Minimum wage is meant to be a living wage, but falls short by a lot
By Andrew Bloomenthal
Investopedia, Aug 18, 2020
The federal minimum wage in the United States is $7.25. It is meant to be a living wage, but this isn't the case in practice. The hourly rate hasn’t kept up with the cost of living since the late 1960s. ...
In 1933, five years before the first minimum wage became law, President Franklin Delano Roosevelt said: “By living wages, I mean more than a bare subsistence level. I mean the wages of a decent living." ...