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This should be in the politics forum. The way I see it, you either believe all the numbers released or you don't believe all the numbers released. Instead, many Republicans live in an alternate universe where when job numbers are bad they pounce on the president and when job numbers are good its of course lies.
The Fed has nothing to gain from cooking the books. It also has a Board of Governors, so Ben doesn't call all the shots. The report is most likely just a statistical outlier. Find something better to worry about.
no one knows what the real numbers are. people are working off the books in mass as well as milking the unemployment system.
we are hiring and i have had sooooooo many people tell me they want 20 bucks an hour for warehouse work as thats the equal to their unemployment and the money they get working at the local deli off he books.
no one knows what the real numbers are. people are working off the books in mass as well as milking the unemployment system.
we are hiring and i have had sooooooo many people tell me they want 20 bucks an hour for warehouse work as thats the equal to their unemployment and the money they get working at the local deli off he books.
I don't think anyone is getting the equivalent of $20 off UI... But at any rate, the wage structure in this country has most certainly taken a dive for your average worker. It's to be expected that this adjustment will take time, but I do think people en mass are getting the message... Nobody is getting $20/hr just for showing up anymore. Ya gotta be able to produce $20/hr worth of work.
Now, if taxes were less of a burden, and perhaps wages on the lower end were a tad bit higher, I do believe the economy as a whole would be considerably more stable. When Americans can not afford to spend, it's very difficult to naturally stimulate the economy. JMHO.
no one knows what the real numbers are. people are working off the books in mass as well as milking the unemployment system.
we are hiring and i have had sooooooo many people tell me they want 20 bucks an hour for warehouse work as thats the equal to their unemployment AND the money they get working at the local deli off he books.
Quote:
Originally Posted by andywire
I don't think anyone is getting the equivalent of $20 off UI... But at any rate, the wage structure in this country has most certainly taken a dive for your average worker. It's to be expected that this adjustment will take time, but I do think people en mass are getting the message... Nobody is getting $20/hr just for showing up anymore. Ya gotta be able to produce $20/hr worth of work.
Now, if taxes were less of a burden, and perhaps wages on the lower end were a tad bit higher, I do believe the economy as a whole would be considerably more stable. When Americans can not afford to spend, it's very difficult to naturally stimulate the economy. JMHO.
It's a combination of untaxed income from the job at the deli and taxable income on UI.
If the warehouse job is paying $15/hr, there would be little incentive to give up unemployment insurance an off-the-books job at the deli.
$15/hr x 40 hours per week = $600
$600 gross - $34 FICA (5.65%) - $65 Income tax(single) = $501 After Taxes 1040 Tax Calculator
$430/wk UI - $43 Income Tax = $387 After Taxes
UI is not subject to payroll taxes, so no FICA is deducted.
$501 - $387 = $114 (difference between UI and warehouse job)
$114/40 hours = $2.85/hr (difference divided by 40 hours)
A deli worker(off the books) would only need to make $2.85/hr from base salary and tips to match a $15/hr warehouse job. If the deli worker is collecting $7(base + tips)/hr, they would be doing better at his warehouse. They would need about $20/hr to come out ahead at the warehouse.
Last edited by move4ward; 10-14-2012 at 03:59 PM..
It's a combination of untaxed income from the job at the deli and taxable income on UI.
If the warehouse job is paying $15/hr, there would be little incentive to give up unemployment insurance an off-the-books job at the deli.
$15/hr x 40 hours per week = $600
$600 gross - $34 FICA (5.65%) - $65 Income tax(single) = $501 After Taxes 1040 Tax Calculator
$430/wk UI - $43 Income Tax = $387 After Taxes
UI is not subject to payroll taxes, so no FICA is deducted.
$501 - $387 = $114 (difference between UI and warehouse job)
$114/40 hours = $2.85/hr (difference divided by 40 hours)
A deli worker(off the books) would only need to make $2.85/hr from base salary and tips to match a $15/hr warehouse job. If the deli worker is collecting $7(base + tips)/hr, they would be doing better at his warehouse. They would need about $20/hr to come out ahead at the warehouse.
exactly what we are seeing. the combo of un-employment and an off the books menial job takes alot of on the books income to match. so they turn us down to milk the system instead.
I was on unemployment for 2 years during the recession and had no incentive to work, I saved up money and put it in the market. It's sad that the stock market has become one of the few alternatives to hedge inflation. I don't necessarily think job numbers are cooked, but I know they're polished and very deceiving. Unfortunately I don't think the current administration shows any accountability what-so-ever. At the end of the day though you just have to learn to play the market, which isn't a reflection of the overall economy. I hate Monsanto, Goog, AAPL etc but I play them. Oneday they'll go bust but until then there's lots of money to be made.
Dick Cheney said to Treasury Secretary Paul O'Neill: "You know, Paul, Reagan proved that deficits don't matter. We won the mid-term elections, this is our due."
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