Proof Is In The Pudding: They Want You To Live In Poverty! Poverty line for 2012 was set at $23,050 (total yearly income) for a family of four... 40 hrs. a week at $10.10 per hr. = $404.00 weekly Monthly income = $1,616 Yearly income = $19,392 -15% Federal Tax for Head of Household = $16,484 per year - actual income. POINTS: 1).Federal Poverty Line 2012 = $23,050 2).Federal Minimum Wage Per Year After $10.10 Increase = $19,392 3). Federal Short Comings After New $10.10 Minimum Standard = - $3,265 (blow poverty 2012 line). 4). After 15% Federal Tax for Head of Household making $19,392 = -$2,908 per year = $16,484 per year - actual income. 5). Federal Short Comings After 15% Tax = $6,173 per year below the 2012 Federal Poverty Line. Note: NO-ONE working full-time for any U.S. Government Agency should live below the poverty line. Neither should anyone working for any sized business, full-time, within the United States of America...benefits dont pay monthly bills folks. Conclusion: The minimum wage is not worth the related stress... Solution: Request No Less Than - $16.50 for a minimum hourly wage in 2014, or $31,680 as a minimum annual salary. 2014 minimum income should = $31,680 -15% Federal Tax (for family of four) = $4,752 Actual minimum income should = $26,928 or $3,878 above the 2012 Federal poverty line (for family of four). Minimum Cost of living increase for 2014 from 2012 should = $3,878 for cost of living increase per employee.
Posted on: Sat, 03 Jan 2015 20:03:03 +0000
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