What If A $25 Per Hour Minimum Wage Existed?
If I were to ask you if you are underpaid for the work you do, you'd probably say yes. That's how those working for minimum wage around the world feel. Here in Texas, minimum wage is $7.25 an hour. How does anyone survive on that?
Even $10 an hour is an unlivable wage when you are out on your own. Many people have to work multiple jobs just to survive. I'm still shaking my head at minimum wage being $7.25 an hour.
According to a report from our news partners, KWTX, voters in Geneva, Switzerland have agreed to raise minimum wage there to $25 an hour. That wage is set to go into effect on November 1st for about 30,000 workers.
The Economist Intelligence Unit released results form a survey that says Geneva is the 10th most expensive city in which to live in the world. New York finished 4th on that list, and minimum wage there is $15 an hour. Los Angeles finished 8th at $13 an hour.
$25 an hour for minimum wage sounds great, but in reality it could put a lot of small businesses out of business. Even still, we have to address the $7.25 and hour that exists now. Does that mean raising the minimum wage, finding some way to reduce the costs of living, or making it easier to access schooling and job training? What do you think?