When the experts can’t agree on — and even inflate — the amount of money needed for an adequate standard of living, that’s a real barrier to Social Security reform.
Forbes post, “A ‘Living Wage’ Of $34,000? Bad Data, Or Bad Math, Will Stand In The Way Of Social Security Reform”
OK, perhaps you can answer the hypothetical question: Does raising the minimum wage devalue the Dollar? How would such a devaluation (if it does) effect the National Debt? Typically how long does it take for a worker currently making$14.50 per hour to make more than the minimum if the Federal M.W. was increased to $15.00 tomorrow? The FMW has staid stagnant while COLA increases have helped social security payouts, how would COLA be affected by $15.00 minimum? Why is the maximum fica so low? And lastly if $15.00 is good why not the Swiss Geneva $25.00 hr?
My union supports the concept of a $15.00 minimum, but I want to know more. So many questions…