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QUESTION
Make your initial post with your current knowledge: Write a short paragraph responding to this scenario: Consider the Smith family of four living...
Make your initial post with your current knowledge:
Write a short paragraph responding to this scenario:
Consider the Smith family of four living across the street from you in your neighborhood/State. The Smiths have a comfortable lifestyle. They do not earn an outrageous amount of money, however, they consider themselves having a comfortable lifestyle.
- In your opinion, describe briefly what a comfortable lifestyle looks like in your neighborhood.
- In your opinion what is the Smith's annual household income to maintain a comfortable lifestyle in your neighborhood?
- Lastly, assume the annual household income is earned by one person. Calculate the hourly wage for this annual income amount.
- Do you know the current federal minimum wage? How about your State minimum wage? What is it?
For your reply:
After reading your text, make your reply post addressing the following bullet items. Support your opinions.
- Compare your description of a comfortable lifestyle to another written by one of your peers. How are they different?
- Do you think minimum wage should have remained flat for so many years?
- Should minimum wage receive annual cost-of living adjustments (COLA) like Social Security? Why?
- How does your hourly wage calculation from the Smith family compare to the federal minimum wage? Can the Smith family have a comfortable lifestyle making minimum wage? What if the Smith household was a two income family both on minimum wage? Could they maintain their comfortable lifestyle?
- Who is impacted by the minimum wage changes? Positively or negatively? How does it impact you?
