View Poll Results: Can you live on Minimum Wage

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  • Yes

    30 40.54%
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Thread: Can you live on Minimum Wage

  1. #211
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    Re: Can you live on Minimum Wage

    Quote Originally Posted by OscarB63
    if MW is raised across the board...the vast majority of employers are going to increase prices to offset higher payroll (or they cut back on employees or hours, etc) and that is going to offset much, if not all, of any benefit the MW earner would gain from a higher wage. maybe I'm too cynical...but i don't see very many employers "eating the cost' of paying a higher MW. someone other than the employer is going to pay that cost and it is usually the consumer. and higher consumer costs always hurt those that make the least the most.
    Of course they will raise prices, but you also have to account for the fact that labor is not 100% of business' costs. If you raised minimum wage from 5 to 6 dollars, a 20% increase, you won't see prices to consumers raised an equal 20%. You may see it raise 3-6% on average. They can pass on the effect of the wage increase and have approximately the same profit margin without it looking like they lost their damn minds overnight.

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    Re: Can you live on Minimum Wage

    Quote Originally Posted by OscarB63 View Post
    percentages don't stimulate the economy...actual dollars do.

    90% of 20K will not stimulate the economy as much as 15% of 200K
    Now compare how many people in the country make closer to 20K and 200K and you will understand what I was talking about.
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    Re: Can you live on Minimum Wage

    Quote Originally Posted by Zyphlin View Post
    Clearly, the answer is to force employers to pay people more.....NATURALLY they'll just go "Shucks, alright, guess I'll just have to pay everyone more" and not in any way shape or form look to find a way to mitigate the cuts by either cutting back on hours, cutting back on employees, cutting back on promotions, cutting back on benefits, or some other manner of pay roll re-organization to account for the new required amount of payroll expenditures. That of course wont' have ANY affect on the problem already present in terms of the lack of jobs available.
    There is no record of national employment going down each and every time national minimum wage was increased. Economists say that it would also stimulate the economy so there is more demand for producers. Seems a much better alternative to me to than taxpayer funded welfare.
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    Re: Can you live on Minimum Wage

    Quote Originally Posted by Catawba View Post
    There is no record of national employment going down each and every time national minimum wage was increased. Economists say that it would also stimulate the economy so there is more demand for producers.
    And it likely wouldn't be since our minimum raise increases have been few and far between and incremental...a far cry from the call for changing it right now to a "Living" wage. Such as the $12 number thrown out earlier in this thread as a possibility.

    The modern minimum wage began in 1978 at $2.65

    Over the next three years it increased $.70 cents, with increases of 25, 20, and then 25 cents.

    It then didn’t increase for another 9 years at which point it went up $.45 in consecutive years.

    It went up $.50 five years late and $.40 the year after.

    Ten years after it jumped $.70 over three straight years.

    It should be noted, the last two years of those record jumps we absolutely DID lose substantial jobs in the market. I am not claiming this to be a direct response to the hike in the minimum wage, but at least in recent history there absolutely is a record of employment going down at a time when the minimum wage is substantially increased.

    Still, those “Substantial” increases are collectively all lower than a dollar in a particular year, with only ONE prior to 2007 being greater than fifty cents.

    That’s an increase of $4.60 over a THIRTY FOUR year period. That’s an average increase of $.13 and a half cents a year.

    On the flip side, bumping to a “living wage” such as was described in this thread…say $12….is a $4.75 dollar increase. Seemingly desired to occur in an immediate fashion. And that number was thrown out there with a statement that it may likely not be enough.

    Yes, an occasional increase of $.25 every few years or around a dollar every decade is not likely to significantly impact the job market in a significant way. However, incremental updates to the Minimum Wage is a staggeringly different situation than a significant spike in an attempt to create a “livable wage”. What you’re attempting to do is move the goal posts by referencing historical data on the Minimum Wage while ignoring the fact that what is being called for is unquestionably an entirely different animal than those historical actions.

    An increase of $.15 cents an hour is not going to have the same impact as a $4.75 dollar and hour increase. That’s common sense. Attempting to compare them is ridiculous

    Seems a much better alternative to me to than taxpayer funded welfare.
    Only when one is functioning under the premise that the only two actions possible to be taken are increase tax payer funded welfare or institute government mandated increases to wages. Sadly, despite your desire to convince people the world you fabricate in your mind is reality, it's not and our answers are not only the "A" and "B" option you provide.

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    Re: Can you live on Minimum Wage

    Quote Originally Posted by Zyphlin View Post
    our answers are not only the "A" and "B" option you provide.

    Perhaps I missed something in the last 60 years, what other plan has been put forth?
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    Re: Can you live on Minimum Wage

    Yes, you can LIVE on minimum wage. You wont have a nice house, nice car or anything really nice for that matter, but it can be done easily. The reason people here in the states feel they can't live on minimum wage is because they THINK they need a car, big house, big TV and don't want to cook for themselves so they feel they need to eat out every day. I have been all over the world where people live on $60 a month. It can be done, we just don't have the discipline to do it here because we are materialistic and wasteful people.
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    Re: Can you live on Minimum Wage

    Quote Originally Posted by Catawba View Post
    Now compare how many people in the country make closer to 20K and 200K and you will understand what I was talking about.
    throw in the number of people who make millions and you'll see how stupid it is to argue % instead of actual $$$ spent
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    Re: Can you live on Minimum Wage

    Quote Originally Posted by OscarB63 View Post
    throw in the number of people who make millions and you'll see how stupid it is to argue % instead of actual $$$ spent
    The people who make millions don't spend as much of their income as does the working class, that's why the economy is not recovering very quickly.
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  9. #219
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    Re: Can you live on Minimum Wage

    Of course you can live on minimum wage, you may just have to work more than 40 hours per week though. It's possible where I live to rent out a studio apartment for roughly $400-500 per month in rent. If you work 40 hours a week at $7.25 per hour I would say you could probably budget and manage to live with that income.

    Will you be able to afford a large apartment with a smartphone, cable TV, high speed internet and a newer car? Most likely not. One of the problems with the "living wage" concept is that people think they are owed such things and that these need to be factored into what constitutes as "livable."
    Last edited by digsbe; 12-19-12 at 08:16 PM.
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    Re: Can you live on Minimum Wage

    I can survive on minimum wage ( i can survive on no income)... but I can't live on minimum wage.

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