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Minimum Wage; ..for your consumption
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Topic Started: Jul 16 2013, 01:14 PM (1,718 Views)
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sirbrianwilson
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Jul 22 2013, 09:54 AM
Post #151
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Stemlerite
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If I ever eat at McDonald's, it's the sausage mcmuffin with egg during breakfast time.
br
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eelbor
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Jul 22 2013, 09:59 AM
Post #152
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Zen Master
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- sirbrianwilson
- Jul 22 2013, 09:34 AM
- eelbor
- Jul 22 2013, 08:50 AM
- brumdog44
- Jul 21 2013, 10:33 PM
- HoosierLars
- Jul 21 2013, 10:25 PM
Some of you have been asking Aaron detailed questions about living on minimum wage.
Here are a couple for you: 1) What should minimum wage be? (e.g. $15 or $20) 2) Who should set that rate? (e.g. the Federal government)
So I assume you are now admitting that you can't live on minimum wage.
While I really do not think it is would be fun, and would not want to try it... The rent listed is $600. I can find bedroom rentals for $250-400 all utilities included. So that saves $300 a month on the McDonald.s budget. http://tulsa.craigslist.org/roo/3897611874.htmlMinimum wage people are not going to be able to save $100 monthly, so that is +$100 a month The Tulsa Transit 31 day unlimited Bus pass is $40 Monthly. With that I can Save the $150 car payment and the $100 car insurance. There is +$210 a month. Cable is included in the room above and I can get a cheap cell phone plan on ATT for $39.99 a month, so there is +$60 off their $100 budget. All Utilities are included so +$100 on electric That is a quick reduction of costs from there budget of $770 without even trying hard. Job at McDonalds. 1105.00 -$300 rent -$40 bus pass -$40 cell phone -60.62 (mcdonald's lowest health insurance plan) ____________ $662 That leaves about $662 for the rest of your expenses on a single minimum wage job for the rest of the month. The leaves 22 dollars a day. That is a lot of ramen noodles and eating at work. Will life be good? No. Can it be done? Well maybe, as a single. I for one do not expect a Mcdonald's minimum wage job to pay my life expenses.
That's all fine and dandy except for the fact that your calculations budget on gross pay for minimum wage at 40 hrs a week. In reality, your monthly net income would be $887.12 for minimum wage (based the tax numbers on Oklahoma, which appears to be where you found the apartment online). That's $217.88 less. So, despite the great find on the apartment and owning/living on next to nothing already, your daily expenses would be reduced to $14.80. That is not livable. God forbid someone gets pregnant. Oh wait, that never happens right? br No, it doesn't. ($7.25 * 40hrs * 52weeks a year)/12months = $1256 a month. McDonald's calculations only had that as $1105 so I am assuming the other $151 a month that is missing was taxes.
In Oklahoma making $290 a week withholding of state taxes would be $4.74 + 5.25% of the amount over $285, or $4.90 a week(roughly $20 a month) http://www.tax.ok.gov/publicat/2013WHTablesV2.pdf
The federal withholding calculator shows $0 a week withheld on minimum wage, but owing 525 at year end, so assume $44 a month federal tax withholding.
And then add in FICA, which is 1.45% medicare and 6.2% Social Security = $23 a month.
$20 state withholding +$23 FICA + $44 Fed withholding does not equal the $151 they are already holding out.
Where did you ever get the idea it was supposed to be easy? Plus if I ever got pregnant, I could make a living on that fact alone.
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"Liberal, shmiberal. That should be a new word. Shmiberal: one who is assumed liberal, just because he's a professional whiner in the newspaper. If you'll read the subtext for many of those old strips, you'll find the heart of an old-fashioned Libertarian. And I'd be a Libertarian, if they weren't all a bunch of tax-dodging professional whiners." - Berkeley Breathed
Meat is Murder. Sweet, delicious murder.
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Mr Gray
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Jul 22 2013, 10:00 AM
Post #153
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Coach
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ok, here is a minimum wage budget.
Posted Image
This leaves between $265 & $600 per month for savings or emergencies after all other bills are covered depending on if the person wants to work a 2nd part time job of 12 hours per week....and please don't tell me how horrible it is to work 52 hours per week....I chose that because it has been my bare minimum week for the past 12 years.
I eliminated a vehicle, and added a bit to eel's estimate for transportation assuming the occasional carpool or taxi when in a bind. I don't see a need for cable if you are struggling. I went 4 years without it while building my 1st business.
Regarding getting pregnant....I'm not sure why that is McDonald's fault or responsibility, however I have said ad nauseam on here, that if an adult is unable to care for a child, society should assist via taxpayer supported welfare programs for that child.
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 The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism.
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eelbor
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Jul 22 2013, 10:00 AM
Post #154
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Zen Master
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- brumdog44
- Jul 22 2013, 09:38 AM
Eel -- where are you getting the $60 drop in health insurance? The chart has health insurance a ridiculous $20 per month....so would the McDonald's cheapest health insurance not be a cost increase? And tat wouldn't cover copays or prescriptions.
That was not a drop. That was subtracting what McDonald's actually charges from the minimum wage job.
1105 monthly - what you pay for insurance
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"Liberal, shmiberal. That should be a new word. Shmiberal: one who is assumed liberal, just because he's a professional whiner in the newspaper. If you'll read the subtext for many of those old strips, you'll find the heart of an old-fashioned Libertarian. And I'd be a Libertarian, if they weren't all a bunch of tax-dodging professional whiners." - Berkeley Breathed
Meat is Murder. Sweet, delicious murder.
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Mr Gray
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Jul 22 2013, 10:01 AM
Post #155
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Coach
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- sirbrianwilson
- Jul 22 2013, 09:54 AM
If I ever eat at McDonald's, it's the sausage mcmuffin with egg during breakfast time.
br I think this is the 2nd thing we have agreed on
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 The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism.
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HoosierLars
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Jul 22 2013, 10:02 AM
Post #156
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3 in a row
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- sirbrianwilson
- Jul 22 2013, 09:54 AM
If I ever eat at McDonald's, it's the sausage mcmuffin with egg during breakfast time.
br Eel and Aaron FTW. Good time to change the subject...
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Mr Gray
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Jul 22 2013, 10:03 AM
Post #157
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Coach
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- Mr Gray
- Jul 22 2013, 10:00 AM
ok, here is a minimum wage budget. Posted ImageThis leaves between $265 & $600 per month for savings or emergencies after all other bills are covered depending on if the person wants to work a 2nd part time job of 12 hours per week....and please don't tell me how horrible it is to work 52 hours per week....I chose that because it has been my bare minimum week for the past 12 years. I eliminated a vehicle, and added a bit to eel's estimate for transportation assuming the occasional carpool or taxi when in a bind. I don't see a need for cable if you are struggling. I went 4 years without it while building my 1st business. Regarding getting pregnant....I'm not sure why that is McDonald's fault or responsibility, however I have said ad nauseam on here, that if an adult is unable to care for a child, society should assist via taxpayer supported welfare programs for that child. Note: I would suggest that this person use every available dollar and/or time to better their position in life....there is no excuse for remaining in a condition where your services are only worth $7.25 per hour, assuming you are of sound mind & body. (FYI...Kroger pays mentally handicapped people $8 - $9 per hour to bag groceries)
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 The body knows what fighters don't: how to protect itself. A neck can only twist so far. Twist it just a hair more and the body says, "Hey, I'll take it from here because you obviously don't know what you're doing... Lie down now, rest, and we'll talk about this when you regain your senses." It's called the knockout mechanism.
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brumdog44
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Jul 22 2013, 10:05 AM
Post #158
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The guy picked last in gym class
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- realtivelynew
- Jul 22 2013, 09:51 AM
- brumdog44
- Jul 22 2013, 09:50 AM
- realtivelynew
- Jul 22 2013, 09:47 AM
MMM $6 Big Macs. But hey. I need to make sure she has cable and god forbid gets pregnant
Big Macs are $6 where you live? Anyway, if I do eat at MacDonald's, I usually get the McChickens off the value menu.
So you dont think that McDonalds will pass off the higher payroll onto the consumer? Minimum wage went up $1.90 from 2006 to 2008.
How often do you find yourself complaining about the lack of a line at the McDonald's drive thru? Obviously the price increases were not substantial.
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eelbor
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Jul 22 2013, 10:05 AM
Post #159
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Zen Master
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- HoosierLars
- Jul 22 2013, 10:02 AM
- sirbrianwilson
- Jul 22 2013, 09:54 AM
If I ever eat at McDonald's, it's the sausage mcmuffin with egg during breakfast time.
br
Eel and Aaron FTW. Good time to change the subject... It would be a very miserable experience. While it could possibly be done, I would not want to do it.
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"Liberal, shmiberal. That should be a new word. Shmiberal: one who is assumed liberal, just because he's a professional whiner in the newspaper. If you'll read the subtext for many of those old strips, you'll find the heart of an old-fashioned Libertarian. And I'd be a Libertarian, if they weren't all a bunch of tax-dodging professional whiners." - Berkeley Breathed
Meat is Murder. Sweet, delicious murder.
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realtivelynew
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Jul 22 2013, 10:07 AM
Post #160
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Coach
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- brumdog44
- Jul 22 2013, 10:05 AM
- realtivelynew
- Jul 22 2013, 09:51 AM
- brumdog44
- Jul 22 2013, 09:50 AM
- realtivelynew
- Jul 22 2013, 09:47 AM
MMM $6 Big Macs. But hey. I need to make sure she has cable and god forbid gets pregnant
Big Macs are $6 where you live? Anyway, if I do eat at MacDonald's, I usually get the McChickens off the value menu.
So you dont think that McDonalds will pass off the higher payroll onto the consumer?
Minimum wage went up $1.90 from 2006 to 2008. How often do you find yourself complaining about the lack of a line at the McDonald's drive thru? Obviously the price increases were not substantial. So what do you feel is the acceptable minimum wage?
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brumdog44
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Jul 22 2013, 10:11 AM
Post #161
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The guy picked last in gym class
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- eelbor
- Jul 22 2013, 09:59 AM
- sirbrianwilson
- Jul 22 2013, 09:34 AM
- eelbor
- Jul 22 2013, 08:50 AM
- brumdog44
- Jul 21 2013, 10:33 PM
- HoosierLars
- Jul 21 2013, 10:25 PM
Some of you have been asking Aaron detailed questions about living on minimum wage.
Here are a couple for you: 1) What should minimum wage be? (e.g. $15 or $20) 2) Who should set that rate? (e.g. the Federal government)
So I assume you are now admitting that you can't live on minimum wage.
While I really do not think it is would be fun, and would not want to try it... The rent listed is $600. I can find bedroom rentals for $250-400 all utilities included. So that saves $300 a month on the McDonald.s budget. http://tulsa.craigslist.org/roo/3897611874.htmlMinimum wage people are not going to be able to save $100 monthly, so that is +$100 a month The Tulsa Transit 31 day unlimited Bus pass is $40 Monthly. With that I can Save the $150 car payment and the $100 car insurance. There is +$210 a month. Cable is included in the room above and I can get a cheap cell phone plan on ATT for $39.99 a month, so there is +$60 off their $100 budget. All Utilities are included so +$100 on electric That is a quick reduction of costs from there budget of $770 without even trying hard. Job at McDonalds. 1105.00 -$300 rent -$40 bus pass -$40 cell phone -60.62 (mcdonald's lowest health insurance plan) ____________ $662 That leaves about $662 for the rest of your expenses on a single minimum wage job for the rest of the month. The leaves 22 dollars a day. That is a lot of ramen noodles and eating at work. Will life be good? No. Can it be done? Well maybe, as a single. I for one do not expect a Mcdonald's minimum wage job to pay my life expenses.
That's all fine and dandy except for the fact that your calculations budget on gross pay for minimum wage at 40 hrs a week. In reality, your monthly net income would be $887.12 for minimum wage (based the tax numbers on Oklahoma, which appears to be where you found the apartment online). That's $217.88 less. So, despite the great find on the apartment and owning/living on next to nothing already, your daily expenses would be reduced to $14.80. That is not livable. God forbid someone gets pregnant. Oh wait, that never happens right? br
No, it doesn't. ($7.25 * 40hrs * 52weeks a year)/12months = $1256 a month. McDonald's calculations only had that as $1105 so I am assuming the other $151 a month that is missing was taxes. In Oklahoma making $290 a week withholding of state taxes would be $4.74 + 5.25% of the amount over $285, or $4.90 a week(roughly $20 a month) http://www.tax.ok.gov/publicat/2013WHTablesV2.pdfThe federal withholding calculator shows $0 a week withheld on minimum wage, but owing 525 at year end, so assume $44 a month federal tax withholding. And then add in FICA, which is 1.45% medicare and 6.2% Social Security = $23 a month. $20 state withholding +$23 FICA + $44 Fed withholding does not equal the $151 they are already holding out. Where did you ever get the idea it was supposed to be easy? Plus if I ever got pregnant, I could make a living on that fact alone. You are off on FICA calculations.....7.65% of the monthly income wouldn't be $23.
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eelbor
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Jul 22 2013, 10:14 AM
Post #162
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Zen Master
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- brumdog44
- Jul 22 2013, 10:11 AM
- eelbor
- Jul 22 2013, 09:59 AM
- sirbrianwilson
- Jul 22 2013, 09:34 AM
- eelbor
- Jul 22 2013, 08:50 AM
- brumdog44
- Jul 21 2013, 10:33 PM
- HoosierLars
- Jul 21 2013, 10:25 PM
Some of you have been asking Aaron detailed questions about living on minimum wage.
Here are a couple for you: 1) What should minimum wage be? (e.g. $15 or $20) 2) Who should set that rate? (e.g. the Federal government)
So I assume you are now admitting that you can't live on minimum wage.
While I really do not think it is would be fun, and would not want to try it... The rent listed is $600. I can find bedroom rentals for $250-400 all utilities included. So that saves $300 a month on the McDonald.s budget. http://tulsa.craigslist.org/roo/3897611874.htmlMinimum wage people are not going to be able to save $100 monthly, so that is +$100 a month The Tulsa Transit 31 day unlimited Bus pass is $40 Monthly. With that I can Save the $150 car payment and the $100 car insurance. There is +$210 a month. Cable is included in the room above and I can get a cheap cell phone plan on ATT for $39.99 a month, so there is +$60 off their $100 budget. All Utilities are included so +$100 on electric That is a quick reduction of costs from there budget of $770 without even trying hard. Job at McDonalds. 1105.00 -$300 rent -$40 bus pass -$40 cell phone -60.62 (mcdonald's lowest health insurance plan) ____________ $662 That leaves about $662 for the rest of your expenses on a single minimum wage job for the rest of the month. The leaves 22 dollars a day. That is a lot of ramen noodles and eating at work. Will life be good? No. Can it be done? Well maybe, as a single. I for one do not expect a Mcdonald's minimum wage job to pay my life expenses.
That's all fine and dandy except for the fact that your calculations budget on gross pay for minimum wage at 40 hrs a week. In reality, your monthly net income would be $887.12 for minimum wage (based the tax numbers on Oklahoma, which appears to be where you found the apartment online). That's $217.88 less. So, despite the great find on the apartment and owning/living on next to nothing already, your daily expenses would be reduced to $14.80. That is not livable. God forbid someone gets pregnant. Oh wait, that never happens right? br
No, it doesn't. ($7.25 * 40hrs * 52weeks a year)/12months = $1256 a month. McDonald's calculations only had that as $1105 so I am assuming the other $151 a month that is missing was taxes. In Oklahoma making $290 a week withholding of state taxes would be $4.74 + 5.25% of the amount over $285, or $4.90 a week(roughly $20 a month) http://www.tax.ok.gov/publicat/2013WHTablesV2.pdfThe federal withholding calculator shows $0 a week withheld on minimum wage, but owing 525 at year end, so assume $44 a month federal tax withholding. And then add in FICA, which is 1.45% medicare and 6.2% Social Security = $23 a month. $20 state withholding +$23 FICA + $44 Fed withholding does not equal the $151 they are already holding out. Where did you ever get the idea it was supposed to be easy? Plus if I ever got pregnant, I could make a living on that fact alone.
You are off on FICA calculations.....7.65% of the monthly income wouldn't be $23. Damn, you are correct. That is weekly. The total is really $96.14 monthly. +$44 fed, +$ 20 OK.
That would lower my available amount by 9$ a month
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"Liberal, shmiberal. That should be a new word. Shmiberal: one who is assumed liberal, just because he's a professional whiner in the newspaper. If you'll read the subtext for many of those old strips, you'll find the heart of an old-fashioned Libertarian. And I'd be a Libertarian, if they weren't all a bunch of tax-dodging professional whiners." - Berkeley Breathed
Meat is Murder. Sweet, delicious murder.
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sirbrianwilson
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Jul 22 2013, 10:19 AM
Post #163
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Stemlerite
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- eelbor
- Jul 22 2013, 10:14 AM
- brumdog44
- Jul 22 2013, 10:11 AM
- eelbor
- Jul 22 2013, 09:59 AM
- sirbrianwilson
- Jul 22 2013, 09:34 AM
- eelbor
- Jul 22 2013, 08:50 AM
- brumdog44
- Jul 21 2013, 10:33 PM
- HoosierLars
- Jul 21 2013, 10:25 PM
Some of you have been asking Aaron detailed questions about living on minimum wage.
Here are a couple for you: 1) What should minimum wage be? (e.g. $15 or $20) 2) Who should set that rate? (e.g. the Federal government)
So I assume you are now admitting that you can't live on minimum wage.
While I really do not think it is would be fun, and would not want to try it... The rent listed is $600. I can find bedroom rentals for $250-400 all utilities included. So that saves $300 a month on the McDonald.s budget. http://tulsa.craigslist.org/roo/3897611874.htmlMinimum wage people are not going to be able to save $100 monthly, so that is +$100 a month The Tulsa Transit 31 day unlimited Bus pass is $40 Monthly. With that I can Save the $150 car payment and the $100 car insurance. There is +$210 a month. Cable is included in the room above and I can get a cheap cell phone plan on ATT for $39.99 a month, so there is +$60 off their $100 budget. All Utilities are included so +$100 on electric That is a quick reduction of costs from there budget of $770 without even trying hard. Job at McDonalds. 1105.00 -$300 rent -$40 bus pass -$40 cell phone -60.62 (mcdonald's lowest health insurance plan) ____________ $662 That leaves about $662 for the rest of your expenses on a single minimum wage job for the rest of the month. The leaves 22 dollars a day. That is a lot of ramen noodles and eating at work. Will life be good? No. Can it be done? Well maybe, as a single. I for one do not expect a Mcdonald's minimum wage job to pay my life expenses.
That's all fine and dandy except for the fact that your calculations budget on gross pay for minimum wage at 40 hrs a week. In reality, your monthly net income would be $887.12 for minimum wage (based the tax numbers on Oklahoma, which appears to be where you found the apartment online). That's $217.88 less. So, despite the great find on the apartment and owning/living on next to nothing already, your daily expenses would be reduced to $14.80. That is not livable. God forbid someone gets pregnant. Oh wait, that never happens right? br
No, it doesn't. ($7.25 * 40hrs * 52weeks a year)/12months = $1256 a month. McDonald's calculations only had that as $1105 so I am assuming the other $151 a month that is missing was taxes. In Oklahoma making $290 a week withholding of state taxes would be $4.74 + 5.25% of the amount over $285, or $4.90 a week(roughly $20 a month) http://www.tax.ok.gov/publicat/2013WHTablesV2.pdfThe federal withholding calculator shows $0 a week withheld on minimum wage, but owing 525 at year end, so assume $44 a month federal tax withholding. And then add in FICA, which is 1.45% medicare and 6.2% Social Security = $23 a month. $20 state withholding +$23 FICA + $44 Fed withholding does not equal the $151 they are already holding out. Where did you ever get the idea it was supposed to be easy? Plus if I ever got pregnant, I could make a living on that fact alone.
You are off on FICA calculations.....7.65% of the monthly income wouldn't be $23.
Damn, you are correct. That is weekly. The total is really $96.14 monthly. +$44 fed, +$ 20 OK. That would lower my available amount by 9$ a month That's an entire day's worth of food!
br
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HoosierLars
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Jul 22 2013, 10:29 AM
Post #164
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3 in a row
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- realtivelynew
- Jul 22 2013, 10:07 AM
- brumdog44
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- realtivelynew
- Jul 22 2013, 09:51 AM
- brumdog44
- Jul 22 2013, 09:50 AM
- realtivelynew
- Jul 22 2013, 09:47 AM
MMM $6 Big Macs. But hey. I need to make sure she has cable and god forbid gets pregnant
Big Macs are $6 where you live? Anyway, if I do eat at MacDonald's, I usually get the McChickens off the value menu.
So you dont think that McDonalds will pass off the higher payroll onto the consumer?
Minimum wage went up $1.90 from 2006 to 2008. How often do you find yourself complaining about the lack of a line at the McDonald's drive thru? Obviously the price increases were not substantial.
So what do you feel is the acceptable minimum wage? The only answer you will ever get is the same as the answer about tax rates, "they need to be higher."
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HoosierLars
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Jul 22 2013, 10:30 AM
Post #165
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3 in a row
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- sirbrianwilson
- Jul 22 2013, 10:19 AM
That's an entire day's worth of food!
br Do you know how much rice, beans, and potatoes you can buy for $10? That's at least a couple days of food.
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