Saturday, July 27, 2013

How dare you hire for $7.25 an hour!

Why in the world are there companies that are getting away with paying fully grown adults $7.25 an hour?! How can anyone live on that wage? This is what the minimum wage is here in NH which is federal minimum wage.

Lets calculate expenses for a full grown adult who needs to live on his/her own. The gross wage for $7.25 an hour 40 hours a week is $1160. Then you need to pay taxes and social security. Since NH does not have state tax we get a little break on having that taken out. So we take out 15% which is $986 a month. Rent alone costs at least $600 for a studio apartment (maybe a 1 bedroom in a low quality building). That only leaves $386 for food, gas, and bills. So as you can see anyone on this wage is going to struggle. They do not deserve this at all. A working person needs to be rewarded not poor!

Oh but what if you have health insurance through your work? Well you better or else if you get sick you are looking at big bills. However with the amount of money you will most likely pay for your health insurance you'll be lucky to take $700 home a month. No one is able to live on that so forget about the insurance. Forget about being able to pay any student loan and credit card debt either.

As you can see this is an impossible wage to live on. People also have families to support and unexpected expenses such as medical and car. Something needs to be done about this. Either prices need to go back to what they were 40 years ago or wages need to be higher.

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