Posted on 02/19/2019 3:37:42 AM PST by RoosterRedux
Democratic Massachusetts Sen. Elizabeth Warren claimed on Saturday that when she was a child, a family of three could live on minimum wage. “Back when I was a kid, a minimum-wage job could support a family of three,” she tweeted. “Today, a full-time minimum-wage job in America won’t keep a mama and a baby out of poverty.”
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No one disputes that today’s minimum wage would not provide sustainable income for a family of two, much less three. Warren’s initial claim — that “a minimum-wage job could support a family of three” when she was a child — only holds true in part.
Warren was born in 1949. In 1960, she would have been 11 years old. The minimum wage at that time was $1. Assuming a 40-hour work week, the annual pay would have been $2080. The poverty line in 1960, for a family of three, was $2322 annually.
In 1965, when Warren was 16 years old, the minimum wage had risen to $1.25. Again assuming a 40-hour work week, the annual pay would have been $2600. The poverty line in 1965 for the same size family was $2514, making Warren’s claim just barely possible at that time. (RELATED: Liz Cheney Refuses To Attack Trump, Calls Warren A Laughingstock Instead)
But possible or not, Warren ignores two very important factors with regard to minimum wage.
First, who actually earns it. Fewer than three percent of Americans earn minimum wage as of 2017 — and the majority of them are young. Workers under 25 only make up about 20 percent of all hourly paid workers, but they account for close to half of those who are paid minimum wage. Minimum wage earners also tend to be primarily part-time (fewer than 35 hours per week)...
(Excerpt) Read more at dailycaller.com ...
This is all part of a Leftist trope that implies that every job is and ought to be a job held by an adult head of household for whom there are also no other working adults in the household.
The problem with that trope is that it has seldom if ever identified the majority of persons earning a “minimum wage”.
By asking that employers hire everyone under the expectation that they are an adult head of household for whom there are no other working adults in their household, sets a labor cost hurdle that would find a very good many people priced out of jobs they presently hold. The flip side of that, to meet the demand for labor, will be extremely higher labor costs that will filter into prices that a very good many people cannot afford at the “minimum wage”.
Essentially, Warren and the Leftists deny labor markets and how they are set by supply, demand and the resulting labor costs needed for demand to be filled. By keeping that market functioning, labor costs are kept where product and service prices will be the most affordable possible in their markets.
By artificially setting a labor rate, the government is imposing a non-market increase in labor costs that generally results in higher retail prices that eat up much of the “minimum wage” increase for those paid that wage. It also prices out of work many who are among those who are less experienced, less educated and less skilled compared to their peers.
Great way to look at it.
I just priced a basic Lexus, which are all over the place.
for approx. $11/pound
Democrats like to shackle their children and grandchildren with debt and carrying costs of the debt.
That brings back some memories.
About that same time period I was single and lived alone. Was an account clerk in the Assessor’s office of our county. I remember my take home pay. $210 every 2 weeks. Couldn’t pay rent, make a car payment, and eat on that so I took a night job on top of my day job. Worked full time at night doing cocktails at a local night club. I was essentially working almost 80 hours a week.
My first summer job 1962 was $1.25 and hour. My first teaching job, 1967-1968 was $6000 salary, and it was enough to stay out of debt. I have relatives who never got more education than HS, did those kinds of jobs their whole lives, and had a comfortable life style.
‘High mileage aoc’...Lolol...you win the Internet today....
It was a great time to be a kid.
Thirty years ago I was a manager in an industry that paid minimum wage.
Our Corporate VP of HR addressed our employees once, giving his boilerplate spiel about how these jobs are just supplemental income to students and homemakers, and thus did not need to pay more than minimum.
Looking around the room virtually everyone in the audience was a single mother raising children.
The mathematics of the minimum wage have not changed, but the sociology for damned sure has. The breakdown of the family is what’s allowing fake Indians to win elections in this country.
The minimum wage requirement is a ghetto teeny unemployment act. Gives them lots of time for gang activities instead of learning how to work.
If such a statement had been made by a conservative, instead of the reporter doing a few “back of the napkin” calculations they would have interviewed 10 economics professors from all across the country by now and the article would have 25 graphs and diagrams.
I’m a year Older. Fast forward 24 yrs and 2 boys. I worked for $3.50 per hour, NO FREEBIES, except Grandparents taking the boys on School off days, and Summer Vacations. Had 1 vacation scheduled over 2 weekends that had a Monday Holiday in 7 years. I worked sick, injured, caught a ride to work from a co-worker when the car broke down.
We lived in a $65 shack. Dad co-signed a loan for a used car. We had no phone. Didn’t go to the docs unless it was an emergency, and paid that on payments when we had to. Used coupons to make food $$ stretch.
THIS IDIOT NEVER WORKED REAL JOB A DAY IN HER LIFE.
Neither is truth
I don't know about anyone else but I don't recall having many classmates from back then that were only children, families had at least two children and usually more like five to eight.
But hey those are my actual memories not the peace pipe dreams of Fauxcahontas.
Hubby was fixing to graduate HS, draft notice came in. NO one would hire him. He threw Hay for $1. an hr until time to show up. Then went down and Volunteered for the Air Force served 4 yrs, after Basics he Volunteered for the Mace Missile Program. Army was NOT happy to lose gun fodder. Got paid ONCE a Month. BAQ stunk back then...just as it does now.
I remember my first full-time job, between graduating high school in 1966 and going off to college in the fall. I earned $1.25 an hour at Zayre’s discount store in North Olmsted, OH. My take-home pay was $40.55 per week. I was shocked when my dad made me pay $15.00 of that to my mother for room and board. No freeloaders allowed in his house. He also only paid for one semester in college, to give me a leg up. The rest was my responsibility. How times have changed!
*** The minimum wage at that time (1960) was $1.***
I remember those days. Since agricultural wages were lower than “minimum” we were lucky to find a job here making 25 cents an hour.
In 1962, dad was making $4.50 an hour union wages. He got a wild hair and within a week we had moved to a place where he could not find a job making more than 40 cents an hour.
We never understood why he would throw away good wages for bad.
When I entered the workforce minimum wage was $3.35/hour.
But my first job paid $2.00/hour. It was with a nonprofit that did not have to comply with minimum wage law.
After a 90 day probationary period I got a raise to $2.50, and was damned happy to have it.
Worked for Crompton Richmond Co. Inc. Factors on W 40 St. same exact time, same exact salary.
Between having to kick $25 to the folks for room and board (no lunch M-F), $4 for carefare (two fare zone) I was only able to buy a Vespa as the insurance for a car was prohibitive.
You done good.
PS...that Vespa came in handy during the transit strike
The Tower of Jelly (thank-you Bob Grant) John Lindsey had Mike Quill thrown in jail, IIRC? Nice move on the Vespa. We car pooled & parked basically anywhere we could then hoofed to Wall St. No excuses for missing work back then :)
Nice to meet you!
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