@ToolPackinMama She's right. Going by economists' recommendations that housing costs shouldn't exceed ⅓ of gross income, and given that, in my area, the average rent is now ~$1450/mo. (and rising), then:
$1450×3=$4350×12=$52,200/yr.
For an hourly wage worker in a 40 hour job, with no OT, that works out to about $25/hr for a so-called "living (minimum) wage," significantly higher than California's current minimum wage of $20.
Even with 3% inflation (an economy that is on the verge of flaming out) the price of living increases.
I get frustrated with people that are happy to see their paycheck grow but don’t understand that means the cost of living ALSO has to increase.
We can change that but many people would be unhappy: socialize core requirement. That means the basics: food, medicine, power, water, internet at a minimum. I’ve also am an enthusiastic UBI supporter.
@feloneouscat @POOetryma @ToolPackinMama
Here's a fun fact for you. I'm a retired federal employee, we get cola's annually based on inflation. If inflation is pegged at 3% I get a 2% increase in retirement pay.
Someone calculate how many years before I am broke😃
@KGinKS @POOetryma @ToolPackinMama
I’m retired as well. I live off of Partner’s state pension (Texas).
Guess what our COLA is?
ZERO.