Could you please tell me at what point in time someone on minimum wage could support a family?
In the 50s?
Doubt it.
It’s common to pine for the good old days of the 1950s and modern-day Gaza, but I suspect that even at the time one person making minimum wage wouldn’t have supported a great life for an entire family… maybe they would have been able to scrape by, like many people scrape by now.
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Well, in the 50s the wage difference between CEO and base level worker wasn’t so lopsided as they are now. Corporate profit is much higher now than before while wage never caught up. If minimum wage caught up with inflation then it should be 30 dollars an hour.
Yeah, true. Very common knowledge though, and not what you said or what I responded to.
U.S. dollars? Are we talking about the U.S. now? I’m not American, and neither are you. We’re in Taiwan, and the thread is about Taiwan/Taiwanese. I don’t care about minimum wage in the U.S.
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And 90 percent of SMEs would be out of business. I hate minimum wages as they restrict. With demand for labourers anyway, you don’t need it. Look at oil boom towns in Canada in Alberta. They don’t have high minimum wages but a Mcworker is often paid 20 or 30 CDN an hour to retain talent.
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Are fast food more expensive in Alberta as a result of the higher wage?
Perhaps marginally but the high salaries and strong GDP per capita make it negligible.
Minimum wage exists because in the late 1800s companies worked workers nearly to death while paying peanuts, they could do that because there were no sme to compete with them, they were monopolies.
That’s what minimum wage laws are designed to do.
Speaking of the US there’s not many sme in the US, corporations and franchises are the biggest employers. A very low minimum wage isn’t helping anyone.
Please start a US based thread then. This is a thread about Taiwan. You might want to realize one day we are not in America, you are not American, and every thread you want to turn into something about America.
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