1219
Minimum wage
(slrpnk.net)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 20 Oct 2024
1219 points (100.0% liked)
Microblog Memes
5787 readers
2325 users here now
A place to share screenshots of Microblog posts, whether from Mastodon, tumblr, ~~Twitter~~ X, KBin, Threads or elsewhere.
Created as an evolution of White People Twitter and other tweet-capture subreddits.
Rules:
- Please put at least one word relevant to the post in the post title.
- Be nice.
- No advertising, brand promotion or guerilla marketing.
- Posters are encouraged to link to the toot or tweet etc in the description of posts.
Related communities:
founded 1 year ago
MODERATORS
So... one approach you could take would be to say anyone working a full time job should be able to afford a one bedroom apartment. You know, New Deal kind of ethos for the modern era.
https://www.zillow.com/rental-manager/market-trends/united-states/?bedrooms=1
Ok, avg one bed rent ~= $1600 a month.
$1600 * 3 = $4800 (1/3 rent to income ratio)
$4800 / (40 hrs x 4 weeks) = $30 dollars an hour.
So yeah its actually worse than 'We've been arguing about $15 for so long its more like $25'.
Nope. Its $30 an hour. $62,400 a year.
Sure would be cool if we did literally anything to _actually_make housing more affordable.
(BTW 60% of working individual Americans make less than this)
https://dqydj.com/income-percentile-calculator/
I agree anyone working a full time job should be able to afford a one bedroom apartment but minimum wage in 1940 was $624a year and an average apartment seemed to be $324 a year so to meet that same level of pay we would “only” need a minimum wage of 17.25. That’s still way more than the current minimum wage of 7.25 but not as high as $25/hr