Minimum wage
Jun 28th, 2006 by Jordan
If you earn minimum wage, you make the following:
$5.15 x 40 = $206 / week
$206 x 52 = $10,712 / year
That’s before taxes, of course.
The minimum wage has not risen in 10 years. In that time, wages for Congress have risen $31,600. Yet, oddly enough, the Senate said no to a wage increase. Thanks guys — always good to know you have the people’s best interests at heart.
[...] Despite this, the book is a lesson to all about the sorry state of our economy. Indeed, while the rich get richer, the poor get poorer. Just recently I wrote about how much minimum-wage earners would make in a 40 hour week. How anyone could believe that this is a “living wage” is beyond me, and as this book demonstrates, beyond reality. [...]