04-07-2004, 04:40 PM
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#30 (permalink)
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Junkie
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Quote:
Originally posted by Ustwo
You obviously are missing some basic ideas about the minimum wage.
#1 The minimum wage is NOT meant to be lived off of. Its for basic entry level unskilled jobs. You can't afford to pay every teenager working for you a 'living wage'.
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You are absolutely wrong on this point.
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Minimum Wage
The minimum wage was first enacted in 1938 as part of the Fair Labor Standards Act (FLSA). Initially just 25 cents per hour, it has been raised several times in the decades since. In real (inflation-adjusted) terms, the minimum wage reached its peak in 1968, when it was worth $6.92 in 1998 dollars.
Despite increases in the minimum wage during the 1990s, the buying power of the federal minimum wage has declined by nearly 25 percent over the last 20 years. In fact, the prevailing minimum wage is not high enough to afford a two-bedroom home at fair-market rent anywhere in America.
The federal minimum wage is $5.15 per hour. The Fair Minimum Wage Act would raise the minimum wage to $5.90 per hour 60 days after enactment and to $6.65 per hour one year after that. This measure would put money into the hands of 10-12 million low-wage workers, bolstering consumer income and spending for workers who do not receive income tax cuts.
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-- http://www.chn.org/issues/issue.asp?iss=18
Quote:
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The Fair Labor Standards Act of 1938, as amended (referred to as "the Act" or "FLSA"), is published in law in sections 201-219 of title 29, United States Code. The Act provides for minimum standards for both wages and overtime entitlement, and spells out administrative procedures by which covered worktime must be compensated. Included in the Act are provisions related to child labor, equal pay, and portal-to-portal activities. In addition, the Act exempts specified employees or groups of employees from the application of certain of its provisions.
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-- http://www.opm.gov/flsa/overview.asp |
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