General Discussion
In reply to the discussion: Do you think the Federal minimum wage should be $15 per hour? [View all]marym625
(17,997 posts)What I said was "should be" and stated qualifying someone for more than that is wrong. It was a good guideline because it's realistic. Hence the unbelievable number of foreclosures in this country. I left because of the push to qualify people for more than they should because the banks bet on people to lose their homes. And nothing in that practice has changed.
I will happily share how I came to the bring home pay but will have to do it tomorrow. I am no longer near a computer. But with 7.65% SS&MEDICARE, $7800 deduction, the tax was well over $5k. Plus a 3% State tax, assuming they live in almost any State in the union.
You might want to read some studies by economists on how a minimum wage increase helps the economy. Also on what it would be now if it grew as it should have with inflation and productivity.
Before the corporate welfare and monopolies, with outrageous and egress bonuses to C level employees, the idea that a corporation will hurt because it paid its employees a living wage was a non issue. Just like all the bs about companies having to close and raise their prices if the ACA was enacted, the argument that a $15 per hour minimum wage will hurt the economy is just plain wrong.
http://www.rdwolff.com/content/minimum-wage-blog
http://www.creators.com/liberal/david-sirota/dont-pity-the-billionaire.html
http://www.smirkingchimp.com/thread/yellow/54944/more-evidence-to-support-a-minimum-wage-increase
http://www.nationalmemo.com/gops-minimum-wage-hysteria-overblown/
http://www.rdwolff.com/content/global-capitalism-june-2014-monthly-update