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Why stop at $15, in a few years, let's raise it to $50 an hour! (sarcasm)
Wages should always be supply and demand based, this keeps the workforce competitive and rewards those who have attained marketable skills and an education.
Pretty soon, uneducated "burger flippers" will be at the same wage rate at doctors, which would remove the incentives to obtain an education.
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Originally Posted by justtitans
Is making a living and trying to raise a family in a major metropolitan area like Seattle, really realistic? Things are expensive for a reason. When you want to live close to things that everybody else wants, you have to pay for it. It's called demand. I think it's stupid to think that we are enabling so many people to try to make a living without going out getting skills, and education that would put them in a better position to earn even more.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Someone with income tax expertise correct me if I'm wrong, but if I recall correctly $15 is just enough that a single person with no dependents will have to actually pay federal income tax for the first time, it will be putting them over the maximum that qualifies for no income tax (poverty level).
The city itself will likely be fine, as many who live in the city make pretty good money.
Though, the ones who will feel the pinch are those making $16 or $17 an hour. All the costs will increase, gradually, but the people who are barely making ends meet will slide into poverty. My wife and I crunched the numbers, and with a kid on the way, it makes loads more sense for her to simply quit after giving birth once childcare and daycare are factored in. Luckily I make pretty good money and can support a family. I just imagine what the situtation is for the median in Seattle; around $65k.
The city itself will likely be fine, as many who live in the city make pretty good money.
Though, the ones who will feel the pinch are those making $16 or $17 an hour. All the costs will increase, gradually, but the people who are barely making ends meet will slide into poverty. My wife and I crunched the numbers, and with a kid on the way, it makes loads more sense for her to simply quit after giving birth once childcare and daycare are factored in. Luckily I make pretty good money and can support a family. I just imagine what the situtation is for the median in Seattle; around $65k.
Are you saying that Seattle is looking forward to rid themselves of lower wage workers by this proposal?
Someone with income tax expertise correct me if I'm wrong, but if I recall correctly $15 is just enough that a single person with no dependents will have to actually pay federal income tax for the first time, it will be putting them over the maximum that qualifies for no income tax (poverty level).
I doubt that, I've been consistently paid way less, worked overtime and *still* couldn't afford my own place in New York while paying 18% taxes from my weekly check. What I get back was something amounting to 4% of that so I'm still paying 14% to the gov. All I could afford was to eat three cheap meals a day and nothing else. The rest went to commuting expenses and basic hygiene items.
I doubt that, I've been consistently paid way less, worked overtime and *still* couldn't afford my own place in New York while paying 18% taxes from my weekly check. What I get back was something amounting to 4% of that so I'm still paying 14% to the gov. All I could afford was to eat three cheap meals a day and nothing else. The rest went to commuting expenses and basic hygiene items.
Perhaps a change in venue or career is in order? Doesn't sound like much of a life.
You can do whatever you put your mind to doing. It just requires taking the first step, and then deciding to continue on with those steps, until you've made yourself happy. Don't settle for just getting by, change the way you look at things and the thing you look at will change.
Someone with income tax expertise correct me if I'm wrong, but if I recall correctly $15 is just enough that a single person with no dependents will have to actually pay federal income tax for the first time, it will be putting them over the maximum that qualifies for no income tax (poverty level).
They can file differently and protect themselves......but, most will not.
Now the labor unions will flex muscles to raise their rates accordingly. Only big companies will be able to absorb this.
I believe that most labor unions with wages tied to the minimum wage have them tied to the federal minimum wage.
Quote:
Originally Posted by wheretomove2014
I doubt that, I've been consistently paid way less, worked overtime and *still* couldn't afford my own place in New York while paying 18% taxes from my weekly check. What I get back was something amounting to 4% of that so I'm still paying 14% to the gov. All I could afford was to eat three cheap meals a day and nothing else. The rest went to commuting expenses and basic hygiene items.
When you say 18%, what taxes specifically are you talking about? There are many different taxes taken out of a check, but he was speaking of federal income tax specifically.
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