Liberal Economics

Smoky14

Bernie Sanders said at the debate last night that he wants minimum wage to be $15 per hour.

$15 X 40 hr week = $600
$600 X 52 weeks per yr = $31,200

Bernie Sanders wants free health care for all and was asked how he would pay for it. His answer was raise taxes to 52% on anybody making over $29,000 per year.

52% of $31,200 = $16,224 in tax
$31,200 - $16,224 = $14,976 is your pay
$14,976 ÷ 52 weeks = $288 per week
$288 ÷ 40 hr week = $7.20 per hour

So much for $15 an hour minimum wage
Think people!

hillbille

in reality it is the employer who is picking up the insurance, the employee is still making the current minimum wage or slightly less... so how many small/medium size businesses will go out of business because of this????????

Cling2myguns

First mistake you made is trying to understand "liberal economics". Oxymoron at best.

I will give Bernie the benefit of the doubt and assume it is graduated to where the 52% applies after the $29k, meaning the 2K in your example would be subject to that level of tax. But who knows, trying to rationalize insanity only leads to insanity.

Rocky Raab

As an avowed socialist, his economic principle is simple: We will take everything you have to give it to those who want everything.

mac10

person gets 12000,00 personal deduction   unless they take that too