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.