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Why is America's Minimum Wage Only $8?
Is it me?
In a one of the world's richest nations, even in poor economic times, the federal minimum wage for all is around $8.00 an hour. What types of business rely on these wages? Fast food, UPS stores, retail sales. There is no family in America that can survive on this wage without lots of welfare handouts in food stamps, or subsidized rent, which of course, taxpayers (even those earning $8 hr) pay for. Even a single person has problems living with this pathetic wage. At $8 an hour, one earns $64 a day or $320 a week fulltime,Per month, it is $1280 gross, after taxes, the net is near $1100. Per year, net, it is $13,200.
Rent will usually consume half or more of the monthly net, depending on location. If your rent is $800 mo., one has $300 remaining to spend on everything else. By the time utilities are paid, you are near broke.
While those not in America may think these are good wages, they are dirt wages for Americans. What angers me is it really is all greed. Look at McDonalds. This is the wage most begin at. Yet, in the course of a few hours, they have already sold hundreds of dollars, In a day, thousands. Selling two burgers equals one hour's work. Employers always cite the benefit costs, but one does not live on benefits daily, It is just their way to justify and placate the poor workers there. Ditto for UPS stores. Why can't employers pay at least a decent wage of $10 hr., which is still too low in my book as a minimum wage? A decent minimum wage is $12 hr. The reason is greed for a large profit margin. They are able to take less of a profit, just unwilling because of their greed.
Those who work for those low wages have zero money for extras. Filling up their car takes, on average, a half or a full day's pay. No wonder people on unemployment prefer that to working for $8 hr. Those that get unemployment have already put money into the system and now they are getting their share. I don't blame them. Maybe if the minimum wage was at $12 hr. less would be willing to get off unemployment.
I would like to see President Obama or any CEO work for that wage for a month. Maybe things would change then.