It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
originally posted by: OccamsRazor04
a reply to: Subaeruginosa
So your claim is Australia has no high crime areas? The City of Hume begs to differ.
Musicians don't make minimum wage, so using them to prove a minimum wage point is ridiculous. Working 60 hours of min. wage where I live would allow him to own a 3 bedroom home, and assuming he had a wife also a min wage job they would be VERY well off, take family vacations, great Christmas presents, and that's at $8 an hour, and his wife only working 40 hours.
originally posted by: Subaeruginosa
But just for arguments sake, lets go by the current Detroit minimum of 8.15 and forget about bloody eminem, since no one knows exactly what his circumstances where. Just a generic family with 2 kids where the Dad is forced to work 60 hours a week and the mother 40 hours a week at minimum wage (Btw, they would have no kind of quality of life and it would create a very unhealthy family life, imo).
-60 hours a year is $25,428 (considering there’s a 2,000 a month tax free threshold as I've been told in one of these threads) that would make it a $24,000 net income. Still less than a 38 hour a week minimum wage @USD in Australia.
-40 hours a year is $16,952, assuming it’s tax-free? (Not much more than what a single person with no kids gets on the dole in Australia)
Total= $40,952 net combined yearly income.
-US average monthly mortgage repayments is $655/ or 7,860 Yearly
-Average cost of childcare $3582 to $18,773 yearly, so average $10,000 a year
-Average monthly electricity $200/ or $2,400 a year
-Yearly water $474
-Yearly gas $1200
2317 Calvert St,
Detroit, MI 48206
6 beds-- baths4,572 sqft
Then weekly grocery bills with say 2 kids has got be at least $200
-Yearly grocery bills $10,400
Total basic living cost = $32,334
That Then leaves a total of $8,618 a year for clothes, phone bill, fuel, car repayments, medical bills, insurance payments and any extra curriculum activities or toys that children need to have any kind of quality of life.
So even if the Dad is working full time 7 days a week and the mothers working full time 5 days a week on minimum wage, they still probably wouldn't to be able to cut even.
Either way, it’s not the pretty little picture you’re trying to paint it as with relaxing yearly vacations and a large disposable income left for all those luxury items. Seems more like a hard depressing life to me, where even the most basic necessities are a struggle to provide.
And no, that is not a fluke sale, I can show lots more just like it.
Childcare will be $7k-$10k, so we will say 10k. 13k total.
$4k for gas, water, electric, 17k total.
Any moron can get a better than minimum wage job.
originally posted by: Subaeruginosa
But where talking 2 kids aren't we (forgot to add that into my estimates), so they now lose there 7k a year for leisure and are probably now in the minus.
Anyway, it still doesn't change the fact that we're talking about a Dad working 20 hours over normal and a mother working full time, which people should only need to do to gain a higher quality of life, not to simply survive!
What like a moron who has the ability to gain a 170 million dollar net worth, once given a chance to succeed.
That leaves only about 1.1 percent of all workers over 25 and 0.8 percent of all Americans over 25 earning the minimum wage.
originally posted by: Divin3F3nrus
a reply to: sirlancelot
Im not even going to read what anybody else has posted and tell you what you are mssing. The assumption that the full labor cost would be transferred onto the customer is where you go wrong. When the minimum wage is raised to $15/hr a company changed how it calculated its profit in a way. Companies like to have a margin where they make a percentage of whatever they spend. Let's say for example that theytry to make 50% of what they spend. That means that for every dollar they spend they want to pull in 1.50. IF you keep the same margin and increase the wages then yes the cost will be transferred, however economists agree that if everybody is paid more that the companies will do more business. This means that they could pull in more money with more sales and a lower margin. In order for this to work we would need to regulate how high the margins can be for a campany to insure that the margins stay low and we keep the dollar from being inflated.
If you are like I was and just barely make enough to survive you end up saving everything you can to make a better life for yourself. If you are like me now and make an excess then you spend your money on luxuries while still being able to save for the future. If we all got paid more we would spend more, and companies would still make a large profit becuase of the VOLUME they would be dealing in.