New York City residents are struggling to survive on the minimum wage of $7.25 per hour. A large part of New York City residents are currenty living at or near the poverty level and things NEED to change for our residents so our city can truly flourish.
*15$ A Hour is just the beginning of a struggle to improve the quality of life and economic justice for the 99% in New York City for the following reasons:
1. Your quality of life is adversely affected if you spend more than 50% of your net income or salary on basic necessities like rent, food, electricity, health care and other needs.
2. Debt and interest rates from credit cards and or student loans are higher than monthly salaries.
3. The average rent on an apartment in New York City shot up to $3,017 a month this quarter, according to data compiled by REIS, a real estate research firm. Even at 15$ an hour, a 40 hour work week equals 2,400 a month BEFORE taxes.
3. In 2011, 46 percent of New Yorkers were considered either poor or almost-poor. (The income gap in New York City is comparable to those of some sub-Saharan African countries) according to the NY Times.
4. The New York Times reports the average price to buy a Manhattan apartment was a "stratospheric $1.425 million" this spring.
5. ‘Official’ City estimates show that One out of every five New Yorkers, 1.7 million people, lives below the federal poverty line and one out of every ten New Yorkers has a full or part-time job and still lives below the poverty line.
6. Multi-Trillion dollar banks like Chase make millions of dollars off of public assistance recipients by processing their cash allotments from their food/cash assistance cards.
7. According to a study by Picture the Homeless, there are more habitable and abandoned buildings in New York City than there are homeless people.
8. The City provides shelter to more than 20,000 homeless children each night costing it more money than the cost of providing rental subsidies to house them in apartments.
9. It would cost the city 33$ a day to house someone in an apt but instead subcontractors charge the city 137 dollars to house in a shelter. And It costs $36,000 a year to shelter a homeless family in New York City. In comparison, a rental voucher is $10,000 a year says Patrick Markee, a policy analyst at the non-profit Coalition for the Homeless.
10. A progressive tax on Wall Street/Stock market would bring in billions of dollars potentially paying for the entire subway system, salaries of teachers, firefighters, public and private sector workers, improve public services, community and health care centers and hospitals, as well as a variety of others needs for the 99%.