$50 is decent. It’s a living wage. It is not exorbitant and there’s plenty of incentive for workers aiming higher.
One of my most hated “arguments” is the notion that “well, I’m an experienced worker and I’ve only made $15/hr forever. Therefore I will actively fight against raising wages because my wages were always low”. What self-defeating bullshit. If the minimum wage had been indexed to anything having to do with cost of living for the last half century, $50 would be about right.
That’s exactly it. Cost of living has outpaced wages for 50+ years. $100k might sound like a “made-it” salary, but it’s actually not that compared to buying power of previous generations.
My sister and her husband make $65k a year each and they’re living paycheck to paycheck. If $130k a year doesn’t pay for a mortgage, car payments, and raising your kids, what are we even bothering for?
You’re right, but also that number could be $180k and I doubt you’d see much difference, they’d have more expensive cars, maybe a nicer house, and take a fancy vacation but still be at the same place at the end of the month.
Not to detracg from the cost of living crisis, just that some of it is simply the lifestyles we choose to spend on
Have you tried living off $9.24 an hour? That’s about $370 a week before taxes.
Average rent in the US was $1372 a month 2023, which means just buying power isn’t enough to figure this out. Many people who already own property miss the fact that it’s largely impossible not to rent forever for anyone born after 1990, and extremely hard for anyone born after 1980 (on average – it differs for cheaper areas, which won’t be cheaper for much longer based on trends).
I’d argue we have multiple factors. Inflation is a huge one, but cost of living has in many ways outpaced inflation. Those two alone are additive, which is why even the current California minimum wage of $15.50 is not enough.
Let’s leave it as an amorphous amount for now, and I’ll ask a different question: what about a potential $50 minimum wage upsets you? What makes that a bad idea, in your view (and if you don’t believe it is, apologies in advance!).
Most major inflation indices omit things like the cost of food and housing. So, they are only marginally useful in looking at the financial experiences of the populace.
Sounds insane until you consider the purchasing power of the dollar over the last few decades. These boomers railing against wave hikes cause they retired in 15/hour would have effectively been making 70 or more today. You need a 6 figure salary today to enjoy a life comparable to what your grandparents or great grandparents enjoyed on a single salary bringing home 10/hour
$50 is decent. It’s a living wage. It is not exorbitant and there’s plenty of incentive for workers aiming higher.
One of my most hated “arguments” is the notion that “well, I’m an experienced worker and I’ve only made $15/hr forever. Therefore I will actively fight against raising wages because my wages were always low”. What self-defeating bullshit. If the minimum wage had been indexed to anything having to do with cost of living for the last half century, $50 would be about right.
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I make $100 k / year in the bay area, and I am fucking poor. It’s dumb.
That’s exactly it. Cost of living has outpaced wages for 50+ years. $100k might sound like a “made-it” salary, but it’s actually not that compared to buying power of previous generations.
My sister and her husband make $65k a year each and they’re living paycheck to paycheck. If $130k a year doesn’t pay for a mortgage, car payments, and raising your kids, what are we even bothering for?
We’re overdue for a demonstration, nationwide.
You’re right, but also that number could be $180k and I doubt you’d see much difference, they’d have more expensive cars, maybe a nicer house, and take a fancy vacation but still be at the same place at the end of the month. Not to detracg from the cost of living crisis, just that some of it is simply the lifestyles we choose to spend on
deleted by creator
Have you tried living off $9.24 an hour? That’s about $370 a week before taxes.
Average rent in the US was $1372 a month 2023, which means just buying power isn’t enough to figure this out. Many people who already own property miss the fact that it’s largely impossible not to rent forever for anyone born after 1990, and extremely hard for anyone born after 1980 (on average – it differs for cheaper areas, which won’t be cheaper for much longer based on trends).
I’d argue we have multiple factors. Inflation is a huge one, but cost of living has in many ways outpaced inflation. Those two alone are additive, which is why even the current California minimum wage of $15.50 is not enough.
Let’s leave it as an amorphous amount for now, and I’ll ask a different question: what about a potential $50 minimum wage upsets you? What makes that a bad idea, in your view (and if you don’t believe it is, apologies in advance!).
deleted by creator
Most major inflation indices omit things like the cost of food and housing. So, they are only marginally useful in looking at the financial experiences of the populace.
Sounds insane until you consider the purchasing power of the dollar over the last few decades. These boomers railing against wave hikes cause they retired in 15/hour would have effectively been making 70 or more today. You need a 6 figure salary today to enjoy a life comparable to what your grandparents or great grandparents enjoyed on a single salary bringing home 10/hour
deleted by creator