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interactive map:
https://www.citylab.com/life/2015/09...living/404644/
http://www.pewresearch.org/fact-tank...-minimum-wage/Adjusted for inflation, the federal minimum wage peaked in 1968 at $8.68 (in 2016 dollars). Since it was last raised in 2009, to the current $7.25 per hour, the federal minimum has lost about 9.6% of its purchasing power to inflation. Back in 2015, The Economist estimated that, given how rich the U.S. is and the pattern among other advanced economies in the Organization for Economic Cooperation and Development, “one would expect America … to pay a minimum wage around $12 an hour.”
interactive map:
https://www.citylab.com/life/2015/09...living/404644/
hasn't kept up with inflation:
has decreased since 2009:
One time jolt to GDP, ballooned the deficit, enabled a tsunami of stock buybacks. if capex continues to slow, the GDP growth won't be sustainable.
of course tax cuts have an effect, but they don't drive the business cycle.
nope, most of that money was spent on stock buybacks (enriching Capitalists), not on investment, and simply pocketed by wealthy who have more wealth than they can ever spend.
meanwhile, real wages earned by Real Americans remain essentially flat, while Real America plunges deeper debt into 20%+ APR household debt that is higher now that 2007.
low unemployment?
Ms of those so-called jobs are part time (when the worker wants full time), dead end jobs, no benefits, no vacation, paying poverty wages, enslaving people to financial precarity and paycheck-to-paycheck scraping by.
and oh year, America, the richest country in the universe, EVER, should compare its Federal minimum wage with the rest of the planet?
Goddamn, you rightwingnutjobs, are ALL ing stupid and ignorant
Last edited by boutons_deux; 02-09-2019 at 03:26 PM.
I really think minimum wage needs to be looked at regionally. Impact from inflation can't be assumed to be equal everywhere. Big cities, certainly, but rural towns with one grocery store and a few restaurants wouldn't be able to handle $15/hour. It's a small business killer in a lot of places.hasn't kept up with inflation:
I quite agree with you. One size fits all solutions create more problems.
regional and (inter) national CoL adjustments have been done for decades by corporations.
Even now, a job in SFO/NYC pays more than same job in in medium sized cities
The companies that refuse to pay $15 - $20 hour are heavily subsidized by taxpayers who top-up incomes of their poverty-wage employees with public assistance, aka, The Safety Net
iow, the "external costs" of poverty-wage labor used by businesses is paid by taxpayers.
aka, socialism. Taxes "confiscated" under pain of prosecution and given to businesses.
Last edited by boutons_deux; 02-09-2019 at 06:42 PM.
add fair wages to the list of things we can't afford:
def sad. both sides of the aisle ing suck!add fair wages to the list of things we can't afford:
$10.10 would have been a fine minimum wage. Then you index it to inflation or cost of living so it gets adjusted annually maybe do something where it's $1 or so more for larger businesses. Give small businesses an advantage for once. $15 is Looney Tunes.
Last edited by AaronY; 02-09-2019 at 06:52 PM.
Cost of living adjustment is paramount in my opinion. I might even adjust $10.10 down in some places.
Right-wing nutjob
Democrats tend to be the party/movement of change. Positive times or prosperity isn't so effective to their platform
I agreed with him, bird-brain.
where can a single person pay rent, phone, food, gas, car/health insurance on $20K / year, assuming $10.10 is paid for 2000 hours/year, rather than typically part time.
Trump is feeding the delusion that the economy is working — and the corporate media is helping him sell it
What was ignored was how it has also grown increasingly more unequal and tilted to the rich since he took office, as the country sinks deeper and deeper into a miasma of long term multi-trillion dollar debt.
So, despite our life expectancy declining for the last three years,
one of the highest childhood poverty rates among the 36 member nations in the Organization for Economic Co-operation and Development, and
the most expensive and least effective health care system among western developed nations,
Trump would have us believe we are the envy of the world.
China has been growing exponentially faster than the United States.
The U.S. has struggled mightily to expand at all, even as the richest got an increasingly larger share of the nation’s wealth.
could there be a connection between our increasingly extreme wealth concentration and sluggish broad-based economic growth?
“Over the last twenty years the U.S. has had a hard time achieving economic growth . . .
and even though it is averaging two-and-a-half to three percent, part of the time . . .
to say that it’s the best in the world, that’s just a lie,”
“The real wages of Chinese workers, the average amount of money they got adjusted for inflation, has quadrupled in the last 12 to 15 years,”
“What happened to the average wage in America, adjusted for inflation?
It hardly budged.
It went up single digits,
not three to four times.”
Trump cast undo ented immigrants as the only shadow on American greatness,
he didn’t mention one word about
the nation’s growing wealth and income inequality which “is the starkest feature of American economic life in the last 40 years.”
ignoring the very real socio-economic deterioration that has now manifested after
decades of depressed and anemic wages.
has now mushroomed into
a full- blown affordability crisis that has tens of millions of working- class American households struggling every month to cover the basics.
https://www.rawstory.com/2019/02/tru...e+Raw+Story%29
Well for one thing there's no one saying you have to live by yourself when you're on minimum wage.
Secondly, that's definitely enough to get by in many rural towns. It's not difficult to find apartments for under $1000 rent, and those complexes are rarely at capacity. The trick is there are so few jobs in those towns already... something a $15 minimum wage would not fix.
$12000/year in rent, plus utilities, on $20K wages, gross?
There's term for that: (severe) "housing stress"
As America continues to urbanize, the depopulation of rural areas will make them unlivable, unless you're some rich asshole building a multi-$M mega-mansion in the Rockies, WY, MT, ID, UT, and probably for retirement.
yep, $15 or $20 / hour only works if there are jobs.
Great thing about these depopulating / underpopulated red states is that they have 2 Senators and can screw populated, liveable, mostly blue states. iow, The Cons ution
This is the closest you've came to a good post. Though you fu'd it in your normal way by the end.
Here in suburban FL (20 miles north of Tampa near the coast) there are tons of $6-700 apartments around me and I'm not in the sticks. also, these are minimum wage jobs. people still need to develop skills and makes themselves valuable. If your entire skill set consists of being able to make change or wave a sign on a roadside its partially your own fault you're not more successful (shocking concept i know). Learn a trade, become a plumber, carpenter, truck driver, etc.
Red flags emerge as Americans' debt load hits another record
Some red flags emerged for the U.S. economy late last year as
credit card inquiries fell,
student-loan delinquencies remained high and
riskier borrowers drove home automobiles,
the overall debt shouldered by Americans edged up to a record $13.5 trillion in the fourth quarter of 2018. It has risen consistently since 2013, when debt bottomed out after the last recession.
While mortgage debt, by far the largest slice, slipped for the first time in two years,
other forms of borrowing rose including that of credit cards,
which at $870 billion matched its pre-crisis peak in 2008.
one sign of consumer demand, credit inquiries, slipped in the second half of 2018 to the lowest level recorded
Another signal of weaker demand, the closing of credit cards and other accounts, jumped to its highest level since 2010,
while flows into serious delinquency for credit cards rose 5 percent, up from 4.8 percent in the third quarter.
Serious-delinquency flows, a warning bell for economists because they can prelude defaults, ed in the third quarter for student debt and
remained there in the fourth quarter,
with 9.1 percent of the $1.5-trillion total debt seriously delinquent.
https://www.reuters.com/article/us-u...2F+Top+News%29
Looks like America's "prosperity" is debt-financed, not equity-financed.
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