I was wondering if someone on D.U. has an idea about how much 10.00 an hour is worth in

[midnight]

our economy?

[jberryhill]

1. For $50 an hour, I'd tell you

[midnight]

10. Your humor, I'm sure is worth every dime.....

[jberryhill]

15. PM me for a full refund

[Angry Dragon]

2. If the minimum wage would have keep up to inflation it would be at least $20/hr

[midnight]

11. So.... To pay a person ten an hour with no benefits should be discussed in this election.....

[Angry Dragon]

14. Exec pay used to be 30 times the lower paid person

now it is 300+ ............ you tell me what we should talk about
The money is going to the top, it has to go to the bottom so there can be demand for goods, that will create jobs.

Within the last couple of days there were some OPs talking about some reports that found that higher exec pay failed to do what they are suppose to do.

[midnight]

30. I think we should talk about how in the world people are suppose to pay insurance premiums for

health care, transportation expenses to get to work, clothing and food.... Because if it so doable on 10.00 an hour job, then why do our elected officials need to be payed so much....

[thecrow]

3. I saw a site the other day

that tells you what Mitt makes for a certain task in your life..... like cooking dinner was about $3000...
I've lost the link, but it was something like whatmittmakes.com or something.

[CanisCrocinus]

21. here it is:

http://romneymakes.com/

[midnight]

31. Mitt makes 10,406 an hour. That is why his wife can afford the health care that makes her able to

live a better life with her chronic health issues...

Mitt makes 10,406 vs 10.00 an hour job.... I wonder if anyone else sees this as a reason why this country is not progressing?

[ruffburr]

4. Not being an economist

All I know is I was paid 10.00 an hr in the 70's for framing houses, What does that tell ya

[Dyedinthewoolliberal]

17. In 1973

I was working on the assembly line in Wixom, Michigan building Mark IV's, TBirds and Lincoln Town Cars. I think I was making about 8.25 an hour. Lotta money then. Zilch now.

[michreject]

22. I started at GM in 76

Chevrolet gear and axle on Holbrook. Local 235.

My starting pay was 4.98 an hour with 1.25 cost of living for a total of 6.23 an hour. It was a UAW/GM contract wage.

How'd you make so much?

[Dyedinthewoolliberal]

41. Maybe I'm not remembering correctly.

I'm old! but seriously that number sticks around when I think of that job. Maybe with wage and COLA it was around $8. Maybe we got more for being in the assembly plant versus components?

[HiPointDem]

34. I got about $7 as an entry-level clerk-typist (40 wpm cutoff) at Boeing. I thought I was living

large.

[Nye Bevan]

5. About 17 cents per minute (nt)

[opiate69]

6. Depending on ones W4 deductions,

somewhere around $1200 a month take-home.

[Xipe Totec]

7. Multiply by 2000 to get an approximate annual income

That's $20K per year roughly, and the poverty line for a single person is $11K, but for a family of four it's $23K

Median income per family in the US is around $40K

So, not a bad starting salary for a single person.

Very bad to support a family of four.

http://en.wikipedia.org/wiki/Poverty_in_the_United_States

[midnight]

32. Most Americans (58.5%) will spend at least one year below the poverty line at some point between age

25 and 75.[6]

Found this at the link you provided... But wonder how can this be when we have laws on the books to create jobs for those in this great country...

[2on2u]

8. 5 dollars an hour nets you about 10,000/year, 10 doubles that so you can take it from there.

[Hippo_Tron]

9. Depends on where you live

Having lived in both big cities and tiny towns, I'd say that I could live comfortably in the small town on $10 an hour and insurance. In a big city, that would be tougher.

[coldwaterintheface]

18. It's a shitty pay check no matter where one lives

[Hippo_Tron]

23. In the grand scheme of things, I agree

Just saying that with benefits it's manageable when you're just starting out with no kids in some areas of the country. Others, not so much. "Manageable" doesn't make it not shitty, when you consider how much of the wealth in this country is controlled by so few.

[HiPointDem]

35. +1

[dkf]

12. I'm sure it goes a lot farther in Mississippi than in New York.

[loli phabay]

20. also you got to ask what are you working as for 10 bucks an hour, if its as a sleep test subject

then i would do it, pay is subjective as it depends on where you are and what you are doing.

[HubertHeaver]

13. Use the price of regular gasoline as an index.

In 1972-1973, I paid <$.35 per gallon of regular gas, self-pumped. (Northern Illinois, outside the Chicago Metro area.) Now I pay >$3.50 per gallon, self-pumped. (Central Texas, Austin Metro area.) That is an approximate multiple of 10. So the volume of gasoline you could by for $10.00 in early '70s will cost you $100.00 now.

Another way to look at it, $10.00 per hour now translates to $1.00 per hour, early '70s. In either time period, you starve.

[midnight]

37. It sure does seem like 10.00 and hour translates into a starving wage....

[MercutioATC]

16. Perhaps if you explained what you meant?

The only real answer is that $10/hour is worth $10/hour in our economy.

If prices go up by a measurable amount, reduce the "worth" of that $10 by the increase in prices.

If prices go down by a measurable amount, Increase the "worth" of that $10 by the amount of the decrease.

[midnight]

33. I was listening to a man justify his anger at people he had offered a ten dollar an hour job who

would not take it because their unemployment payed them more.

This man had other issues. He connected this unemployment issue to his racially offensive views of Obama.

I have become concerned as the economy provides fewer jobs above 10.00 an hour how does this translate into being able to live...

[MercutioATC]

42. $10/hour employed full time represents $20,800/year.

Essentially, it's a subsistence-level wage in many areas of the country but, depending on the job, it's not an unfair wage to offer (and it's well above minimum wage).

[Voice for Peace]

19. a gram of medicinal pot/hour

but I think it all depends on how all your expenses add up.

If you have almost no cost of living expenses, $10/hour can go a long way.

If you have to pay rent and buy decent food, and get medical attention, $10/hour doesn't do much except wear you down.

[Ohio Joe]

25. I get mine by the ounce

I get what is often referred to as "joint mix" and it goes great in my vaporizer. Only $50-60 and it will last me three weeks.

[Ohio Joe]

24. Speaking as someone currently making $12 an hour, I have a pretty good idea

It sucks.

[MADem]

26. Where do you live? In NYC, ten bucks buys next to nothing.

In Presque Isle, Maine, or Shaw, Mississippi, it buys a bit more.

[HopelesslyLiberal]

27. What kind of answer are you looking for?

[obxhead]

28. Next to nothing

As someone in that pay range I can say that with authority.

[TheKentuckian]

29. $5 below being able to afford to pay attention, $10 under being ok, $15 under

entry to some actual semblance of middle class, and only 5-10% of what Weird WilLIARd might identify as very little, if it is him and his, if you multiply it over a year.

It is money that high school kids should be making not something to pretend is alright for people trying to make it and have some basic security.

[hobbit709]

36. Barely above sleeping under the overpass level.

[midnight]

38. I think should be a response to those offering this money to those who need a living wage....

[HiPointDem]

39. It's about $6 an hour under current median wage. Which means pretty damn low.

http://www.bls.gov/oes/current/oes_nat.htm#00-0000

It's the equivalent of $3.37 in 1979. Which was about 16% higher than the 1979 minimum wage of $2.90 ($8.59 in 2010 dollars).

Today's minimum wage is $7.25, or $2.45 in 1979 dollars.

$10/hr is 38% higher than today's minimum wage, but only 16% higher than the 1979 minimum wage.

[Selatius]

40. Try living on 20,000/yr and see how far you can go. That's 10.00/hr in 40 hrs for 52 weeks roughly.

It's not a lot of money.