Minimum wage?


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2 thoughts on “Minimum wage?

  1. One thing that strikes me about the labor market today is the expectation that the modern worker has about someone else providing employment. “I haven’t found a job” indicates that there should be one out there, but often there is not. We live in a world where the consumer (us) wants to pay China prices for American goods, so we force our neighbor into low-wage jobs at WalMart. It never occurs to us to start our own jobs, to make our own success.

  2. You can buy a house in many towns in New York State for under $75,000. If one uses the old rule of thumb for homeowning, you should never pay more than 5 times your annual pre-tax salary for a house. So somebody earning minimum wage, working 40 hours a week, would earn $17,680 a year. Multiply that by 5 and you get $88,400. Thus homeownership is within reach of those earning $8.50 an hour. If there are two wagearners in the home, it becomes quite possible.

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