorest workers can raise a family and buy a home, with little or no skills.

    Of course booting millions of low skilled illegals would actually help low-skilled Americans.
    I wonder if he's in favor of that action?
     
  6. Markle
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    Markle Gold Member Gold Supporting Member Supporting Member

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    Advocating a Federal minimum wage is just off the rails. It makes no sense, whatsoever. A Federal minimum wage is saying that the cost of living in Gainesville Florida is the same as in New York City and Los Angeles California.

    If a city or state wish to hang that albatross around their own neck, that's up to them.
     
  7. Supposn
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    Supposn VIP Member

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    Markle, excerpted from your thread, “What is the average household income where one worker earns the minimum wage?”:
    Markle, a single digit percentage of USA employees are "extremely consequential", but 10, or 20, or 40 percent of USA employees are less consequential?
    Respectfully, Supposn
     
  8. Supposn
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    Supposn VIP Member

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    Markle, I’m among those that advocate it be gradually increased until it reaches a 125% of its Febuary-1968 purchasing power and thereafter be annually monitored and (if required), adjusted to retain that targeted purchasing power.
    Until the federal minimum rate is changed, or repealed, or deemed by the U.S. Supreme Court to be unconstitutional, we and others such as you who' are opposed to the current federal minimum rate must abide by the current federal minimum rate of $7.25 per hour, as determined by a U.S. Congress and president.

    Respectfully, Supposn
     
  9. Supposn
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    Markle, local political jurisdictions’ and/or their states’ economies can and often do net benefit from higher wage rate states, but lower wage states are economically of some net detriment to U.S. higher wage states. This is particularly the case between adjoining states.

    The federal minimum rate is not a the uniformly effective minimum rate throughout USA’s 50 states, but they are not permitted to undermine the federal mineral rate with a lesser rate; it’s not as its opponents claim, “one rate to fit all”.
     
  10. Toddsterpatriot
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    I’m among those that advocate it be gradually increased until it reaches a 125% of its Febuary-1968 purchasing power

    That's a stupid idea.
     
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