Toddsterpatriot
Diamond Member
ToddsterPatriot, minimum wage rates directly support job’s low-wage rates and less directly those workers’ wage incomes.... Thus, if due to extents of minimum wage increases replacing the lowest income family’s unemployment and/or public assistance benefits, the 5.2% increase of their total incomes would imply a much greater proportional increase of only their wage incomes. ... Please do the math.
Your new theory is that increasing the minimum wage by over 100% (over time) ends up reducing low end government benefits on the order of 90% plus of the increased wage?
Damn! That's one hell of a marginal tax rate!!!
I wonder if you can find any studies to support your theory? ...
... Income at $7.25 wage $1450
Benefits $1450
Total $2900
Income at $15 wage $3000
Benefits $50
Total $3050
Increase $150/$2900~5.2%
Marginal rate on $1550 increase in wages......90.3%, based only on the loss of benefits.
With the increased payroll and income tax, the marginal rate would easily top 100%.
CBO projected the minimum rate being gradually increased until it reaches $15 per hour in 2025. They projected family’s incomes that are less than three times their family sizes’ poverty thresholds would have increased their incomes by a range of 5.2% to 3.4%. To the extents that any of those family’s unemployment insurance and other social welfare benefits were replaced by additional wage incomes, those families wage incomes must have increased by a range much greater than 5.2% to 3.4%
You’re not pretending to be foolishly ignorant and less logical? You cannot or will not do the math?
Did you say something?
I couldn't hear you over the laughing about your "reduction in benefits" claim.
Maybe if you reread your CBO link, you'll understand your error?