This sort of comment is the type that really angers me most in debates surrounding minimum wage. I was not really doing all that much and so I figured I'd sit down and do the math for myself and for anyone else who hasn’t. These numbers assume previously owning all assets (car, phone, cooking tools, bed, clothing for all weather, I think you get the point) already renting and having initiated all contracts (so no security deposit, increased drive mileage for moving, phone plan activation, Internet installation and activation, again, I think you get the point). I think that we accepted that working 40 hours a week, 52 weeks a year is the goal. One thing to point out, your math is wrong. It works out to higher pay though. Your calculation I assume went: $8.75/hour *40 hours *4 weeks *12 months = $16,800/year I did this at the beginning as well. The error is that not every month has 4 complete weeks. The way to fix that discrepancy: $8.75/hour * 40 hours/week*52 weeks/year =$18,200/year Let's both acknowledge that this kind of perfect attendance doesn't happen due to illness, emergencies, holidays etc. After taxes (Federal 15% and Maryland 4.75% of income less $3,000) your take home pay is $1,235 per month if we exclude change which I intend to do for the rest of this post. Admittedly I neglected to include the $7.50 a month in taxes that is …show more content…
Subsidized health insurance, lowest tier, least benefits: $120/m. Car insurance based on mine which is quite low by comparison to others in my same demographic: $70/m. Total: $190/m. This is another place where I need to do an annual rather than a monthly cost analysis. Say you get sick as most people do each year. You need a doctor's note. With my insurance which I assure you is not of the incredibly unsupported tier above, that's $40. I think I've been twice this year. That's $80 per year and if you need a prescription for those visits, that would be another $25. So that's $105
12.5 hours per week for 38 weeks of the year to ensure that they receive up
Hours- EE agrees to work a 60-hour regular workweek (Monday—Friday) and is able to make up the time throughout the week, including Saturdays, however EE is able. Hours worked on Saturdays will be deducted from the following workweek if EE works over a 60-hour workweek.
David Brooks starts off the article by using a light hearted tone to describe the original idea of minimum wage starting with “Once upon a time.” His tone quickly turns critical as he explains the various studies done on the effect of changing the minimum wage. He uses phrases such as “unfortunately”, “clearly benefit”, and “regressive”. Another way his tone is critical is when he says “despite what some people want you to think.” He uses this phrase in order to criticize a large amount of people who have a similar belief. In the last paragraph, David Brooks uses the word “you” multiple times. This creates an accusing tone towards the reader and those in charge determining the minimum wage. The use of “you” allows Brooks to create a determined
b. If an employee is "maintained on the payroll" for any part of a week, that week counts as a week of employment, and 52 such weeks are deemed to equal 12 months. No actual work in the week is required.
How much would it cost for an individuals and as a nation? “For a family of three it cost around four hundred and fifty dollars month just for the health insurance. That does not count for dental or vision you have to pay those separated those insurances is total to be around two hundred dollar more, so all together is about six hundred dollars a mouth. The average price year for one Adult is fifteen thousand dollar a year.” (www.ehealth.com, 2014) If they
Ira Knight, who is an author of article “Let’s Make the Minimum Wage a Living Wage”, expresses an opinion that increasing the minimum wage would help all struggling workers and at the same time improve U.S economy. On the other side, Janice Steele in her article “Keep the Minimum Wage Where It Is” argues that raising the minimum wage would have bad effects on workers, consumers and small businesses. Ira Knight’s article seems to be the stronger of the two positions because her arguments are based on several recent studies, and last but not least, she had a personal experience with the minimum wage job.
Amitai Etzioni claims that working a minimum wage job is not something young people should consider. He believes part-time paying jobs hinder the professional development of teenagers. I disagree with his position. I think that while a part-time paying job isn’t something one should pursue his or her entire lifetime, the experience is valuable nonetheless.
The costs of services are part of the insured persons they have to pay a standard deduction of 300.00 per year (children and teens are exempt), and when you hit your deduction you have to pay a retention fee of 10% or a minimum of 700.00 per year, and children and teens spend 350.00. There is a hospital stay that is 15.00 per day and children,
Last year the average cost of an insurance policy for a family of four was $20,728.00 according to the Milliman Medical Index (2012 Milliman Medical Index, figure 1). The median household income for 2012 was $51,017.00 according to Steve Hargreaves for CNN Money (2013, para. 1). This means the average American spends almost 40.62 percent of health
$7.25 equals two gallons of gas, one fast food meal, or a simple school supply. With the minimum wage at the current rate you must work one hour to earn the seven dollars and twenty-five cents that only supply you with small necessities for everyday living. This problem was encountered before and was resolved with the agreement to higher the minimum wage from $5.85 to the current $7.25. Although that was a big increase in salaries, was it truly enough? This controversy can lead to a major change in everyone’s everyday lives and boost our economy to a period of prosperity. The minimum wage should be increased to bring our economy out of a recession, bring families together,
Most people agree that health insurance policies are too expensive; the average family cost for just the annual premiums in 2010 was over $14,000 for health insurance and increased annually.5 The US Census Bureau Annual Social and Economic Supplement for 2010 median house income was published to be $49,445.1 That’s over 28% of a family income just for health insurance premiums alone, not counting out of
The responsibility of an average American today, is to obtain healthcare insurance through private insurance, employer benefits, or Medicare and Medicaid. Estimates show that the average American spends about 5% of their gross income on medical costs, including premiums, co-pays and costs that are not covered, but this number varies, since everyone is responsible for their own healthcare costs ("US vs UK: Comparing Medical and Allied Healthcare Services," 2015).
Also, I would ask for a one time yearly charge of $100 which is not expensive due to the fact that families would have had a larger bill sent home from the doctors if they did not have insurance at all. For families under the income of $200,000, they will be able to have full payed yearly doctor and eye doctor exams and have a maximum of $1 copays for emergency visits.
With the budget project, I was able to see there is a major difference between career income and minimum wage income. I have realized that I get more of my desires and necessities with my career income. After taxes, I still have enough money to pay bills and do leisure activities, and I am able to have all of the essentials that are needed in life without going into debt. Basically, I can take delight in what I do with my life.
For our deductible, my family pays $250 individually and $500 family in network and $500 individually and $1000 family out of network. For copay, the cost varies even more depending on what it is for and if it is in or out of network. Some examples are, primary care in network is $10 and 50% out of network. For diagnostic testing it is 10% in network and 50% out of network. Surgery is 10% in network and 50% out network. Looking at medication the cost varies is it is generic, preferred brand name, and not preferred brand name. An example of cost for generic it is $5 for 30 day supply and $10 for 90 day