There has been lots of talk in politics and amongst angry employees about the much needed minimum wage increase. However, it still has not happened and there are many people who are currently working for less than $40,000 per year, which is roughly $20 per hour. Now, about ten years back, $20 per hour could be considered a fairly comfortable middle class salary. However, with the rising prices for rent and everything else, this $40,000 per year is the same as saying that you are living in poverty. These days $40,000 per year is just enough to afford a crappy studio without facilities in a crappy neighborhood. You hardly have any money to pay your basic expenses after paying rent.
Although minimum wage increase to $15/hr is a great goal, the truth is $20/hr should be the new minimum standard. I feel that if an individual is working full time, they should not be forced to live with roommates because they cannot afford to pay their rent. Well, I guess the greedy corporations and the corrupt government do not care much about the needs of the average citizen and just care about their own profits. The people who work hard to serve these organizations apparently do not deserve to have their needs met and live with some sort of dignity and self-respect.
In this case my best advice to anyone out there who is looking for a minimum wage increase would be to either head back to school or start their own business. It is not smart to rely on anyone other than yourself to promote you or to make things happen for you. Only you can do that through hard work and determination. Although some people may have fallen into depression or given up, this is not an excuse. If your life situation is tough, there is a good chance that someone out there has it tougher and you may have to sleep less hours and work overtime to achieve your financial goals. Many people complain about their lives, but refuse to do the hard work that it takes to really be successful.
The other part of it is that no matter how high your current salary is, once you retire, the government will at most pay you $1500 monthly. This will hardly cover your rent, let alone anything else. So even at the age of 67, you may find that you still have to work just to survive. Unless somehow you have managed to come up with lots of savings, won the lottery, married rich, or started a successful business.
Here are some websites that provide information about the minimum wage increase:
This page lists all the pros and cons of increasing the minimum wage.
Here you can find a chronological list of minimum wage increase history for each state and also some information about the future scheduled wage increases.
You can read about the legalities of minimum wages on this page.
This article discusses the potential effects of increasing the minimum wage. The article sites much job loss as a con of enacting this idea. However, I think that while some jobs would be lost, there is enough demand for jobs where companies can afford to pay employees a reasonable wage based on the current standard of living. Any business that thinks that an employee can survive on anything less than $20 per hour is delusional and likely has some sort of legal/management issues that need to be looked at. The truth is that the CEOs of these businesses can afford to buy less diamonds for their girlfriends and their mistresses, so that the average worker can pay their rent and other life necessities. I think that if you tried to live on less than $20 per hour, you would not last very long. So I think that businesses and the government either need to regulate prices or need to pay people reasonable wages so that they can understand why they are working to begin with.
This page tracks the minimum wage by state.
This page provides all sorts of information about the minimum wage increase.
This page provides legal information about the minimum wage in New York State, allows you to calculate your salary, and file a complaint if necessary.
This article talks about how a minimum wage increase does not necessarily have an impact on high quality restaurants, but does help to put the mediocre restaurants out of business. Well, I say out with the old and in with the new. The American economy is all about competition and you do have to deliver superior value to survive. Nothing wrong here.
This article discusses how a decent minimum wage should be made law so as to keep the balance of power between the employers and low wage employees. It seems like if the minimum wage is too low, these restaurant owners and such feel that the workers are their slaves and that they can do whatever they want with them.
This article provides empirical evidence that increasing minimum wage to $15/hr is a terrible idea because it would not increase employment. I think anyone who is writing such articles needs to try living to the current low minimum wage and see how they like it. It is easy to run a bunch of pointless studies and make stupid graphs that mean nothing. However, when you are living to poverty only at that time you can fully understand what its like.
This article is trying to make a point that economics should not be mixed with emotions and the numbers say that increasing the minimum wage to $15/hr is a bad idea because small businesses will have to close down or cut jobs to cut costs. I doubt this is what will happen. They will just have to be less greedy and self centered. That’s all. I also think that economics should have everything to do with emotions, as it is inhumane to have someone work for less than $20/hr in this economy.
This article provides a list of 21 states that have increased the minimum wage recently.
This is another article focusing on how it would hurt some less fine restaurants if the minimum wage was raised to $15/hr.
Well, I am going to provide a list of links that also discuss the minimum wage increase: