In February I asked is it Time to Raise The Minimum Wage? Recently, McDonald’s (yes, the purveyors of fine hamburgers) offered up a budgeting guide for its employees.
It starts by assuming a second income. Which, in a sense, proves that minimum wage isn’t quite a living wage. I’m struggling with this budget, and trying to understand McD’s motive for it. If it’s an attempt to make the case that this income is enough to survive, it clearly misses the goal. Last I checked, if you don’t eat, you die, eventually. Where do you see food on this budget? Clothing? Haircuts? (I did go nearly a year without a professional haircut, but my wife and daughter put a stop to the home cuts.)
I’d also like to know where one can get a health insurance policy for $20 per month.
As I mentioned in my minimum wage article, I remember $3.10 an hour. For me, it wasn’t a living wage, it was beer money. My attitude back then was “I spent most of my money on women and beer, the rest, I wasted.” But even then, I had coworkers who weren’t high school or college students, they were adults for whom this money was their family income. I don’t know what their spouses did, hopefully this was a second income. As I see the unemployment rate refuse to drop as it should in any real economic expansion and I hear that people aren’t returning to full employment, but a hodgepodge of part time work, I’m concerned about where the middle class is heading.
Can you live on the budget above? What else do you see missing?