Your thoughts on the new federal minimum wage? A few days ago, the minimum wage went up from $6.55 to $7.25 according to the U.S. Department of Labor. The measure affects 29 states while other states already have an equal or superior minimum wage (note that employers are required to pay whichever is the highest: Federal or State). This new federal minimum wage results in an income of $1,160 a month or close to $14,000 a year. Poverty guidelines established for 2009 indicate that for a family of two, $14,750 or less — or for a family of four, $22,050 or less — are indicators of poverty according to HHS (Health and Human Services). It’s even tougher for those in California, where the minimum budget and cost of living for a family of four is $77,069. The minimum wage measure is supposed to combat poverty but we clearly see through the above numbers that our stalwart politicians in Congress have never and will never have to live on minimum wages.
More here:
Federal Minimum Wage Through History, Plus Sundry Thoughts
