Why $15 Hour Minimum Wage Helps Everyone
Only 67% of American adults are earning enough to cover basic living expenses.
Fortunately, Iowa is one of the top five states with the highest share of adults who are economically secure. It's my opinion that's because of a strong work ethic, and frugal spending habits, taught by responsible parents.
Just how much money does a single person living in Iowa need to earn to be considered financially secure?
$27,276 annually as a bare minimum, according to Institute for Women's Policy Research.
That comes out to about $13.11 an hour, if you're working 40 hours per week.
Needless to say that doesn't seem to leave a lot of room for any "extras".
It's no secret that most lower-income earners need to work 2 or more jobs to make ends meet because most employers are now only offering workers less than 29 hour per week, to avoid having to offer health care benefits.
That's why so many people are fighting for a $15 minimum wage. And if you look at the sample budget below you can see that they take a good chunk out for "taxes". Those taxes pay your politicians who should be fighting to get you a living wage.
A $15 hour minimum wage makes that budget plan above a possibility.
That helps everyone.