wanted to try to see if the real-life numbers reflected this claim and found this some data that might help discussion
https://www.bls.gov/opub/reports/minimum-wage/2016/home.htm
i'm always on the fence about minimum wage personally. i understand the theoretical economic implications of it all, just wish there were a way to help the people who are trying to live on stuffty minimum wage jobs. the answer, i guess, would probably be to help them find their ways into better jobs that pay better, that's just a whole lot more complicated to implement (and fund) lol
Minimum wage is, as was said before, intended not to be a livable wage. Minimum wage jobs are intended as a way for people to get their "foot in the door" so to speak in the labor market. The intention (and sensible path) is that one will invest their money into themselves to market themselves as a desirable employee (whether that be through a college degree, trade school, or some other vocational training or certification).
If you're above the age of 25 or so and still making minimum wage, you're in the minority and no longer using the job as intended. Community college is affordable and a great way to boost one's marketable skills (some things such as becoming a certified bookkeeper can be one six-month course, or a Real Estate certification being anywhere from 6mos to 1 yr depending on where you are.)
My point being, the path to a livable wage isn't entry level positions, was never intended to be, and people should stop trying to raise minimum wage to force entry level positions to be livable (as the aforementioned negative consequences will hurt growth and those trying to enter the workforce for the first time.)
You have to invest in yourself, your own skills, and your own credentials to get a livable wage. Community college, trade school, apprenticeships, etc, any of that can help.
As this table shows, having a bachelors degree at the least is invaluable, as it increases one's ability to pay for their cost of living and then save any surplus, or invest that money (stocks, 401k/403b retirement fund, mutual funds, etc) to provide for you when you retire. Now more than ever, a bachelors' degree is the new "Standard" for any sort of reasonable employment, as employers desire employees which have the core skills a college education will provide (reading, writing, critical thinking, research and citation, arithmetic, etc.)
It's not that hard to understand. Economic literacy and personal finance isn't difficult stuff, it just requires time and effort to learn about.
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