I don't know anyone who could live on $15.00 per hour in this country much less, $10.10 per hour as was proposed a few years back. I know I couldn't.
The minimum wage was $1.60 per hour when I was 16 years old. I'm over 60 now. That's well over 40 years and you tell me the so-called minimum wage has only risen to $7.25 per hour in over 40 years?
Do you really think raising it another $2.85 per hour will make any difference when the cost of living in this nation has continued to explode exponentially? I'll answer my own question with a resounding NO!
I contend that the minimum wage is antiquated and should be replaced with a living wage. The living wage would be adjusted according to the cost of living in a particular area or region of the country and would be set as the base or minimum salary for that individual.
For example, if you earned $50,000 per year living in Detroit, Michigan and moved to San Francisco, California you would need to earn $92,549 per year to maintain the same level of living expenses. The cost of living in San Francisco is over 81% higher than Detroit.
Under a living wage, the base wage would be determined by a formula that would take into account specific criteria including average housing costs, cost of utilities, average food costs for the number of individuals living in the residence, average transportation costs, healthcare costs and other normal living expenses applicable for that particular city or region of the country.
The base wage would be calculated or recalculated on an annual basis after the conclusion of the tax season.