reasonandempathy: dontfollowmeplea: reasonandempathy: Federal Minimum Wage Per Year: $15,080 Gross A
reasonandempathy:dontfollowmeplea:reasonandempathy:Federal Minimum Wage Per Year: $15,080 GrossAfter Taxes: $13,926.38, $1,160.53 per month.Now, let’s do some basic numbers here. Let’s subtract the median or mean (depending on data access) costs for necessities from this.Median rent in the USA: $959/month. $11,508/year.Average rent for studio in the USA: $1,135.78/month. $13,629.36.That’s $11,208 in rent. The cheapest place to live (Wichita, Kansas) has an average rent of $470 Or $5,640 a year. If you were to limit it to cities specifically (hence having drastically lower fuel and transit costs), a 1-bedroom apartment would be $1,234.43.Now, “why get a 1 bedroom when you can get a studio?” is a decent question to ask. However, check out the link above. The average studio apartment costs more than the median 1 bedroom, and there is no median cost of a studio I can find in the US. Studios are also far more likely to be in cities than rural areas, so their simple locations lead them against being cheap.Unless you can bring me numbers on studio apartments, I literally can’t do that math. And the entire point of this is to actually use numbers and research.Remaining cash: $2,718.38.Theoretical remaining cash: $8,286.38Cheapest livable diet for one adult: $175/month, $2008/yearThe “thrifty plan”, the cheapest meal plan for an adult aged 19-50 is $175/month (slightly more for men, slightly less for women).Remaining cash: $410.38Theoretical remaining cash: $6,278.38Gas+Heating: $138.20/month, $1658.37/yearThe cheapest gas in the country is $2.25/gallon in Texas (i.e. not Kansas, so you’re either paying more for rent or more for gas.) The average gas consumption per driver is at a relative low of 656 gallons per driver (which can be aggregated to “adult not in a city and some adults in cities”). Using the cheapest possible gas in the country, you’re spending an average of $2.528 per gallon, or $1,658.37/year. Texas will cost you $1,476 per year.Remaining cash: $-947.99.Theoretical remaining cash: $4,620.01All told, from just those three costs in the best, impossible context you’re spending at least $10,459.99 a year. In all actuality, you’re probably spending about $15,174.37. That’s without ever once spending more money on food than you need, never once having your car break down or getting rear ended, and if the average price of gas never goes up an entire year.Let’s presume you managed to somehow sneak in a house to avoid paying rent, and actually making a smart economic decision to try to own something. Using the median numbers from 2013 (published in 2015) we come up with how much it actually costs to have a place to live for a year, utilities included.Real Estate Taxes: $150 per month or $1,800 per yearProperty Insurance: $63 per month or $756 per yearElectricity: $111 per month or $1,332 per yearNatural Gas: $50 per month or $600 per yearDrinking Water: $42 per month or $504 per yearTrash / Garbage Disposal: $23 per month or $276 per yearRoutine Maintenance: $33 per month or $396 per yearAdd it all up and you get $20,838 a year. This is not including internet or a phone. Now, I know, we’re using Median numbers instead of “literally the cheapest option possible”. So let’s cut all these numbers in half to get a more “bare bones” estimate.$18,006 a year.And that’s if you have nothing go wrong and no social life. If you never go to the doctor, if you never get sick, if your hot water heater never breaks, if your car never gets dinged or breaks down, if you don’t pay for a car inspection, if you have no internet or phone, if you don’t buy toiletries or clothes (honestly, finding “median numbers” on these or “lowest possible spent” on these is unreasonably difficult, so we’ll presume they’re free),if gas never gets more expensive, if your rent never goes up.As much as I hate it, hate the truth of minimum wage not being enough, it’s even less if the minimum raises. Because in order for business to pay the raised cost, they have to rais their prices to keep the same profit. Even if they do that only enough to keep profit the same, They are really earning less profet because the things they could afford before, they can no longer afford… A lot of small businesses have already had to close up shop because they weren’t getting a high enough profit after paying emplyees, product delivery and all the other costs… Sadly, raising minimum wage won’t work the way we want it to.Serve raised the minimum wage numerous times. It doesn’t work like thatIt depends how high you go.Wages go up naturally, regardless if the government does it or not. I always challenge the idea of Min. Wage with the notion of the penny wage.If employer was hiring people at a penny an hour, would anyone take that job? The answer is no. People are not going to work that low of a wage, they will take a job and a wage that works for them because people gain human capital.That said, the min. wage being raised can have very little effect over natural wages if they are not done enough, so people will be above that Min. Wage even with inflation etc.Raising it to $15,$30, right now may not do anything, but they might also end and remove jobs, and give employers more wiggle room when finding the best workers for the job.Also, it’s just an overall fucking racist policy since it’s birth. Blacks have suffered because of Min. Wage, so I don’t see why raising it will be a good idea. -- source link