Re:How poverty changes your mindset
by eanzenberg on Sunday February 25, 2018 @08:41PM
(#16462387)
How is America statistically worse than before? Compared to when?
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Re:How poverty changes your mindset
by NegativeLatency on Sunday February 25, 2018 @08:55PM
(#16462439)
Compared to a time when minimum wage provided a decent standard of living.
It never really did, nor was it ever intended to do that. It's always been a wage that was at or slightly above the federal poverty line.
The lowest minimum wage I remember hearing about as a kid was $1.50/hr. I thought that sounded like a lot of money at the time, but I probably was not even 10 years old.
That would have been in the first half of the 1970's when the federal poverty line was around $2,500. So working full time, you'd make $3,000 or about 120% of the poverty level.
Today, the federal minimum wage is $7.25 an hour and the poverty level (2016) is $12,200. So still, a full-time minimum wage worker earns nearly 120% of the poverty level.
Source: Table 1, https://www.census.gov/data/tables/time-series/demo/income-p...