A single parent currently making minimum wage of $8.64 pulls in an income of $324 a week, $94 in food stamps, and only $0.40 cents a lunch for your child or -$2 a week. Net income? $416 a week.
Minimum wage raised to $15/hr will pull an income of $563, no benefits as you no longer qualify, and $2.25 a day for lunch. If you spent $94 a week in food, that is now 20% higher due to inflation, so you're spending $113 a week on groceries to equal your previous SNAP benefits. Net income? $438.
Raising the minimum wage from $8.64 to $15 only nets a $22 a week increase in overall income, but unfortunately the cost of living going up roughly 4% (housing, etc) due to inflation will net an overall lower income at $15/hr than current $8.64.
People are fucking stupid.
How in the hell did this pass in Florida?
Poorly educated voters.
Small companies that help with medical insurance will transfer that to the employees.
Yep, you can kiss medical insurance subsidized by your employer goodbye.
This will cost EVERY employee $.
Also, it will remove their access to benefits.
The current rate of $8.64 with benefits nets $416 a week income. Raising the minimum to $15 which removes those benefits nets a weekly income of $438.
A $22 a week increase of income, which will unfortunately vanish due to the cost of living increase which should (due to other cities as examples) raise around 4%. So, if your apartment is $650 a month, it will raise to roughly $700 a month. Not even counting everything else you buy.
Household income will be even lower when Joe, working part time washing dishes to help pay bills loses his job because the chef and busboy (who will split an extra 4 bucks an hour for their efforts) now wash the dishes that don’t fit in the new machine Source: restaurant owner
But it hurts the young kids looking for their first job.
Or just keep the minimum wage alone. Hell, we should limit the states from raising it so high. Since the federal minimum is $7.25, make it to where $10.25 is the highest they can raise it.