Minimum raise set to skyrocket to huge sums in new plans – how much could you earn?

A lawmaker in California has introduced an ambitious proposal to raise the minimum wage to $50 per hour, or or $100,000 a year.
Democratic Representative Barbara Lee contends that, given the affordability crisis in the San Francisco Bay Area, a family of four requires a minimum of $127,000 to maintain a basic standard of living.
Lee’s proposal implies that minimum wage workers would earn over $100,000 annually.
She made these remarks during a debate with Democratic Representatives Adam Schiff and Katie Porter of California, as well as Republican Representative Steve Garvey.
Both Schiff and Porter have advocated for raising the minimum wage to at least $20 per hour.
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However, Garvey has been hesitant to support such an increase, cautioning that it could result in higher expenses for Californians as these costs may eventually be transferred to consumers.
“Just do the math! Just do the math!” Lee urged. “Of course, we have national minimum wages that we need to raise to a living wage,” she said.
Garvey responded: “You’re talking about 20, 25 dollars, fine, but I have got to be focused on what California needs and what the affordability factor is when we calculate this wage.”
He continued: “Again, minimum wage is where it is and should be. If you look at what California has done to fast food franchises right now, increasing the minimum wage to $20.
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“Then what’s going to happen? That’s going to increase costs for hard-working Californians to go to a franchise.”
Schiff and Porter have historically shown a more cautious approach. In a debate earlier this year, Porter proposed a national minimum wage of approximately $20, with California’s rate set at $25.
Schiff echoed this sentiment by suggesting a $25 national minimum wage during the same discussion.
Last year, California enacted a plan to incrementally raise the minimum wage for healthcare workers to $25 per hour over the course of the next decade.
This decision came about through a new law signed by Democratic Governor Gavin Newsom in October.