what a fun chart.
"poverty thresholds were inflated form the 2012 census based on cbo projected inflation projections, which were based on cbo projections and proposals to do shit that wont make a lick of difference, assuming everybody works 40 hours a week 52 weeks a year and assuming the author is not an idiot"
the REAL numbers:
1968 (the first year there actually was an official "Poverty Line" )
poverty line for a family of 4: $4235.00/year. (not adjusted for inflation, which we totally dont have anyway...) source: (a)
federal minimum hourly wage: $1.62 source: (b)
so, 40 hours a week x 52 weeks/year x $1.62 hourly minimum wage = $3369.60
ZOMG THAT'S BELOW THE POVERTY LINE!1!!!!!11!!!!!one !!!!1!!!!uno!!!!!!!!11!
No Shit Sherlock. the minimum wage was never intended to be a "living wage" or a tradesman's wage. it was instituted to prevent "exploitation" of desperate people, but in a town with ZERO jobs, even a shitty job paying less than $5/hour is a welcome thing, why do you think mexicans come to america to pick lettuce for $0.10 a bushel?
the poverty line for a family of four in 2013 is $23550.00 (5x higher. nope, no inflation there folks... ) source: (c)
the federal minimum wage is currently $5.75/hour.
so, 40 hours a week x 52 weeks/year x $5.75 min hourly wage = $11960.00 (3.59 x higher than 1968. yep. the feds are doing a great job keeping up with the inflation that we dont have...)
if you assume that 1968 (those glorious halcyon days liberals love to look back on with wistful tears) is the benchmark, then the federal minimum wage should be raised to $8.10/hour (exactly 5x the 1968 minimum wage, to account for the inflation we dont have)
while this means certain people in alabama and wyoming will be getting a pay increase, it wont do shit in most states which already have rates close to, or above $8.10/hour.
arguing for a DOUBLING of the minimum wage to $12 or $14/hour will simply fuck over an already shaky small business economy, and will shutter businesses with tight margins and high labour costs (like food service).
even raising the minimum wage to $8.10 will result in more illegal alien hiring to dodge the wage increase (and the comensurate increases in payroll taxes, SS, Medicare, disability,unemployment, etc) which will drive MORE unemployment.
until we have nearly zero unemployment, raising the minimum wage will only spur more inflation, and more unemployment.
(a)
https://www.census.gov/hhes/www/poverty/data/threshld/thresh68.html
(b)
http://www.dol.gov/whd/state/stateMinWageHis.htm
(c)
http://aspe.hhs.gov/poverty/13poverty.cfm