$22.62 minimum wage!

[OnePercenter]

Sure, but how much?

Let's do the numbers!

An employee making $10.00/hr + 32% or $3.20/hr + healthcare $3.00/hr = $16.20/hr. Since this figure is 100% subsidized, after deductions is about 30%, or $4.86/hr which is the net cost of the employee.

Look, I realize that shitting on police cars is your one and only talent, still let us dissect the idiocy you posted...

An employee making $10.00/hr

Okay

+ 32% or $3.20/hr

32% for what? Where did you dream up this number?

+ healthcare $3.00/hr

Where the **** did you come up with this fiction?

ACA compliant health insurance STARTS at $624 a month for insured + dependents, and goes WAY up from there.

Since this figure is 100% subsidized,

It is?

after deductions is about 30%, or $4.86/hr which is the net cost of the employee.

What in the **** are you babbling about?

Stick to shitting on police cars, it's your only talent.

True story.

What's wrong, can't stand fact in your sociopath-conservative views?

 

[Indeependent]

Sure, but how much?

Let's do the numbers!

An employee making $10.00/hr + 32% or $3.20/hr + healthcare $3.00/hr = $16.20/hr. Since this figure is 100% subsidized, after deductions is about 30%, or $4.86/hr which is the net cost of the employee.

Look, I realize that shitting on police cars is your one and only talent, still let us dissect the idiocy you posted...

An employee making $10.00/hr

Okay

+ 32% or $3.20/hr

32% for what? Where did you dream up this number?

+ healthcare $3.00/hr

Where the **** did you come up with this fiction?

ACA compliant health insurance STARTS at $624 a month for insured + dependents, and goes WAY up from there.

Since this figure is 100% subsidized,

It is?

after deductions is about 30%, or $4.86/hr which is the net cost of the employee.

What in the **** are you babbling about?

Stick to shitting on police cars, it's your only talent.

True story.

The 32% is, I believe! a Federal employee tax.
If you hire an employee for 100K/year, you are taxed an additional 33K.
Apparently, OnePercenter has run a business and actually knows this.

 

[Uncensored2008]

What's wrong, can't stand fact in your sociopath-conservative views?

Try bouncing out a fact sometime, and let's test your thesis?

 

[boedicca]

If instead the federal minimum wage had grown at the same rate as one-percenter earnings, it would sit at $22.62 per hour today — 212 percent higher than the current wage floor.

More like $23.50/hr.

Where The Minimum Wage Would Be If The Top One Percent Didn't Leave Workers Behind

^^^ Propaganda for Low Info Morons ^^^

 

[RetiredGySgt]

Ya cause after all I wanna pay 5 dollars for a loaf of bread and 10 dollars for a gallon of milk.

 

[boedicca]

And you simply are a simpleton. No, raising peoples wage will not necessarily raise prices. What I'm saying is that the minimum wage should be set to at least a level that is above the poverty level.

$10 per hour is at poverty level.

Simpleton? A simpleton believes that increasing the cost of production does not impact the cost of said product, that is unless you, at the same time increase productivity. Do you propose a law demanding higher productivity?

I thought not

Sure, but how much?

Let's do the numbers!

An employee making $10.00/hr + 32% or $3.20/hr + healthcare $3.00/hr = $16.20/hr. Since this figure is 100% subsidized, after deductions is about 30%, or $4.86/hr which is the net cost of the employee.

Oh god, the heart break of economic illiteracy on parade ^^^

The business has to pay 100% cash for the compensation and benefits for the employee. There is NO ******* SUBSIDY if one pays 100% of the cost of the employee and pays standard income taxes.

I won't address why the tax code shouldn't be used to subsidize, reward, or punish behavior.

 

[Indeependent]

Or perhaps the CEO of an MNC can receive a 2 million dollar bonus rather than a six million dollar bonus?
The problem is that the ever shrinking professional middle class is taxed to subsidize the products and services received by the blue collar workforce.
Welfare, food stamps, ReaganCare, to name just a few.

 

[Indeependent]

Simpleton? A simpleton believes that increasing the cost of production does not impact the cost of said product, that is unless you, at the same time increase productivity. Do you propose a law demanding higher productivity?

I thought not

Sure, but how much?

Let's do the numbers!

An employee making $10.00/hr + 32% or $3.20/hr + healthcare $3.00/hr = $16.20/hr. Since this figure is 100% subsidized, after deductions is about 30%, or $4.86/hr which is the net cost of the employee.

Oh god, the heart break of economic illiteracy on parade ^^^

The business has to pay 100% cash for the compensation and benefits for the employee. There is NO ******* SUBSIDY if one pays 100% of the cost of the employee and pays standard income taxes.

I won't address why the tax code shouldn't be used to subsidize, reward, or punish behavior.

You know a business owner who pays standard income taxes?

 

[Uncensored2008]

The 32% is, I believe! a Federal employee tax.
If you hire an employee for 100K/year, you are taxed an additional 33K.
Apparently, OnePercenter has run a business and actually knows this.

My guess is that onepercenter lives in moms basement and smokes dope, just like you.

And there is no such thing as a "federal employee tax."

Employers must withhold and match Social Security and Medicare tax. This is 6.2%

We must pay federal unemployment (FUTA) tax that is over and above the state unemployment.

AND of course, Obama gouged us all with a special .9% extra medicare tax as part of the ACA.

But this is nowhere near 32%, so try an make up a different story that makes more sense?

Oh, for reference try Understanding Employment Taxes

 

[westwall]

That's about the most naïve statement ever made on these boards!! Minimum wage should be somewhere between 12 & 15 an hour in order for the working class to get off income assistance programs.

You are simply inflating everyone's wages by doing so, then costs follow and soon your minimum wage is substandard again. That is unless you believe that someone making $15 per hour now for harder jobs will be satisfied to earn a wage equal to a burger flipper.

Of course they won't, they will either demand the same increase or take the easier job for the equivalent pay. Inflation simply eats up the workers increase or they lose their jobs to those that have worked harder

And you simply are a simpleton. No, raising peoples wage will not necessarily raise prices. What I'm saying is that the minimum wage should be set to at least a level that is above the poverty level.

$10 per hour is at poverty level.

The Light Colonels I have known were better educated than you. How'd you slip through the cracks?

 

[tinydancer]

For onepercenter's sake, lets give every fast food restaurant and delivery service employees $25 per hour for going "you want fries with that?" and he'll be sobbing his ass off because there will be no more Boston Pizzas or Little Caesars delivered.



Starve in that basement kid. I'm not calling 911.

 

[boedicca]

Sure, but how much?

Let's do the numbers!

An employee making $10.00/hr + 32% or $3.20/hr + healthcare $3.00/hr = $16.20/hr. Since this figure is 100% subsidized, after deductions is about 30%, or $4.86/hr which is the net cost of the employee.

Oh god, the heart break of economic illiteracy on parade ^^^

The business has to pay 100% cash for the compensation and benefits for the employee. There is NO ******* SUBSIDY if one pays 100% of the cost of the employee and pays standard income taxes.

I won't address why the tax code shouldn't be used to subsidize, reward, or punish behavior.

You know a business owner who pays standard income taxes?

Yes. Many upon Many do.

 

[tinydancer]

You can tell what these kids don't have a clue what they are talking about. Why would I spend 20 bucks for a burger and fries?

They up the wages. People won't be going. The burgers suck big time in most places. Yeah you have your drive thru and quick convenience but not at high prices.

Hell's bells by the time the unions get done with fast food restaurants they'll be serving burgers for the same price I can buy kobe beef.

And I'd rather buy the kobe (wagyu is the killer of course) or pork tenderloin or the finest chicken breasts on the market.

I'll eat at home and dine fine thank you.

 

[Indeependent]

The 32% is, I believe! a Federal employee tax.
If you hire an employee for 100K/year, you are taxed an additional 33K.
Apparently, OnePercenter has run a business and actually knows this.

My guess is that onepercenter lives in moms basement and smokes dope, just like you.

And there is no such thing as a "federal employee tax."

Employers must withhold and match Social Security and Medicare tax. This is 6.2%

We must pay federal unemployment (FUTA) tax that is over and above the state unemployment.

AND of course, Obama gouged us all with a special .9% extra medicare tax as part of the ACA.

But this is nowhere near 32%, so try an make up a different story that makes more sense?

Oh, for reference try Understanding Employment Taxes

When I worked at Salomon Smith Barney in 1998 this was discussed so it might apply to certain types of corporations.
I will have to ask a few accountants about this.

 

[westwall]

The 32% is, I believe! a Federal employee tax.
If you hire an employee for 100K/year, you are taxed an additional 33K.
Apparently, OnePercenter has run a business and actually knows this.

My guess is that onepercenter lives in moms basement and smokes dope, just like you.

And there is no such thing as a "federal employee tax."

Employers must withhold and match Social Security and Medicare tax. This is 6.2%

We must pay federal unemployment (FUTA) tax that is over and above the state unemployment.

AND of course, Obama gouged us all with a special .9% extra medicare tax as part of the ACA.

But this is nowhere near 32%, so try an make up a different story that makes more sense?

Oh, for reference try Understanding Employment Taxes

When I worked at Salomon Smith Barney in 1998 this was discussed so it might apply to certain types of corporations.
I will have to ask a few accountants about this.

A good friend of mine was an IB at Salomon Bros. Which division were you in?

 

[RoadVirus]

People who advocate a raise of the minimum wage to $10 or $15 an hour have no grasp of economics.

Sure, McDonalds burger flippers and Wal-Mart greeters will get paid more, but to make up for lost profit, prices increase and # of layoffs increase (or corporations slow hiring). And guess what? Those 2 factors bring down the economy.

 

[boedicca]

People who advocate a raise of the minimum wage to $10 or $15 an hour have no grasp of economics.

Sure, McDonalds burger flippers and Wal-Mart greeters will get paid more, but to make up for lost profit, prices increase and # of layoffs increase (or corporations slow hiring). And guess what? Those 2 factors bring down the economy.

They won't get paid more. They'll be replace by robots and automation.

 

[eflatminor]

More like $23.50/hr

Yea, I too hate people with little education, low IQs, physical limitations, or no working experience. **** those assholes, they should be prevented from working by a minimum wage. We need more people on the dole dammit! I'm right there with you comrade.

I also support the increase in the price of goods that minimum wage causes, especially since it tends to be the very goods the people on minimum wage must buy to survive. Awesome! Just like you, I too hate poor people.

More central planning of the economy, what could be better?!

 

[Desperado]

Really a minimum wage of $22.62, even the suggested $15.00 an hour for fast food employees would make eating at McDonald as pricey as eating at Ruth's Chris Steakhouse. I believe that Pop23 made an excellent point, the blow back from more skilled workers demanding more money would set off a a major labor problem for all companies.

Let's talk about the real problem, the worth of the US Dollar:
The computations in the calculator are based on the annual Consumer Price Indices (CPI) from 1913 through 2012, which are published by the U.S. Bureau of Labor Statistics.

For the salary example, the conversion of the 2007 salary to 1970 dollars is done using the following procedure:

2007 Salary in 1970 dollars = 2007 salary * (1970 CPI / 2007 CPI)
2007 Salary in 1970 dollars = 200000 * (38.8 / 207.3)
2007 Salary in 1970 dollars = $37,433.67

The conversion of the 1970 salary to 2007 dollars is done using the following procedure:

1970 Salary in 2007 dollars = 1970 salary * (2007 CPI / 1970 CPI)
1970 Salary in 2007 dollars = 50000 * (207.3 / 38.8)
1970 Salary in 2007 dollars = $267,139.18

Purchasing Power Calculator - See How Inflation Erodes Your Purchasing Power

 

[Rozman]

Minimum wage $23.50...
That's an insult.
I won't even consider this until we start to talk about minimum wage being at least $25.00
Then at least we can have a discussion...