General Discussion

dmallind

(10,437 posts)

54. Now - consider real as opposed to nominal income

Mon Apr 2, 2012, 04:52 PM

Apr 2012

In your scenario if everybody gets an immediate $18k or so pay increase paid for from taxes (including that increase), and fast food workers are paid $25 an hour what do you think would happen to the cost of living?

Dollars are just numbers. What they can buy is important.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

68 replies

= new reply since forum marked as read

Highlight:

What would you consider a "living wage", in the current economy? [View all] NNN0LHI Apr 2012 OP

That = $52k/yr and I agree that would be a minimum in today's world. n/t RKP5637 Apr 2012 #1

There should be a minimum income. Unrelated to work. CAPHAVOC Apr 2012 #2

at a minimum and that would be tough sorrybushisfromtexas Apr 2012 #6

Under my brilliant plan he would pay a 50% flat tax on his income. About 53,000. CAPHAVOC Apr 2012 #7

Are you sure you are in the right forum? ThomThom Apr 2012 #60

Not hardly a measure of what minimum means in most pipoman Apr 2012 #22

So he's taking home around $5800 a month--- snooper2 Apr 2012 #47

Was this intended in jest? Swede Atlanta Apr 2012 #12

Absolutely not a jest. CAPHAVOC Apr 2012 #14

Why? What widgets are going unmade or services going unprovided right now? Recursion Apr 2012 #15

Okay Winston Smith, I'll share my Victory gin with you. Puzzledtraveller Apr 2012 #19

And was not even trying. CAPHAVOC Apr 2012 #21

You want to turn social security into an entitlement program? Math doesn't work. elias7 Apr 2012 #27

Feel free to start writing those checks SATIRical Apr 2012 #28

It is he same free stuff we are providing now. CAPHAVOC Apr 2012 #29

And what free stuff is that? SATIRical Apr 2012 #30

He would get a social security check if he is graduated. So would you. And Medicare. CAPHAVOC Apr 2012 #31

Problem SATIRical Apr 2012 #32

No. It would not be that much. Just enough to live. CAPHAVOC Apr 2012 #36

Oh dear SATIRical Apr 2012 #37

Only for the ones out of school for the dole out of school. CAPHAVOC Apr 2012 #38

So does the cost of Medicare SATIRical Apr 2012 #42

Yes. CAPHAVOC Apr 2012 #43

The number will not work out SATIRical Apr 2012 #44

The closest place i can find CAPHAVOC Apr 2012 #49

To get data on what? SATIRical Apr 2012 #50

No , The total tax revenue we get right now. CAPHAVOC Apr 2012 #57

That's great SATIRical Apr 2012 #59

If the numbers worked out what do you think? CAPHAVOC Apr 2012 #63

Now - consider real as opposed to nominal income dmallind Apr 2012 #54

They would get higher pay and everything else would stay as is? CAPHAVOC Apr 2012 #55

you got everything socialism and a flat tax ThomThom Apr 2012 #61

Believe it or not, this is an idea firmly placed in reality. So much so that Richard Nixon Luminous Animal Apr 2012 #56

Yeah, but it died for several reasons SATIRical Apr 2012 #58

I agree 100%. I have long been an advocate of a guaranteed income but I don't think Luminous Animal Apr 2012 #39

How about just survival. But not absolute squalor. CAPHAVOC Apr 2012 #40

I think your pretty much on the right track. I'd rethink the taxing scheme because Luminous Animal Apr 2012 #45

It would be good CAPHAVOC Apr 2012 #48

75K for a family of 4 in most places. nt Snake Alchemist Apr 2012 #3

Doing some quick calculations and 25-30/hour would be about right libtodeath Apr 2012 #4

Depends on where you live guitar man Apr 2012 #5

A family can actually scrap by on... Kalidurga Apr 2012 #8

there are no apartments here for $900 CreekDog Apr 2012 #65

In the current economy and at today's prices obey Apr 2012 #9

Good God, man ..... oldhippie Apr 2012 #18

I guess I phrased that wrong obey Apr 2012 #24

I make around that much and I'm 35. Minimum wage is about $16k. joshcryer Apr 2012 #66

Never mind. Both of you entirely missed the point .... oldhippie Apr 2012 #67

Depends on the state nadinbrzezinski Apr 2012 #10

"living wage"? safeinOhio Apr 2012 #11

Take the rent for a two-bedroom apartment 2ndAmForComputers Apr 2012 #13

Add $1500 to that for health care insurance, or a bit more. n/t NYC_SKP Apr 2012 #16

Tax free? hughee99 Apr 2012 #33

Around $15 per hour if nothing bad happens Nikia Apr 2012 #17

there are pretty wide regional differences, but I think you're in the ballpark. Egalitarian Thug Apr 2012 #20

For a single person, at least $25 an hour, 40hrs a week, + healthcare & vacation got root Apr 2012 #23

I think it depends on where you live, in LA it should be $25 - $35 an hour w/benefits. Initech Apr 2012 #25

Here in Fargo I'd say $15/hr Odin2005 Apr 2012 #26

You are right and it's do-able if we cut out two-thirds of military spending. Cleita Apr 2012 #34

At least $15 an hour. trollhouse cookies Apr 2012 #35

I wrote on this OVER THREE YEARS AGO...isn't anyone listening?? BanTheGOP Apr 2012 #41

I love that plan. Stan Smith Apr 2012 #46

The ability to pay for rent, utilities, clothes, food and medicine and still lunatica Apr 2012 #51

that's about the median household income Enrique Apr 2012 #52

I don't know, but $10 is approx. what min. wage would be closeupready Apr 2012 #53

$20 to $25 ThomThom Apr 2012 #62

Depends entirely.. sendero Apr 2012 #64

It's a very interesting question. If everybody who currently makes minimum wage started making $52K Egalitariat Apr 2012 #68