Posted by JML755 on November 17, 2016 at 10:46:40 from (97.78.165.130):
In Reply to: A living wage posted by John in La on November 17, 2016 at 06:29:28:
Well, no one really offered an opinion on the OP's question: What is a living wage? The answer will depend on where you live, how many people have to live off that wage but I'll take a stab at it. The government says it's $ 11,880 for an individual and $23,283 for 2 adults with 2 dependents in the 48 contiguous states. That's the FPL (Federal Poverty Level). Crank it up from there to allow for other expenses (health care, gas money, clothing) and "some" luxuries (toys for kids at Christmas, dinner out once a month, etc), "some" retirement savings (you're not going to live off SS in retirement making those low wages), "some" rainy day fund savings (new furnace, car repairs, etc). So, if you said $ 250 a month for each of the above, that'd add $12k to the total or about $24k or $ 12/hr for an individual and $35k or $18/hr. Both those numbers seem low to me.
An unemployed person with few skills might say he'd take $18/hr right now and be happy while someone with skills making $25/hr taking a pay cut to $18/hr would be unhappy. So, it's pretty relative, but I'd say $25/hr is a comfortable bottom number. Agree or disagree?
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