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Schwarzenegger Terminates Full Salaries of State Employees
California Gov. Arnold Schwarzenegger is a man of his word this week. His threat to significantly cut the salaries of 200,000 state employees if lawmakers failed to produce a budget turned into reality when he signed an executive order reducing their pay to $6.55 an hour.
Schwarzenegger's Wage Threat: A State Employee's Reaction
As California Democrats and Republicans struggle to find a satisfactory compromise and seal the deal on a new and overdue state budget, Gov. Arnold Schwarzenegger's frustration has risen to the point of making threats. He's considering an executive order that would reduce 200,000 state employees' salaries to the $6.55 per hour federal minimum wage, which CitizenSugar points out is $1.45 less than the state's minimum wage.
What Do You Know About the Minimum Wage?
Later this month the federal government and several states will increase their minimum wages. Even after the raise, 24 states and the District of Columbia will have minimum wages higher than the new federal wage of $6.55. What do you know about the minimum wage as it stands today?
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Social Security Benefits in 2041 Below Minimum Wage Income
If you haven't already been convinced that committing to retirement savings isn't really up for argument, consider these statements from the Social Security Administration. The average monthly benefit in June 2008 was $1,084.47, but in 2041 Social Security will only be able to pay 78 percent of scheduled benefits. The Motley Fool has calculated the inflation-adjusted equivalent to be $845.89 per month.
Is It Acceptable For Cafe Owners to Take Tips From Servers?
The owners of a Philadelphia cafe think it's OK to confiscate tips meant for servers, and explained their actions as being for the good of the community. They said they were collecting tips in order to help pay for restaurant renovations that would benefit everyone, including customers and employees. The cafe owners added to their defense that they pay their servers above minimum wage to start, and the server who outed the tip pirates said that wage is $7 per hour.
Should Paid Sick Time Be an Employment Standard?
Many of you admit that you go to work sick because you're too busy to miss work, but for 46 million US workers it's not the workload that's keeping them from taking time off, it's that they don't have the benefit of paid sick leave. Advocates of proposed state bills mandating paid sick leave are hoping legislation would expand existing benefits and add new ones.
Come November, voters in 12 states, including California, Connecticut, Minnesota and West Virginia, will have the chance to share their feelings about proposed state laws that would enforce businesses to offer paid sick leave.
News Flash: 99 Cent Stores to Abandon 99 Cent Philosophy?
- A higher minimum wage and increased commodity prices have the 99 Cents Only Stores chain considering bumping some prices above 99 cents. The company's CEO hopes customers will focus on prices as great values and not whether an item is 99 cents. — The Los Angeles Times
- Here come the advertisements: Airlines are pursuing more aggressive in-flight marketing deals to combat fuel costs.
Do You Know What Is Normal Retirement Age?
It may seem like a faraway reality unless you plan on retiring young, but retirement issues affect us all today because of the Social Security system in the US. The Social Security Administration has admitted that young workers won't be able to count on our less-than-minimum-wage benefits through retirement, and there's some discussion about whether or not it makes sense to raise the retirement age.
Do you know how old you must be in order to receive full Social Security benefits during retirement?
The Presidential Hopefuls and Your Pocketbook
The New York Post put together this awesome chart that breaks down where the presidential hopefuls stand on six key issues — taxes, health care, trade, minimum wage, mortgage fraud, and the environment. Use it as a reference to make sense of what they've been debating about and everything you'll be hearing in the coming months — who doesn't love cheat sheets that make life easier?!
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