It is easy to assume that the minimum wage would also be the limit defining a bare-subsistence living wage. A living wage is reality, and highly individual. Minimum wage is political, and has little to do with assessments of what citizens need to live. Depending on an individual’s household, there are no counties in the US where the minimum wage exceeds a living wage. The consequences are increased services for the poor, economic losses from health care, increased crime, and a large segment of the population for whom, “Life, Liberty, and the Pursuit of Happiness”, is a nice, but theoretical idea. The most likely successful strategy is to remain single (and move to rural Washington State.)
“Given the pattern across the rest of the OECD, a group of mostly rich countries, one would expect America, where GDP per person is $53,000, to pay a minimum wage around $12 an hour. That would mean a raise of about 65% for Americans earning the minimum pay rate.” – The Economist
(Click on the map for the link.)
“Mapping The Difference Between Minimum Wage And Cost Of Living” – CityLab
Pretending Not To Panic 