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San Francisco crows about raising its Minimum Wage to $15 an Hour… I’m not impressed.

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I heard on the radio that San Francisco raised its minimum wage to $15 and that raise was crowed about ad absurdum… as if the great liberal yahoos had done something special.

Most people are gullible enough to think something impressive happened as well. For those, let’s throw some math at this situation.

The median cost of a home in San Francisco is $1,364,000 and some change. That works out to about $8,500 a month for a mortgage… if you put the ten percent down, or $136,400. Figure a couple, both working minimum wage jobs own that median home. That’s 71 hours a week, just for the mortgage, each. No food, no electricity, no car, nothing but the mortgage. 71 hours a week for two working people. Now here’s the fun part: No minimum wage employer will pay the overtime for an employee to work 71 hours a week to cover that mortgage… That couple will have to work two minimum wage jobs. Each.

Now let’s look at my hometown. The minimum wage is $9.25 and the median home costs $134,000. Throw the same math at that… 12 hours a week for both in the couple, working minimum wage jobs.

For San Francisco to be as fair as it is in my hometown, the minimum wage would have to be about $100 an hour.

Now, my math is very rudimentary. I don’t factor in taxes (triple in San Francisco what I pay in my hometown). In other words, the situation is even worse than my simplistic look at it.

Just sayin’, folks. Don’t fall for the narrative. Challenge it.

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29 Comments

  1. ericritter65 says:

    Eh, for those particularly bad a math, the minimum wage is zero. It’s called volunteerism. There should be no Ferderal nor State “minimum wage”, I say let the market determine the minimum wage at which someone is willing to do a particular job.

      • f4j7 says:

        you agree with a ZERO minimum wage? get ready for welfare and food stamps benefits to MASSIVELY increase

      • bgddyjim says:

        Look, I pay my guys two and a half to three times our minimum wage (I’m one of those owners whom you make up stuff about). I pay my people what they are worth in our market. I didn’t need the government to tell me what to pay my people. Sheesh. It’s like kiddie time.

      • f4j7 says:

        namecalling, THAT is the biggest problem we have in this country. Rather than trying to find MIDDLE ground, people on the right side of the political spectrum jump to insult others right off the bat. One thing is saying 11 instead of 15, etc, but to be against ANY minimum wage increase when in some states it’s as low as 5$, it’s just inhumane

      • bgddyjim says:

        No, not having time give people ignorant of economics and how things work a proper lesson is the problem.

        Artificially raising the minimum wage doesn’t work because the cost of everything goes up to pay for the added wages. This creates a scarcity of jobs…. and so on and so forth. See also, Venezuela.

      • f4j7 says:

        Almost ALL of Europe has a HIGHER standard of living than we do, why? because they have FREE healthcare and FREE college and UNLIMITED paid time off

      • bgddyjim says:

        It’s not free. They pay through the nose for it… It’s a bureaucratic nightmare, too. Look at how entirely miserable Obamacare is and that’s only a partial trip into the socialist nightmare. Good God, as Tony said, pay attention. Please.

  2. joliesattic says:

    It’s all relative. We have the same situation here in southern California. I cannot believe employers insistent that people will work for minimum wage and they do, when the cost of homes are around $5K if they aren’t in the ghetto or high crime areas, that’s why they are fighting so hard for the “dreamers” to stay here.
    At that wage rate, it’s hard to find help that will stick around much less work.

  3. joliesattic says:

    Sorry, I meant $500K not 5K

  4. Tony says:

    San Francisco is now a big factor in the automation of fast food places. When they force businesses to pay above market prices, something has to give. So, they are in fact pricing out of the market the people they want to help most. You gets what you pays for..

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