A living Wage Part 1: Misconceptions
By Isaiah O’Connor
In this episode, we tackle the complex debate surrounding the living wage, shedding light on common misconceptions and revealing the realities behind wage policies. We’ll discuss California’s recent decision to set a $20 minimum wage for fast food workers, which has resulted in widespread job losses and business closures, challenging the belief that raising the minimum wage universally benefits low-income workers. As we explore key data, we’ll differentiate between "minimum wage" and "living wage"—two terms often conflated in policy debates. By examining the demographics of minimum wage earners and their actual living situations, we aim to uncover whether higher wages truly alleviate poverty or, in some cases, create additional financial strain.
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Until next time, I have been,
Your Friendly Neighborhood Entrepreneur,
Isaiah O’Connor
