Quote:
Originally Posted by tony286
Min wage came out of the Fair Labor Standards Act sign into law by FDR in 1938. The law said about min wage: "minimum standard of living necessary for health, efficiency and general well-being, without substantially curtailing employment" It was supposed to be a minimum basic wage,that one could live in.
I had read with inflation, it should be around $10.56 an hour.
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This is about right IMHO. I agree with Sen Warren on a lot of issues but not this one if she really thinks we could actually raise it to $22/hr. My guess is she was just using that as an example/attention grabber and she probably doesn't expect it to ever happen.
A person can live on $10/hr assuming they are getting full 40 hour weeks. It might not be a high standard of living but it is very possible to do so.