Poor working people can face a higher tax rate than the 1 percenters

[ScreamingEagle]

Poor workers may face an effective higher tax rate than the 1 percenters on their Minimum Wage increases that Obama and the Dims want.....meaning the Government could end up with getting back more than HALF of a poor person's increased minimum wage...nice huh..?

here is an example of a single mother with one child who is making minimum wage...

$2.85/hr....the proposed government increase
-0.24.........loss in EITC (Earned Income Tax Credit)
-0.91.........loss in SNAP benefits (food stamps)
-0.06.........loss in LHEAP benefits (heating help)
-0.22.........higher payroll taxes
_____
$1.42/hr....Single working mom's share
$1.43/hr....Federal government's share.....over 50% of her wage increase taken back....

this does NOT include any increased State income taxes...
OR losing other state or local benefits...
OR the possibility she may lose her Medicaid due to higher income and have to buy Obamacare which means she could possibly be made even poorer than before...

Increasing the minimum wage appears to benefit the Federal government more than the poor worker...is that the real reason why Obama and the Dems are pushing it....?

The minimum wage is an incredibly inefficient way to help the poor because many of the gains go to households that are not in or even near poverty and because the increases in labor costs lead to price increases that must be paid by customers who are often the same low-wage workers supposedly being helped. Still, President Obama has backed that option rather than the seemingly superior policy of increasing the Earned Income Tax Credit.

Obama's Wage 'Compassion' Means Poor Face A Higher Effective Tax Rate Than 1 Percenters - Forbes

 

[PaintMyHouse]

Increasing the minimum wage appears to benefit the Federal government more than the poor worker.

Utter nonsense. If I offer you an extra $2 an hour but I take back even as much as a buck of that in taxes you are still $1 ahead of where you were. Learn to do math and think for the love of god.

 

[ScreamingEagle]

Increasing the minimum wage appears to benefit the Federal government more than the poor worker.

Utter nonsense. If I offer you an extra $2 an hour but I take back even as much as a buck of that in taxes you are still $1 ahead of where you were. Learn to do math and think for the love of god.

that is not what is being claimed.....however if she has to go buy Obamacare instead of getting free Medicaid it could eat up every extra dollar she got plus some...

 

[PaintMyHouse]

Increasing the minimum wage appears to benefit the Federal government more than the poor worker.

Utter nonsense. If I offer you an extra $2 an hour but I take back even as much as a buck of that in taxes you are still $1 ahead of where you were. Learn to do math and think for the love of god.

that is not what is being claimed.....however if she has to go buy Obamacare instead of getting free Medicaid it could eat up every extra dollar she got plus some...

That is the risk of making both too little and too much. It happens.

 

[PredFan]

The real problem with increasing the minimum wage is the already devalued dollar. Liberals don't know where money comes from they think it literally falls out of the sky. They haven't the intellectual or logical capacity to understand what it will do to the economy, the poor, the rich, and everyone in between.

 

[PaintMyHouse]

The real problem with increasing the minimum wage is the already devalued dollar. Liberals don't know where money comes from they think it literally falls out of the sky. They haven't the intellectual or logical capacity to understand what it will do to the economy, the poor, the rich, and everyone in between.

There are always trade-offs in economics. Learn it.

 

[ScreamingEagle]

The real problem with increasing the minimum wage is the already devalued dollar. Liberals don't know where money comes from they think it literally falls out of the sky. They haven't the intellectual or logical capacity to understand what it will do to the economy, the poor, the rich, and everyone in between.

There are always trade-offs in economics. Learn it.

what you don't 'get' is Obama is making out like the commie bandit he is....

 

[PaintMyHouse]

The real problem with increasing the minimum wage is the already devalued dollar. Liberals don't know where money comes from they think it literally falls out of the sky. They haven't the intellectual or logical capacity to understand what it will do to the economy, the poor, the rich, and everyone in between.

There are always trade-offs in economics. Learn it.

what you don't 'get' is Obama is making out like the commie bandit he is....

He's one lousy communist. Ask them, they don't like him either. Nor do the Socialists.

 

[PredFan]

The real problem with increasing the minimum wage is the already devalued dollar. Liberals don't know where money comes from they think it literally falls out of the sky. They haven't the intellectual or logical capacity to understand what it will do to the economy, the poor, the rich, and everyone in between.

There are always trade-offs in economics. Learn it.

It isn't a "trade off" nit wit. Where do you think the money to pay those higher salaries will come from? You think that the 1% pays their employees right out of their personal bank accounts?

What about the people who don't make minimum wage now but also don't make what it will be changed to? You think they are going to settle for a salary equal to what a burger flipper makes? What about the union contracts that are tied to the minimum wage? Where is all this money going to come from eh?

Trade Offs? What a dumbass.

 

[PredFan]

There are always trade-offs in economics. Learn it.

what you don't 'get' is Obama is making out like the commie bandit he is....

He's one lousy socialist. Ask them, they don't like him either.

There's a difference between socialist and communist. Learn it.

 

[J.E.D]

Poor workers may face an effective higher tax rate than the 1 percenters on their Minimum Wage increases that Obama and the Dims want.....meaning the Government could end up with getting back more than HALF of a poor person's increased minimum wage...nice huh..?

here is an example of a single mother with one child who is making minimum wage...

$2.85/hr....the proposed government increase
-0.24.........loss in EITC (Earned Income Tax Credit)
-0.91.........loss in SNAP benefits (food stamps)
-0.06.........loss in LHEAP benefits (heating help)
-0.22.........higher payroll taxes

So...you would rather see her subsist off of welfare than earn a better living. Interesting....

 

[ScreamingEagle]

There are always trade-offs in economics. Learn it.

what you don't 'get' is Obama is making out like the commie bandit he is....

He's one lousy socialist. Ask them, they don't like him either.

the Dem commies are quite happy with his minimum wage proposal......after all it will take money right from the hated middle class and direct it right back to central control....the Feds....

btw i call statists of any description 'commies'....

 

[PaintMyHouse]

The real problem with increasing the minimum wage is the already devalued dollar. Liberals don't know where money comes from they think it literally falls out of the sky. They haven't the intellectual or logical capacity to understand what it will do to the economy, the poor, the rich, and everyone in between.

There are always trade-offs in economics. Learn it.

It isn't a "trade off" nit wit. Where do you think the money to pay those higher salaries will come from? You think that the 1% pays their employees right out of their personal bank accounts?

What about the people who don't make minimum wage now but also don't make what it will be changed to? You think they are going to settle for a salary equal to what a burger flipper makes? What about the union contracts that are tied to the minimum wage? Where is all this money going to come from eh?

Trade Offs? What a dumbass.

Yes, trade-offs you little idiot.

The money is going to come from the same place it does when we have inflation idiot, prices will rise. The point is to get enough money flowing at the bottom to grow the economy instead of everyone living in poverty and having no money to spend. Spreading it around make everyone better off.

It's much better to sell ten $10,000 boats than one $100,000 boat. Ten times the ropes and lines, ten times the life jackets, ten times the license fees, the times the boat trailers, trucks, hitches, boating books and classes, etc. You have to get the money flowing or Capitalism dies. You do that by getting enough wages out there that people spend money and not just on what they have to to survive.

 

[Nyvin]

I'm CERTAIN if you asked the people who are getting a 2.85 wage increase whether they want the raise or less taxes and more welfare....ALL of them will take the raise.

 

[PaintMyHouse]

what you don't 'get' is Obama is making out like the commie bandit he is....

He's one lousy socialist. Ask them, they don't like him either.

There's a difference between socialist and communist. Learn it.

I know it well dummy and he isn't either one but I cleared that up for you.

 

[ScreamingEagle]

Poor workers may face an effective higher tax rate than the 1 percenters on their Minimum Wage increases that Obama and the Dims want.....meaning the Government could end up with getting back more than HALF of a poor person's increased minimum wage...nice huh..?

here is an example of a single mother with one child who is making minimum wage...

$2.85/hr....the proposed government increase
-0.24.........loss in EITC (Earned Income Tax Credit)
-0.91.........loss in SNAP benefits (food stamps)
-0.06.........loss in LHEAP benefits (heating help)
-0.22.........higher payroll taxes

So...you would rather see her subsist off of welfare than earn a better living. Interesting....

not in this idiotic form...it'd be better for her to just get more EITC...

in effect she is getting coerced 'welfare' in the form of extortion from the middle class employer...and the Feds got their hand in the pot as well....

 

[PaintMyHouse]

what you don't 'get' is Obama is making out like the commie bandit he is....

He's one lousy socialist. Ask them, they don't like him either.

the Dem commies are quite happy with his minimum wage proposal......after all it will take money right from the hated middle class and direct it right back to central control....the Feds....

btw i call statists of any description 'commies'....

The only people who hate the Middle Class are you guys. Anything that helps it out you are more than happy to kill at your master's request.

 

[auditor0007]

Utter nonsense. If I offer you an extra $2 an hour but I take back even as much as a buck of that in taxes you are still $1 ahead of where you were. Learn to do math and think for the love of god.

that is not what is being claimed.....however if she has to go buy Obamacare instead of getting free Medicaid it could eat up every extra dollar she got plus some...

That is the risk of making both too little and too much. It happens.

First they tell us there are too many on welfare. Now all of a sudden they support it.

 

[ScreamingEagle]

I'm CERTAIN if you asked the people who are getting a 2.85 wage increase whether they want the raise or less taxes and more welfare....ALL of them will take the raise.

NOT if they get more money by keeping their bennies intact and getting an increased EITC for the same amount of a min wage increase.....

but then Obama and his buddies wouldn't get to stick it to the middle class employers would they....?

 

[ScreamingEagle]

that is not what is being claimed.....however if she has to go buy Obamacare instead of getting free Medicaid it could eat up every extra dollar she got plus some...

That is the risk of making both too little and too much. It happens.

First they tell us there are too many on welfare. Now all of a sudden they support it.

Obama and the Dems claim they are helping the poor.....but they really are not.....(except for maybe 2 percent.....big whoop...)