Sanders makes it quite clear; we must raise the minimum wage to get people out of poverty, to earn a decent living. Sounds pretty good and like most of what he says and the figures he sites, he is wrong and decidedly one dimensional.
The current minimum wage is the equivalent to $15,080 per year, almost $4,000 above the federal poverty guideline. If a married couple were both minimum wage workers that would be $30,160; above the poverty guideline for a family of five.
Now you may say that’s not accurate, most minimum wage workers don’t work full-time … and you would be right and they are not married and not heads of households and not primary breadwinners .. and that too is the information left out of the Sanders misleading rhetoric.
Let’s raise the minimum wage to $15.00 an hour or $31,200 a year; $62,400 a couple; an amount above the median household income of $53,657 and close the the median family income of $65,910.
So, where are we going with all this? Good question. Does anyone waiving the banner for a $15.00 minimum wage know? I doubt it?
I’m guessing we will raise the poverty guidelines and in the process eliminate many people from being qualified for various government benefits (or simply adjust eligibility and get nowhere). We will also raise the rates of pay for workers currently earning anything above the current minimum wage of $7.25. As a result of all this, prices must rise as a consequence of higher expenses for all employers and from higher demand.