RE: Help with a Minimum Wage Model

From: Rafal Smigrodzki (rafal@smigrodzki.org)
Date: Wed Apr 16 2003 - 18:03:16 MDT

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    cryofan wrote:
    > Rafal Smigrodzki <rafal@smigrodzki.org> said:
    >
    >> owner-extropians@extropy.org wrote:

    > gee, I really hate to drag cold numbers into your little
    > conversation, but I just cannot resist:
    >
    > --A single male working at ~ min wage == ~ $6/hr =~ 12k/yr;
    >
    > --from the USA tax table --> standard deduction == 7.7K;
    >
    >
    > -- so taxable income ==~5K
    > and from the tax table, that person would owe about $500 in income
    > taxes taxes. Plus about 8% goes to Social Security and medicare ==~
    > 12K (.08) == $1000.
    > So he now has a take home of 12K-1.5K == 10.5K, or about $800/month.
    >
    >
    > let's see how it looks to the single male getting 12K/yr.
    > An apartment here in Houston costs about $400, and that is distinctly
    > low- end. == $5000/yr, counting deposit, etc.

    ### An appartment shared with one person will be only 2500/yr, with three
    persons (as I did for many years), 1250 $/yr.

    That leaves 9250 $.

    -----------------------------

    >
    > That leaves 5.5K;
    >
    > Electricity =~ $40/mon ==~ $500;
    > -leaves 5K;

    ### Forty dollars! I am paying 25-30 $/month, for a whole house in
    Pennsylvania. Make it 20$ in an appartment, divided by four is 5$/month,
    120$/yr.

    ------------------------

    >
    > Phone =~ $300/yr.
    > leaves ~ 4.4K

    ### Now, why would yoy want a phone? You can use single-use cell phones for
    emergencies, otherwise phones are not indispensable.
    ---------------------------
    >
    > Food =~ $/day (rice,beans, oatmeal, etc) =~ $1500/yr;
    >
    > leaves ~ 3K.

    ### Leaves about 7.5 K.

    -----------------------------

    >
    > transportation: car payment = 200/month for a used car, insurance ==
    > 100/mon totals ...hmmm ~ 4K with registration taxes etc...

    ### Vanpools, bikes, walking, buses - easy transportation at no more than
    100$/month. I lived in the US for years without a car, and even now I
    commute to work by bike, also in winter. Cars are a luxury.

    --------------------------
    >
    > So, no transportation unless he lives near a bus line, which drives
    > the cost of the apartment up to $500/month.
    >
    > So what is left? Maybe 2K for "emergencies" such as medical care.

    ### So you have no less than 6.5 K, if you are prudent in your spending. You
    could invest in some ITI training courses and get a better job, too.

    Sounds like the horrors of life at the minimum wage are vastly
    overestimated.

    ----------------------------------
    >
    > Now THAT is the way to keep the poor boys down. That way it is harder
    > for them to pass on their genes, and *our* successful genes will have
    > a better chance of survival and being passed on.
    >
    > Well, maybe *that* part is not covered all that well in the tax
    > tables, etc. But isn't that what life as a social animal is all
    > about: once the successful animals reach a position of power, they
    > use that power to hamper reproduction by the less successful animals
    > in the society....
    >
    > So therefore we gotta take that 1.5K in taxes away from the poor boys
    > (Here in the USA, women are able to get welfare, BTW; men are not
    > unless disabled). Otherwise they might use that 1.5K to get a flashy
    > bower, err....car, and thereby compete with us for women's attention,
    > and thus weaken our chances for genetic dominance....and we just
    > can't have that....
    >
    > Now, for someone like me or you, lets see:
    > suppose I make 55K, which gives me 47K taxable, and I pay 9K fed tax
    > + 4K SS tax. That leaves me with > 30K left over, and suppose I spend
    > 10K on my condo, and food etc.
    >
    > That leaves me with 20K to build a great bower....er, get a nice
    > flashy car...I think I will get a big loud stereo and one of those
    > neon license plate holders....the women won't be able to miss me in
    > that thing.
    >
    > GENETIC DOMINANCE, HERE I COME!

    ### Yep, a big red Corvette, this is my dream, too (but not to get chicks,
    of course).

    Rafal



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