Site Reddit Com R Explainlikeimfive Nimimum Wage Cost Of Living

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ELI5: How can people afford to live on minimum wage? - reddit

https://www.reddit.com/r/explainlikeimfive/comments/3kmuf6/eli5_how_can_people_afford_to_live_on_minimum_wage/

People "live" on minimum income, but it's a very different experience from what even those with a few savings understand as "living". Just having a bit of buffer money can make a huge difference to how much things cost, because you can buy the 10 pack that is cheaper per item, rather than individual items that cost much more.

ELI5: How people live on a minimum wage in high-cost ...

https://www.reddit.com/r/explainlikeimfive/comments/1a463c/eli5_how_people_live_on_a_minimum_wage_in/

ELI5: How people live on a minimum wage in high-cost cities like New York or L.A. Explained. Close. 1.2k. Posted by 7 years ago. ... People do this regardless of making minimum wage or not. ... Continue browsing in r/explainlikeimfive.

r/explainlikeimfive - ELI5: Why does cost of living ...

https://www.reddit.com/r/explainlikeimfive/comments/3b2hta/eli5_why_does_cost_of_living_increase_faster_than/

Cost of living increases faster than your wage if your market value increases slower than the market, so what you have to do is increase your market value as a worker. This, of course, is not sustainable for a whole country, only for some individuals.

Mapping the Gap Between Minimum Wage and Cost of Living ...

https://www.reddit.com/r/news/comments/3ki9tk/mapping_the_gap_between_minimum_wage_and_cost_of/

Sep 11, 2015 · The cost of living for everyone goes up, including those who lost their employment due to automation being spurred on by an artificially high minimum wage. Lastly, there is a dire contradiction in this line of thinking.

r/explainlikeimfive - ELI5: Why is minimum wage in the US ...

https://www.reddit.com/r/explainlikeimfive/comments/3qe99s/eli5_why_is_minimum_wage_in_the_us_so_low_what/

Jul 28, 2011 · This is a double-edged sword because if you're making, say $10 per hour, and minimum wage is increased by $2 per hour from $8 to $10, you don't get a raise, only people making under $10 do. You're still making the same amount, but your cost of living has just been increased because now you have to pay more for things. This is basically what ...

r/AskReddit - Reddit, why should/shouldn't minimum wage be ...

https://www.reddit.com/r/AskReddit/comments/1s5x3r/reddit_why_shouldshouldnt_minimum_wage_be_raised/

Arguments against Minimum Wage Laws. Opponents of the minimum wage claim it has these effects: As a labor market analogue of political-economic protectionism, it excludes low cost competitors from labor markets and hampers firms in reducing wage costs during trade downturns. This generates various industrial-economic inefficiencies.[71]