“Absolute minimum wage”: Man sparks online debate about fair wage after sharing MIT report that says minimum wage should be $26

Not everyone strives to be a billionaire. Most try to make ends meet. But the grim reality of the federal minimum hourly wage in America makes it a difficult mission. Due to not being consistent with the times, the $7.25 hourly rate has stuck since 2009. No wonder people still fall short of meeting their basic expenses, right? As Americans continue to test paycheck to paycheck, workers are fighting to raise the national wage floor to the $15 threshold, something most workers see as a living wage.

But as it turns out, $15 an hour just won’t cut it anymore. As researchers at the Massachusetts Institute of Technology (MIT), who Living Wage Calculator, said, “Families and individuals working in low-wage jobs earn insufficient income to meet minimum standards given the local cost of living.” So they created this tool to help people better understand the salary they need to meet the minimum standard of living in their area.

Lately, the New York-based Redditor 6 inch substrate came across A report from MIT And shared some illuminating statistics with Anti-work Community. Raising awareness of today’s financial situation, the post immediately sparked an important discussion about the living wage in the comments. Scroll down to read the user’s post as well as reactions from people online, and be sure to weigh in on the discussion in the comments.

Recently, a Redditor sparked a debate about the living wage after sharing a report from MIT, saying the minimum wage should be $26.

Image credit: Alexander Mills (not original photo)

Photo credit: Alex Kotliersky (not original photo)

Source: MIT

The user urged readers to check wages in their area using Calculator (Providing links to the above New York-Newark-Jersey City, New York And Bronx County, New York areas) as well as the amount they should spend on rent. Fair Market Rent Documentation System. He also raised the awareness that the current economic downturn and rising inflation may make people fall behind in paying their landlords. “If you use inflation Calculator And this Data And compare it ThisYou can see that the rent has gone up with inflation.

In the MIT report shared by the user, researchers emphasized that “the living wage is Basic An income standard that, if met, draws a very fine line between the financial independence of the working poor and receiving public assistance or suffering permanent and severe housing and food insecurity. In light of this fact, the living wage is perhaps best defined as the minimum wage for individuals living in the United States.”

The user also pointed out that the Living Wage Calculator is the one used by “The Fight for $15,” a global movement that started in 2012 to demand higher wages and union rights. “We are fast-food workers, home health aides, childcare teachers, airport workers, adjunct professors, retail employees — and low-wage workers everywhere.” States On their website. Struggling to survive, workers organized and fought for what they knew was “right”. “We’ve already won raises for 26 million people across the country — with 10 states at or on their way to $15/hr — all because workers came together and worked as a union.”

but, According to To Judy Conti, director of government affairs at the National Employment Law Project, a workers’ advocacy group, “When people are screaming [that a $15 minimum wage] It’s such a radical proposal, the bottom line about it is how little it will actually do.

See, if the minimum wage had kept pace with the economy’s productivity growth since its peak in 1968, it would be about $23 an hour today, or $46,000 a year in earnings, economists say. Dean Baker wrote In a blog post for the Center for Economic and Policy Research.

“A minimum wage raising productivity is not a crazy idea. After the national minimum wage came into existence in 1938, in fact, the national minimum wage kept pace with productivity growth for the first 30 years.” ,” Baker explained. “While [$23 an hour] Hardly a luxurious standard of living, it is certainly enough to support a middle-class lifestyle. For a two-earner couple, that would be $110,000 a year. Imagine what people at the very bottom of the labor force can reasonably expect when they’re in their thirties and forties.

As the Redditor explained in the post, raising the hourly minimum wage to an amount that would allow families and individuals to cover their basic expenses is a “bare minimum wage.” Do you agree with their insights, dear readers? We’d love to hear your thoughts on the matter, so be sure to share them with us in the comments below.

People immediately took to the comment section to share their insights, here’s what they had to say.

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