Posted on 06/22/2024 10:05:09 AM PDT by zeestephen
The money covers a single person's basic expenses like housing in a studio apartment, food, health care, and transportation...San Francisco: $35.98 - New York: $33.58 - Seattle: $31.93 - Washington, DC: $28.89 - Los Angeles: $26.81 - Detroit: $19.70
(Excerpt) Read more at cnbc.com ...
The only thing you save is utilities and rent.
Lots of that money goes to pay corrupt politicians, and get handed back to the taxpayers in the form of property taxes, payments to inspectors, high salaries for police and firemen, schools which cost three times per square foot than business buildings, etc. Teachers which get saleries over 100k with benefits and their administrators (kickbacks to Democrats).
All the stupid Green, LGBTQ+ programs, homeless programs, more special welfare programs, etc, etc.
MULTINATIONAL INC.
ANNUAL NOTICE and DEMAND LETTER to AREA LANDLORDS
We require at least 80% of employee rental agreements to be in conformance to our reasonable rent standards which are in the pamphlet our employee has given you, otherwise our business will relocate to another area.
Emily Enforcer, Senior Human Relations Manager
Spartan - but not impossible.
$36 an hour is $75,000 pre-tax.
$11,000 federal income tax. SS/Medicare is $5,700. $3,700 state income tax. $3,000 NYC tax. $3,000 health insurance.
So, your take home pay is close to $49,000.
Average studio - $3,100 month. $37,000 a year.
So, $1,000 a month for food, transportation, phone, laundry, Internet.
No social life. No girl friend.
But, if you love NYC, and do not want a roommate, it is possible.
I am tired of the whining by people who want to live in expensive cities but do not want to pay the price.
*****************
The volume on whining will only increase, as many of the people you’re talking about will be headed “your way” over the next decade.
The big cities won’t die off, but they’re going to lose population due to expensive real estate, not as much economic opportunity as in the past, and not enough reproducing.(death rates higher than birthrates.)
Also, immigration isn’t a long term fix for population growth, because the same demographic trends are global. Most the first world economies with substantial market capitalization are leaning on the older side.
We could ask,why do we apparently expect someone earning minimum wage, to be able to afford to have their own apartment in these major expensive cities?
Why is that a key criterion to evaluate the financial situation with someone at minimum wage?
And then that begs the question of what the authors of this article expect to be done about this situation. It begs a possible solution as being government intervention in the housing market.
It would be interesting to see historical data on this subject as well. Was there ever a time , decades ago when rent and housing was far cheaper in nominal dollars, when someone on minimum wage could easily have afforded their own apartment?
There was usually some funky, low rent district in big cities that young people could afford to live in. Then the artists moved in, and after them, the rich people who wanted to live in an artsy neighborhood. The remaining poorer districts are usually unsafe until enough young, employed people start moving in — and that starts the same cycle all over again.
Hardly anyone can live happily on that little.
In Sweden, income tax returns are public information.
Workers and employers know what wages and salaries are being paid.
The author of this article is described as, “a money reporter at CNBC Make It. He previously covered personal finance topics for Lifehacker.” It’s one thing for him getting it so wrong, but quite another for his editor to miss it also.
$225,000/unit
Note: I’ve never been in the area, which might be unsuitable for a white female.
If single Simp guys would stop ‘dating’ every young city woman he sees who’ll ‘date’ him for dinner, etc. he’ll save a lot of money. That’s what these dinner gold diggers do....saves them a bunch on food costs.
The List is for the 25 largest cities in the USA.
Honolulu and Anchorage do not qualify.
I haven’t made that little since 1993.
>>Minimum wage should reflect what is required to pay the bills.
The real minimum wage is always $0.00 per hour. It always will be and that cannot be changed by any politician nor economist.
“Was there ever a time , decades ago when rent and housing was far cheaper in nominal dollars, when someone on minimum wage could easily have afforded their own apartment?”
There was no such thing as a minimum wage circa 1900.
Prior to Social Security, widowed women ran boarding houses.
Single men and women rented rooms in boarding houses.
Washington, DC was known for its boarding houses for single female government workers.
“Do not let any calamity-howling executive with an income of $1,000 a day, ...tell you...that a wage of $11 a week is going to have a disastrous effect on all American industry.”
President Roosevelt
“The real minimum wage is always $0.00 per hour. It always will be and that cannot be changed by any politician nor economist.”
Eighty-six years of American history says otherwise.
“If single Simp guys would stop ‘dating’ every young city woman he sees who’ll ‘date’ him for dinner, etc. he’ll save a lot of money. That’s what these dinner gold diggers do....saves them a bunch on food costs.”
It might cost $50/’date’ to cast his ‘line’ into the ‘water’, but Simp might reel in a ‘fish’ that could add over $1 million to his life.
I thought minimum wage jobs were for teenagers and college students trying to make and extra buck or two while gaining job experiences.
The Left, and the political class, have been brainwashing citizens for years to believe minimum wage was to support a person for everything, which it has never been.
No, the minimum wage is necessary because there are people who will otherwise make it $0.00 and abuse our citizens, especially youth. Many are the same folks who now hire illegals. An abusive employer will pay $0.00 if he can get away with it because he shifts the actual costs on the community and government to make up the difference so that a person can survive. No, make them pay the necessary wage so that their employee can live and thrive. And if that is $25 per hour, so be it.
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