Looking at the wealthiest countries in the world, you will surely be perplexed. The economic strategy of America should be that if a worker works for 40 hours or more a weak, he should not live in poverty? Unfortunately, that is not the real matter today! Obviously, the workers work in such a minimum wage that cannot make their ends meet.
While large companies make record-breaking profits, and top CEOs earning 335 times more per hour than the average workers, millions of Americans are trying to survive their existence for inadequate wages. This situation does not only persist in a single state of America but also in the most of them. It is pathetic to learn that a full-time minimum wage worker in America cannot afford to rent an apartment with two bedrooms.
The current federal minimum wage, $7.25 an hour is a starvation wage. Mustn’t it be raised to a living wage? If it is raised to $15 per hour, it will automatically adjust the rising cost of living the years ahead.
Since 1968, people are unable to purchase more than 25 percent of essential products with their minimum wages. For this reason, more than 43 million Americans are living in poverty. The housing costs, childcare, schooling costs, college costs, total health care cost, etc. are all going up day by day, but the wage is not increasing proportionately.
If the wages have been raised by phasing, millions of workers will be able to improve the standards of living, and they will see themselves out of poverty. A bill in this regard has been raised to save millions of full-time workers.
If this becomes true to the richest economies in the world, what would be the condition of the Indian workers? The minimum wage of an Indian worker is 160 rupees per day. On the 1st September 2015, the labours of unemployed organisations arranged a nationwide strike to increase it by 273 rupees per day in place of 160 rupees. The bill is yet to be implemented.
You may argue with me about the cost of living of improved and improving countries. The employees of the countries with lower cost of living like India are, no doubt, suffering from the same fate. What will you fulfil with an amount of Rs. 4,800 INR per month, with which one person cannot lead his life easily?
When a fulltime worker works for a month and earns such a scanty amount, the dream of being rich will remain unfulfilled for life. Can a person fulfil the entire demand of life with this scanty amount of wage? They actually stay below the poverty level. How can a poverty-stricken family invest a little to educate its children? If the future generation cannot get the opportunity of higher education, how that family will see the better future? Where the survival of existence shows a great question mark, the dream of being rich is nothing but a nightmare!