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In reply to the discussion: Do you think the Federal minimum wage should be $15 per hour? [View all]delete_bush
(1,712 posts)120. The figure DOES include taxes and insurance
The monthly principal/interest on a $270,000 loan at 4% is $1,289.
How did you calculate "bring home" pay?
Married filing jointly on $60K seems to around $5K to the feds, SS/Med would be $4,600, giving a monthly take home of $4,200. I threw in an extra $100 for other taxes which may or may not apply. I'm really don't care if the Burger King Couple lives in Iowa or Texas, so state and other income taxes are rather arbitrary.
Are you in the mortgage loan business?
The multiple sources I looked at indicated that a $60,000 income with no outstanding debt would qualify for a $285,000 loan. There are plenty of sites out there coming up with the same general number so I have to ask you're just guessing.
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Where is that house located? In Miami, with the size of the land it appears to have, that would be
Ghost in the Machine
Sep 2014
#88
Thank you, and my bad... I thought the post said that house was only $60,000 when in actuality
Ghost in the Machine
Sep 2014
#98
Why do you think I would I want to hear it? Nothing in any of my posts suggests
merrily
Sep 2014
#43
Also true, yet many employers don't pay enough to make employees loyal and happy.
merrily
Sep 2014
#40
The number cited is also refered to in 'Fordlandia: The Rise and Fall of Henry Ford's Forgotten Jung
LanternWaste
Sep 2014
#117
But do you agree that minimum wage increases wouldn't be directly passed to consumers?
Taitertots
Sep 2014
#68
By your own admission, you're not sure of the average wage and just set it at $10
Hippo_Tron
Sep 2014
#81
$15 now gives people the ability to lobby for $22. As it is, their lives are chaotic and they can't.
freshwest
Sep 2014
#65
Not only that, but the reductionists who oppose the raise because they make more will get one, too.
freshwest
Sep 2014
#66
If minimum wage were to raise to $15/hour, would other wages also rise accordingly?
uppityperson
Sep 2014
#12
If they are going to talk about a living wage then it should definitely be that much.
jwirr
Sep 2014
#17
We need to make sure that COLA is adjusted properly for SS and get rid of H-1B too...
cascadiance
Sep 2014
#33
A "burger flipper's" time and labor should be keyed by some other profession's pay?
Scootaloo
Sep 2014
#78
Where is the idea that I have distain for minimum wage employees coming from?
NightWatcher
Sep 2014
#103
That's the most common argument against raising minimum wage, and it's misguided
Orrex
Sep 2014
#105
Not only do I think it should be $15 an hour, I think it should be a goddamned litmus test. nt
conservaphobe
Sep 2014
#35
If nothing else, I'd like sub minimum for restaurant servers raised to 5.50
Algernon Moncrieff
Sep 2014
#72
Realistically, it would take years to change the culture in America -- if it could be done.
Algernon Moncrieff
Sep 2014
#76
They are in San Francisco. All wait staff are paid at least minimum wage which is $10.74 an hour.
Luminous Animal
Sep 2014
#119
Just think what that would do for the middle class in this country. It might save us.
YOHABLO
Sep 2014
#86
What do you mean "sorry...". You aren't sorry. Workers deserve a living wage, period.
CreekDog
Sep 2014
#113
I don't disagree at all, but gradualism will probably be necessary here.
nomorenomore08
Sep 2014
#144