Have the lives of minimum wage earners improved? (purchase, company, tax)
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For those still doing the same work, depends on housing. If they own or have stable rent, real income up a lot, if they got a huge rent hike, down. Person to person. The big winners were those who were in low wage jobs pre-Covid and used the tight labor market as a springboard to move on to better paying work entirely.
What aLoC said above. It mostly depends on housing. And childcare if needed.
It might help to clarify are we speaking of legally mandated minimum wage (7.25 in TN) or prevailing fast food wage - $12-15.
or food delivery people or uber lyft at a 30 dollar an hour wage in nyc
New York City's rule allows apps to either pay around $30 an hour on average for the “active time” workers spend delivering orders, or $18 an hour on average for the entire time they are logged in, including “passive time” spent waiting for a job
NDak15, our federal minimum wage rate (to some extent) prevents lower wage states from undermining the labor markets of other states in the USA. To the extent that the federal minimum is an insufficient wage rate and is not kept abreast with the purchasing power of the U.S. dollar, it fails to fully support our national and our individual states' wage rates.
The extents of employees' benefits due to their governments' minimum hourly rate laws, are inversely related to the differences between the rates they're paid and the legal minimum rate. Those paid more proportionally benefit less, those paid less proportionally benefit more. But minimum wage laws aren't detrimental to any employees or employees' dependents.
All USA employees and their dependents financial conditions would be more improved if the federal wage rate would incrementally be annually increased until it attained 125% of its Febuary-1968 purchasing power and thereafter annually adjusted as to fall below that purchasing power.
No USA employees or employees' dependents are detrimentally affected by USA's minimum wage rates laws and all lower and middle wage earners benefit due to those laws. Respectfully, Supposn
Raising the minimum wage has resulted in more inflation, reduced hours, and even layoffs, since that money has to come from somewhere. The goal of any business is to make a profit, not to provide a good income for people. Those who are doing well financially are being paid for their value to the company, minimum wage jobs are those that most anyone can do with minimal experience or skills.
I agree. "Minimum Wage" is, or was, considered a starting point, not a life style sustaining income level. In "my day", most of the minimum wage jobs were held by high school students, as a "pocket money" endeavour.....
Raising the minimum wage has resulted in more inflation, reduced hours, and even layoffs, since that money has to come from somewhere. The goal of any business is to make a profit, not to provide a good income for people. ..
What about the CEO's and board of directors of these companies that make exorbitant multi-million dollar salaries and reward themselves with big bonuses every year? Doesn't that money have to come from "somewhere" also? Doesn't it all come out of the same pot? Are you saying that doesn't effect anything, it's just what they are paying the poor peons at the bottom that matters?
It's funny that we don't ever have a problem with all the money being funneled to the top, but people don't like it when the bottom wage earners getting paid more. Instead, we will ALL pay more to the masses who have figured out that it pays more and is way less hassle to go get onto food welfare and food stamps than to struggle in a low pay minimum wage job.
And for those that think "burger flipping" is easy, leave your cushy paper pushing cubicle job for about a month and go work a full time job at your local fast food establishment and see how you like it.
I don't work as a burger because I've done in high school. It's hard work with awful pay. I never said it was easy. Why do some people stay a burger flipper for years and years then? No one should expect to comfortably raise a family and buy a house working on minimum wage.
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