$9 an hour, Living Wage? In our area the low end of rent for a family is around $1250....if purchased that same property would cost no more than $850 PITI. 1st is the goal to continue to have people to rent the properties the wealthier investors own. Based on a sales price of $150,0000, a veteran can get in with $0 dwn, everyone else needs a minimum of $5250 down. Back to $9 an hr: 40rs week@52 weeks=$18,720 per year-$4600 in Taxes=$14,040=$1,170 Spendable income per month... Rent: $1250 (not enough money) +Food $500+Electric/gas $185+Water $100+Car $250+Gas $500+Auto Insur $66+Rent Insur $40+1 cell phone $80+Cable $120+Clothes, shoes, school supplies, misc $200 = $3,291per mo/$39,492 per year/$19 hour. (2 incomes at $9 hr still would not do it, as the food, car pmts, insurance & misc will double) It is obvious at this wage, while the owners of these large companies are making Billions not Millions, the average individual not only cannot make bills but defintiely will not have the money to buy the same house they are renting for less money per month. So why does ANYBODY think we should not raise the minimum wage to below a Living Wage? Please note there is no room for any healthcare or healthcare insurance.
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