Today I Learned... About the Proposed $15 Minimum Wage
The minimum wage right now in the United States $7.25; this is impossible to live off of. Studies have shown that, on average, a person earning 7.25 an hour full time would lose $3,000 a year because their housing and food costs would cost more than their income. As the most powerful country in the world, this honestly needs to stop. Yes while minimum wage can range on a state level, it is only to offset the higher cost of living. In California, my state of residency, the minimum wage is $13, but this is due to the fact that California is one of the most expensive states to live in.
The Democrats have proposed the Raise the Wage Act, that would raise the minimum wage to $15 an hour by 2024, more than double what it is now. The $7.25 minimum wage was set in 2009, the year of the recession. With our economy recovering and evolving for a full ten years since then, we are in a completely different situation now. While this was proposed by Democrats, there is still a significant number of Republicans who are in support of this. It got approved by the House, but the Senate is still against it. This proposed bill would bring out 1.2 million US residents out of poverty. However, it would also mean that 1.2 million people could also get laid off to offset the price of the doubled minimum wage. This is something that we need to take account of, but I think it is more important to get people above the poverty line.
Campbell, Alexia Fernández. “The $15 Minimum Wage Bill Has All but Died in the Senate.” Vox, Vox, 16 Aug. 2019, www.vox.com/2019/8/16/20807610/raise-the-wage-act-15-minimum-wage-bill.