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Now how much do you expect the minimum wage earner to save for retirement after paying $1472 federal tax, $471 state income tax, rent, utilities, and all the other costs of living? In your world, do they get to have health insurance?
For starters, I'd never expect a person to spend their entire working life in a minimum wage position. Who, other than the lazy, mentally or physically handicapped (who do deserve help), and "takers", can't increase their income in a 50 year career?
How much do you expect them to save for retirement after paying taxes, rent, utilities, and all the other costs of living? Do they get to have health insurance? Should they just work until they drop?
1. Their retirement savings are likely limited to SS contributions. That's the case for many, even those who make more than minimum wage.
2. They can get health care via Obama care with substantial subsidies.
3. No, they wait until their FRA and then apply for SS just like the rest of us.
For starters, I'd never expect a person to spend their entire working life in a minimum wage position. Who, other than the lazy, mentally or physically handicapped (who do deserve help), and "takers", can't increase their income in a 50 year career?
1. Their retirement savings are likely limited to SS contributions. That's the case for many, even those who make more than minimum wage.
2. They can get health care via Obama care with substantial subsidies.
3. No, they wait until their FRA and then apply for SS just like the rest of us.
smh
Minimum wage workers without kids do not earn enough for Obamacare and in ~20 states don't get Medicaid either. (They were exempt from the individual mandate but also were not in a position to purchase coverage.)
Minimum wage workers without kids do not earn enough for Obamacare and in ~20 states don't get Medicaid either. (They were exempt from the individual mandate but also were not in a position to purchase coverage.)
The minimum earnings to qualify for a single person is just north of 12K. So, yes, they do earn enough to qualify. Full time minimum wage workers making at least the federal minimum wage would earn around 15K. At that income level, contributions from the enrollee are not more than 2% of income. That’s $300 a year for health insurance. If having insurance is a priority, people will find a way to pay $25 a month.
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