{"id":42292,"date":"2014-03-11T06:00:40","date_gmt":"2014-03-11T11:00:40","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=42292"},"modified":"2014-03-10T11:46:24","modified_gmt":"2014-03-10T16:46:24","slug":"beneficiaries","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=42292","title":{"rendered":"Beneficiaries"},"content":{"rendered":"

Got this via email:<\/p>\n

Who benefits the most from a minimum wage increase?<\/p>\n

Here are some back of an envelope calculations:
\n40 hrs a week X 52 weeks = 2080 hrs<\/p>\n

FICA: employee tax = 6.2%, employer = 6.2%, total 12.4%
\nSECA: employee = 1.45%, employer 1.45% total 2.9%<\/p>\n

total FICA\/SECA combined = 15.3%<\/p>\n

current govt take
\n2080 x $7.25 = $15,080.00 x 0.153 = $2,307.24<\/p>\n

proposed govt take
\n2080 x $10.10 =$21,008.00 x 0.153 = $3,214.224<\/p>\n

Net gain for govt = $906.984<\/p>\n

now just for fun lets index the minimum wage to the rate of inflation, who else gets an automatic raise with that?<\/p><\/blockquote>\n

Government Union members!<\/p>\n","protected":false},"excerpt":{"rendered":"

Got this via email: Who benefits the most from a minimum wage increase? Here are some back of an envelope calculations: 40 hrs a week X 52 weeks = 2080 hrs FICA: employee tax = 6.2%, employer = 6.2%, total 12.4% SECA: employee = 1.45%, employer 1.45% total 2.9% total FICA\/SECA combined = 15.3% current […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57,69],"tags":[],"class_list":["post-42292","post","type-post","status-publish","format-standard","hentry","category-economy-and-the-market","category-socialism"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/42292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42292"}],"version-history":[{"count":4,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/42292\/revisions"}],"predecessor-version":[{"id":42330,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/42292\/revisions\/42330"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42292"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}