Minimum wage: how much is too much?

[Josh]

I will say this/ If you are going to have a minimum wage it should at the very least not raise faster than inflation.
A few years ago I did a quick check and based on their earliest figures I could find of minimum wage laws in 1963 if rates would have only increased at the average rate of inflation they would be under 9 dollars today. I believe ours are at #14.25 right now. Maybe $14.50, People are totally shocked when presented with that fact because that is now what they are being told.

You’ll be pleased to know America’s minimum wage isn’t indexed to inflation, so that means workers can get paid less and less in real terms as time goes on.

[Wade]

I will say this/ If you are going to have a minimum wage it should at the very least not raise faster than inflation.
A few years ago I did a quick check and based on their earliest figures I could find of minimum wage laws in 1963 if rates would have only increased at the average rate of inflation they would be under 9 dollars today. I believe ours are at #14.25 right now. Maybe $14.50, People are totally shocked when presented with that fact because that is now what they are being told.

I'm not sure how you calculated inflation? I said something to my dad when I bought my first house about trying to make ends meet and he saia to quit my whining. Then I asked my dad what was his wage was when he started working at the sawmill in the early 80's. He said $21/hr. That is the same as I was making in the sawmill when I bought my first house too. Then I asked him how much gas was then - under half the price. Then I asked why his house was a third of the price of mine. Then I asked how much milk was. All of a sudden he put his head down realizing he had it really really easy during his time.

What was also interesting is then I went and talked to my grandpa and what I found was that even at $0.25/hr when he started working his house price was about 6 times less in relation to wage as compared to us around 2006. But housing prices have more than doubled or tripled here since then and wages have not kept any close pace whatsoever.

These small inflation numbers are complete and utter rubbish.

[temporal1]

I will say this/ If you are going to have a minimum wage it should at the very least not raise faster than inflation.
A few years ago I did a quick check and based on their earliest figures I could find of minimum wage laws in 1963 if rates would have only increased at the average rate of inflation they would be under 9 dollars today. I believe ours are at #14.25 right now. Maybe $14.50, People are totally shocked when presented with that fact because that is now what they are being told.

I'm not sure how you calculated inflation? I said something to my dad when I bought my first house about trying to make ends meet and he saia to quit my whining. Then I asked my dad what was his wage was when he started working at the sawmill in the early 80's. He said $21/hr. That is the same as I was making in the sawmill when I bought my first house too. Then I asked him how much gas was then - under half the price. Then I asked why his house was a third of the price of mine. Then I asked how much milk was. All of a sudden he put his head down realizing he had it really really easy during his time.

What was also interesting is then I went and talked to my grandpa and what I found was that even at $0.25/hr when he started working his house price was about 6 times less in relation to wage as compared to us around 2006. But housing prices have more than doubled or tripled here since then and wages have not kept any close pace whatsoever.

These small inflation numbers are complete and utter rubbish.

your comparisons are easier to grasp than most, but i have a hard time coming to conclusions about apples to apples comparisons.
formerly, people were satisfied with so much less. it’s hard to compare. houses were less expensive, and were not as large or luxurious. little or no eating out. no tech gadgets. one family telephone for life.

my father used to say the FIRST families where women left the home to work part time or full time, those folks really had the opp to GAIN net worth. probably the 50’s. soon after, tho, the economy “adjusted,” today, most feel the need, not the luxury, of 2 income homes. or, single parents with lots of gov support.

unsecured credit has done untold damage. i think that began, late 60’s-70’s. people became accustomed to buying before having funds, and over-buying. the 2008 bank failures told that tale. buying big homes without accountability.

building codes pretty much prohibit true “affordable” housing.

there are many factors that make comparisons difficult.

i prefer to live with less income, AND lower cost of living. “less is more.”
but the world seems bent on the opposite.

[Josh]

temporal1,

I don’t have an option to live with “lower cost of living”. The prices for things keep going up.

Housing prices go up faster than how much I can save from our family budget, and I’m better off than most people. If house prices go up $100,000 a year (which is what they did in the last year here), how can a family making $50,000 a year afford to ever buy a house?

[temporal1]

temporal1,
I don’t have an option to live with “lower cost of living”. The prices for things keep going up.

Housing prices go up faster than how much I can save from our family budget, and I’m better off than most people. If house prices go up $100,000 a year (which is what they did in the last year here), how can a family making $50,000 a year afford to ever buy a house?

hey. i live in the same world, under $30K, no food stamps or other. homelessness is something on my mind fairly often. i do my best. i find i’m not a hot item in the job market.

[Soloist]

temporal1,

I don’t have an option to live with “lower cost of living”. The prices for things keep going up.

Housing prices go up faster than how much I can save from our family budget, and I’m better off than most people. If house prices go up $100,000 a year (which is what they did in the last year here), how can a family making $50,000 a year afford to ever buy a house?

The answer here is we will start living in tents moving from one city to the next as they drive us out. We will be modern day Rechabites.

[Wade]

I will say this/ If you are going to have a minimum wage it should at the very least not raise faster than inflation.
A few years ago I did a quick check and based on their earliest figures I could find of minimum wage laws in 1963 if rates would have only increased at the average rate of inflation they would be under 9 dollars today. I believe ours are at #14.25 right now. Maybe $14.50, People are totally shocked when presented with that fact because that is now what they are being told.

I'm not sure how you calculated inflation? I said something to my dad when I bought my first house about trying to make ends meet and he saia to quit my whining. Then I asked my dad what was his wage was when he started working at the sawmill in the early 80's. He said $21/hr. That is the same as I was making in the sawmill when I bought my first house too. Then I asked him how much gas was then - under half the price. Then I asked why his house was a third of the price of mine. Then I asked how much milk was. All of a sudden he put his head down realizing he had it really really easy during his time.

What was also interesting is then I went and talked to my grandpa and what I found was that even at $0.25/hr when he started working his house price was about 6 times less in relation to wage as compared to us around 2006. But housing prices have more than doubled or tripled here since then and wages have not kept any close pace whatsoever.

These small inflation numbers are complete and utter rubbish.

your comparisons are easier to grasp than most, but i have a hard time coming to conclusions about apples to apples comparisons.
formerly, people were satisfied with so much less. it’s hard to compare. houses were less expensive, and were not as large or luxurious. little or no eating out. no tech gadgets. one family telephone for life.

my father used to say the FIRST families where women left the home to work part time or full time, those folks really had the opp to GAIN net worth. probably the 50’s. soon after, tho, the economy “adjusted,” today, most feel the need, not the luxury, of 2 income homes. or, single parents with lots of gov support.

unsecured credit has done untold damage. i think that began, late 60’s-70’s. people became accustomed to buying before having funds, and over-buying. the 2008 bank failures told that tale. buying big homes without accountability.

building codes pretty much prohibit true “affordable” housing.

there are many factors that make comparisons difficult.

i prefer to live with less income, AND lower cost of living. “less is more.”
but the world seems bent on the opposite.

to give you a more clear comparison - my parents house was almost twice the size, 3 bedroom, 2 bathroom, on 5 lots, two big garages
my house was smaller 2 bedroom, 1 bath home on one lot, with a garage not big enough to hold our vehicle
we both had single income, one phone, one vehicle, no dishwashers, they had two fridges and a big chest freezer, we had a fridge, each had no dishwashers, they had a bunch of TV's - we had one, no eating out... I'm not complaining just saying I haven't talked to any in the older generation that even seems to understand or accept we have it much more difficult.

[temporal1]

Wade:
to give you a more clear comparison - my parents house was almost twice the size, 3 bedroom, 2 bathroom, on 5 lots, two big garages
my house was smaller 2 bedroom, 1 bath home on one lot, with a garage not big enough to hold our vehicle
we both had single income, one phone, one vehicle, no dishwashers, they had two fridges and a big chest freezer, we had a fridge, each had no dishwashers, they had a bunch of TV's - we had one, no eating out... I'm not complaining just saying I haven't talked to any in the older generation that even seems to understand or accept we have it much more difficult.

i’m not sure i know of anyone who doesn’t see the disparities.
what to do about it is the question. and, part of that, in my view, is trying to see things apples to apples. it’s not easy for me.

i see what my family lives with. higher incomes than we ever had. much higher costs for housing, vehicles, fuel, et al. health insurance.

this thread is about min wage. min wage earners rarely were home buyers. that wasn’t the original purpose.

the situation today is, people earning substantionally more than min wage can’t make ends meet.
in my view, my Soc Sec income SHOULD BE ADEQUATE. i’m willing to work. even a basic part time job would help. poor prospects in my area. there are jobs where my family lives! but the cost of living is too high for me there. evidently, getting worse.

o.well. i have no answers. i never did.
but now that Congress has empowered itself with spending taxpayer dollars by the TRILLIONS, i have little hope for anyone’s future.
i have NO confidence they know what they’re doing, beyond being willing to sell out everything+everyone for votes.

i believe it’s a runaway train.

[Wade]

Wade:
to give you a more clear comparison - my parents house was almost twice the size, 3 bedroom, 2 bathroom, on 5 lots, two big garages
my house was smaller 2 bedroom, 1 bath home on one lot, with a garage not big enough to hold our vehicle
we both had single income, one phone, one vehicle, no dishwashers, they had two fridges and a big chest freezer, we had a fridge, each had no dishwashers, they had a bunch of TV's - we had one, no eating out... I'm not complaining just saying I haven't talked to any in the older generation that even seems to understand or accept we have it much more difficult.

i’m not sure i know of anyone who doesn’t see the disparities.
what to do about it is the question. and, part of that, in my view, is trying to see things apples to apples. it’s not easy for me.

i see what my family lives with. higher incomes than we ever had. much higher costs for housing, vehicles, fuel, et al. health insurance.

this thread is about min wage. min wage earners rarely were home buyers. that wasn’t the original purpose.

o.well. i have no answers. i never did.
but now that Congress has empowered itself with spending taxpayer dollars by the TRILLIONS, i have little hope for anyone’s future. i have NO confidence they know what they’re doing, beyond being willing to sell out everything+everyone for votes.

i believe it’s a runaway train.

i agree

Hebrews 11:15 And truly, if they had been mindful of that country from whence they came out, they might have had opportunity to have returned.

16 But now they desire a better country, that is, an heavenly: wherefore God is not ashamed to be called their God: for he hath prepared for them a city.

[temporal1]

“Meet the typical Chinese millennial, who makes $22,000 a year but has no student debt, grew up in an economic boom, and has learned how to outhustle everyone else”
https://www.insider.com/meet-the-typica ... ons-2021-7

Any doubt about where they’re headed?