One of the issues that is debated in virtually every election is whether to raise the federal minimum wage, which stood at $7.25 per hour in 2018. Suppose that you are married with a child, working a 40-hour week in a minimum wage job. By assuming that you pay taxes of about 10 percent of your total pay, how much do you “take home” each month? How much does it cost to rent a “reasonable” apartment near where you live? How much would you have left after paying rent? How much would it cost for other items such as food? Work out a hypothetical “budget” for this family.