Estimated taxes for those who recieve a minimum wage at 15.00

[Drumcollie]

If you were receiving 7.25 per hour over a 40 hour week and 52 weeks your salary would be at 15080 and if you live by yourself and claim 1 dependent...you your taxes would be 98 dollars estimated for the year.

If you receive 15.00 per hour over the same period you salary would be 31,200 and the estimated tax rate with one dependent is 2,111.00 dollars.

So if you truly want to understand why liberals want the raise in minimum wages...because you will be happy with the extra income and the federal govt will get at 2000 percent increase on taxes from you.

http://www.bankrate.com/calculators/tax-planning/quick-tax-rate-calculator.aspx

There is the link...do the math.

 

[Drumcollie]

Let the Krugmania begin!

 

[worldlymrb]

Let the Krugmania begin!

If you were receiving 7.25 per hour over a 40 hour week and 52 weeks your salary would be at 15080 and if you live by yourself and claim 1 dependent...you your taxes would be 98 dollars estimated for the year.

If you receive 15.00 per hour over the same period you salary would be 31,200 and the estimated tax rate with one dependent is 2,111.00 dollars.

So if you truly want to understand why liberals want the raise in minimum wages...because you will be happy with the extra income and the federal govt will get at 2000 percent increase on taxes from you.

http://www.bankrate.com/calculators/tax-planning/quick-tax-rate-calculator.aspx

There is the link...do the math.

But .. But.. Higher labor costs for low skilled workers will create more demand (for more illegal immigrants)