The cost of living

Business & Economy Forum

I think everyone knows minimum wage does not cut it in the United States. What SHOULD the minimum wage be in order for people to make a living, take care of a family, and live a decent life including reasonable recreation/vacations?

This is taking into consideration that no one wants to work more than one job in order to make ends meet. I'm a firm believer that one job should be enough for anyone.

Considerations:
What needs does a person require to be met in order to survive in this economy?

What keeps people in poverty that an employer may have the power to change?

What is it about jobs that don't allow people to get ahead in life?

Etc.

I dont think its possible to raise the minimum wage much. To raise it means to raise prices on everthing to cover it, which puts the minimum wage earner right back where he was before he got the raise. Business owners are not going to be the losers in this or they will fold the business and do somthing else.

Just a thought

I think it depends on the type of business you're in. I'm in the information technology business and the labor categories are for skilled programmers, designers, and management.

The lowest paying category I have is for an office assistant (Level I) which does not require a college education, however, minimum wage is an insult.

I can't see paying less than $12 / hour as I don't want employees to have to take on two jobs in order to make ends meet. I'm not sure if this is a fair starting wage for someone without a college degree, but 2-3 years work experience.

Here is how I'm breaking down the cost of living:

Rent
Groceries
Auto
Insurance
Medical
Personal care
Training/Skills Advancement
Recreation
Retirement
Entertainment

This isn't taking into consideration the cost of children, as I don't know those needs. Perhaps someone can enlighten me.

My parents scratched Entertainment, Retirement, Recreation, half of the groceries, and settle for crappy insurance. Actaully, my step dad just got laid off again. He's gonna be one of the 400,000 claiming unemployment. I still wasn't eligable for any grants because I took out a loan right before my step dad lost his job. They were pulling in a combined $82,000/year, but their benefits are horrible, and they're taxed SO HIGH that they're getting nothing out of life. They work, sleep, work, sleep, work, sleep. Till they die.

This is what I hope to change. Your story is sad and it seems like it's common place in our country. The question is, how do we change it?

I know taxes account for a large chunk of an employee's paycheck.

I'm setting up a financial management class for my employees so they can get assistance in managing budgets and taxes. I'm also taking a certain percentage of the corporate's profits to set aside for employee emergencies and bonuses.

I feel that employers are responsible for their employees in more ways than providing them with a paycheck. If the employer is so demanding on them (especially salaried employees) and it prevents them from maintaining a healthy home life, this is the fault of the employer.

Here is what I want to offer employees and I really would appreciate feedback. I don't know yet what employees want.

12 paid holidays ( 2 are floating holidays)
Sick days
Personal days
Flex time
Cafetaria plan
Child care plan
Family leave
Tax filing services
Financial management services
Legal services
Clothing allowance
Travel allowance

Once each month we'll have a get-together to hand out awards, celebrate birthdays and anniversaries (including the employee families). Each month will be a theme celebrating a culture or an event. This is when bonus checks are distributed, and every employee receives one because I'm setting up profit sharing.

My goal is to allow employees to reap the benefits of a successful business. What good does it do if only the owners and top level people get perks? If they know the rewards of their production are going to be financial gain, they have a reason to think beyond their base salary. I know I would!

I've seen how my competitors treat their employees. They burn them out then throw them away.

I'm already setting up a wardrobe for my employees. I believe they should have everything they need to be successful.

Another benefit they get is business management. If an employee has reached the top in my company, what is left for them? I would rather help them start their own business than to lose them because they can't advance any more.

My philosophy in business management is that when you die, you can't take it with you, so make sure you bless as many people as you can while you are alive.

If I ever think of being a employee again, (which will be never!!!) I'm going to work for you, your aaahhhhhsom!!!!!!

Thanks kev! I've been in so many jobs where I daydream about how I would do things differently if I was the boss. I finally have an opportunity to make my dreams a reality.

That sounds great, just make sure it's always in the "private sector" otherwise the government will demand tax money to pay for it. You would be an awesome boss, there are NONE in America like you. It seems that starting at the smallest level, everyone's boss is trying to impress their boss. Everyone all the way up to the top. That top person, or people, pull in so much money, but they're responsible for paying 60% of the taxes in the country so they can't afford to give their employees the benefits they want.

I started at the bottom, as low as you can possibly go. I lived in my truck but I was stubborn enough to keep pressing on and overcoming obstacles.

This is why I have a heart for the homeless.

I'll never let my company go to public shareholders because they'll make me change the way I do business. It's pathetic that a founder of a company can be voted out of their own company.

I think of everything I wish I had when I was starting out in life, even as homeless and that's what's helped me become the type of boss that people will be able to relate to. I wasn't handed anything on a silver platter. I'll be able to understand tough times and financial emergencies.

I couldn't live with myself if I was living comfortably and my employees were suffering. We're going to be in this together.

I guess God gave me a heart for the people others throw away by putting me in their shoes and seeing them as human. I know where I've been and I'll never forget. I don't want to forget because if I do, I might forget what it was like to be the world's throwaway, and I'll end up doing the same to someone else.

Besides, I could never look my employees in the eyes if I knew they were struggling and I wasn't doing anything to help them.

Bravo----Keep charging--I love people who care! You won't change the world, but you'll change the live's of people you touch

WOW!! If every1 boss was like you I think the world will general be a better place. Most employees just want to be treated with respect and given their just due, not to be taken advanatage of. But with all your other fringe benefits, damn, who will be actually taking sick leave. Good luck and keeping thinking like you do please. Because I know many a people who have been changed by money, power, and greed. Keep faith!!

$6,000.00=$6,000,000.00

As long as people tune in, they will make the money they make. This applies to sports, talk shows, TV shows, movies, commercials, mags, anything!

If people are fed up with the costs paid to these people, then they should stop supporting them!