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billryan
billryan
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tringlomane
May 31st, 2018 at 12:06:47 PM permalink
How does a $15 minimum wage relate to $1500 a month?

$15 an hour equals $2600 a month.

If the idea is to replace a working wage, $1500 doesn't cut it.
The difference between fiction and reality is that fiction is supposed to make sense.
AZDuffman
AZDuffman
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May 31st, 2018 at 12:22:00 PM permalink
Quote: billryan

How does a $15 minimum wage relate to $1500 a month?

$15 an hour equals $2600 a month.

If the idea is to replace a working wage, $1500 doesn't cut it.



You are right, my math was wrong. Posted in a hurry.

The idea is not to "replace a working wage." Except for the furthest left people I have not heard that suggested.

The idea is subsistence level only.
All animals are equal, but some are more equal than others
billryan
billryan
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May 31st, 2018 at 12:29:25 PM permalink
Quote: AZDuffman

You are right, my math was wrong. Posted in a hurry.

The idea is not to "replace a working wage." Except for the furthest left people I have not heard that suggested.

The idea is subsistence level only.



This is something I am unfamiliar with but who would be interested in a subsistence level income?
The difference between fiction and reality is that fiction is supposed to make sense.
rxwine
rxwine
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May 31st, 2018 at 12:31:08 PM permalink
I'm willing to see how UBI turns out in practice, if indeed it is already being tried in some places.
The Hall of Unverified Claims is a vast place with many shelves.
gamerfreak
gamerfreak
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May 31st, 2018 at 12:31:50 PM permalink
Quote: billryan

How does a $15 minimum wage relate to $1500 a month?

$15 an hour equals $2600 a month.

If the idea is to replace a working wage, $1500 doesn't cut it.


There really isnít an official definition.

Itís generally considered a stipend to cover the bare minimum expenses to survive. So the bare minimum Food, shelter, clothing, and healthcare expenses. For most people it would be a supplement to full time or part time income.

A single individual could live on $1500/month. It probably wouldnít be comfortable, but itís possible.
AZDuffman
AZDuffman
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May 31st, 2018 at 12:39:35 PM permalink
Quote: billryan

This is something I am unfamiliar with but who would be interested in a subsistence level income?



I'd say $1500 possible. Live with roommates, rice and bean diet.
All animals are equal, but some are more equal than others
TomG
TomG
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May 31st, 2018 at 12:46:01 PM permalink
Quote: AZDuffman

I'd say $1500 possible. Live with roommates, rice and bean diet.



For most of us that should be more comfortable than living alone, eating steak, and having to commit 40 hours per week to the workforce.
AZDuffman
AZDuffman
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May 31st, 2018 at 12:54:48 PM permalink
Quote: TomG

For most of us that should be more comfortable than living alone, eating steak, and having to commit 40 hours per week to the workforce.



Right-sizing one's life is important. I live alone in a 4 room place, rental unit upstairs. Drive used only. Don't overload on clothes.

It works great! Just bought another rental unit down my street. I eat well. Low debt. Just lost 2 clients and am looking for work again. But I can find a "fill in" job and survive. 15 years ago I had a way nicer place but it cost me twice as much to just live. Could not afford the daily niceties. Steak and a modest place is more important than a fancy place and beans.

Most people could do it. Most people will not do it.
All animals are equal, but some are more equal than others
TomG
TomG
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May 31st, 2018 at 1:01:52 PM permalink
Quote: AZDuffman

Right-sizing one's life is important.
...
Most people could do it. Most people will not do it.



We all have different values. Which is what makes it is far better to give everyone cash and let them spend it on whatever they value most instead of our current system of wealth redistribution.
Wizard
Administrator
Wizard
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May 31st, 2018 at 1:22:07 PM permalink
The minimum wage per the federal government is $7.25 (source). I think that is a good starting point. Assuming 40 hours a week, that is $41.43 per day, or $1,260.12 per month. I find it hard to believe anyone really lives on that. I've heard about subsidies for the working poor, but don't know much about it. I'd love to throw out a big number, to look like I have a big heart, but I'm also a realist. I think somewhere around $1500 to $2000 a month sounds reasonable.
It's not whether you win or lose; it's whether or not you had a good bet.

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