Liberal Economics

Smoky14

February 21, 2020 15:32

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!

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  hillbille

  February 21, 2020 15:45

  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????????

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  Cling2myguns

  February 21, 2020 15:53

  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.
  

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  Rocky Raab

  February 21, 2020 16:10

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

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  KenK/84Bravo

  February 21, 2020 16:26

  Needs to deported to the Socialist Country of his choice. Passport revoked.

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  mac10

  February 21, 2020 17:58

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

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