3 ms·

We should peg minimum wage to some multiple of the 5 year rolling average of per-capita GDP.

• asdff 7y ago
  Peg it so full time hours is 3x the local 1br apartment rent, then it would make a difference for so many people currently working 60-80 weeks to live paycheck to paycheck, unable to save enough to even afford the proportionally massive upfront cost of moving to a cheaper area.
  • 0xffff2 7y ago
    Ha. 3x the local 1br apartment rent would put minimum wage higher than my current salary as a software engineer in the bay area (granted, I'm a government software engineer, not a FAANG software engineer). I don't know how many localities this would work for, but given the comically high wage (~$55/hr) you would get in many bay area cities, I'm guessing it's not many.
    • asdff 7y ago
      Yikes. LA area those numbers look more like $24 an hour on average. Perhaps in exceptional places like the SF bay area it would make more sense to invest in large scale public housing projects, with rents capped to 1/3 full time at minimum wage.