In 20 states, the minimum wage is $7.25. The overwhelming majority of entry-level full-time jobs discourage working overtime to avoid having to pay overtime rates. The husband and wife each have five (5) days off per year, working a total of 2040 hours for a gross joint pre-tax income of $29,580.
Assuming combined state and federal taxes of nearly 17% (10-11% federal and 5-6% state), their after-tax income is $24,000. They each need their own car to go to work. Assuming a cheap sedan costs a bare-minimum $4000 per year to own and operate, after transportation they have $16,000. Rent and utilities for a 2-bedroom trailer are about $750 a month, or $9000 a year. Before food and healthcare, this couple has $7000 a year left over.
They’re going to need food banks, housing subsidies, plasma donations, and good luck just to manage to save $5000 a year between them.
In 20 states, the minimum wage is $7.25. The overwhelming majority of entry-level full-time jobs discourage working overtime to avoid having to pay overtime rates. The husband and wife each have five (5) days off per year, working a total of 2040 hours for a gross joint pre-tax income of $29,580.
Assuming combined state and federal taxes of nearly 17% (10-11% federal and 5-6% state), their after-tax income is $24,000. They each need their own car to go to work. Assuming a cheap sedan costs a bare-minimum $4000 per year to own and operate, after transportation they have $16,000. Rent and utilities for a 2-bedroom trailer are about $750 a month, or $9000 a year. Before food and healthcare, this couple has $7000 a year left over.
They’re going to need food banks, housing subsidies, plasma donations, and good luck just to manage to save $5000 a year between them.
And if you want a baby daycare blows all that math to pieces.
Pull yourself up by your boot straps and take your baby to work. Quit being lazy.