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2006-12-13 04:10:23 · 4 answers · asked by Dominic N 1 in Business & Finance Careers & Employment

4 answers

I would say yes, but it doesn't matter because if we raise it dramatically (like to $10 an hour) the prices everywhere will be increased. Not because people have more money, but because the places that use the minimum wage workers will need (more like want) the same profit they were getting before the increase in the minimum wage.

I believe the only solution will be to have workers refuse to be paid that low and work somewhere they will get more money. I understand not everyone has the option to leave and work somewhere else, and that is why I think it should be raised.

2006-12-13 04:23:38 · answer #1 · answered by mikzilla0 2 · 0 1

Every state has the right to set it's own minimum wage but according to the Federal Fair Labor Standards Act, minimum wage can't be lower than $5.15 per hour. This gives you roughly $9,888 per year if you work 5 eight hour shifts per week and never call in sick. Take out 35% for taxes (they vary a great deal from place to place and household to household) and that leaves you with $6,427.20. That gives you roughly $535.60 to live on each month. $9,888 doesn't sound adequate to me especially considering that the 2006 poverty line for the 48 contiguous was drawn at $9,800 (for a single person household). Thanks to the government you're making $88 above poverty!

2006-12-13 04:57:11 · answer #2 · answered by amandacbdf 1 · 1 0

Yes. It is way too low. And I think it should be regulated depending on the COL in the area.

For example. Zebulon, NC is not a high cost of living (COL). $400/mth for 2 bedroom townhome. Min wage could be $8/hr.

Sterling, VA. Outrageous COL. $1200/mth for a 2 bedroom. Min wage could be $12/hr.

But yeah, it is way too low.

2006-12-13 04:20:18 · answer #3 · answered by Terri 7 · 0 0

yes, hence the name minimum

2006-12-13 04:14:08 · answer #4 · answered by Anonymous · 1 0

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