minimum wage- the lowest wage permitted by law or by a special agreement (such as one with a labor union).
living wage-a wage that is high enough to maintain a normal standard of living.
the difference between the to is that one is higher and the other one is lower.
poverty threshold-The poverty threshold, or poverty line, is the minimum level of income deemed adequate in a given country.
23,550 is the poverty threshold in the united states for a family of 4.
The federal minimum wage is $7.25 per hour, but that figure varies depending on where you live.
The minimum wage has not always left a single income-earner for a family of three so far below the poverty line.