November 13, 2006
So, with the newly-Democratically controlled Congress, a minimum wage increase in the near future seems quite likely, and it looks like the national minimum wage will be raised from $5.15 to $7.15 an hour. Without getting into the argument of whether or not government wage control is economically beneficial for the country, I have a question to pose regarding this new "living wage". What does a "living wage" mean? When do we raise or lower this "living wage"? When one person can afford a modest mortgage payment, utilities, savings, etc? Or what if they're married and the spouse does not work? Or what if it's just one person raising five kids by themselves? Who is supposed to be able to live and in what quality with this "living wage"?