An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Tuesday, July 16, 2013
Laura Clawson — McDonald's offers workers a budget solution: Get a second job
Hmm, Mc Donalds generally pays the government's minimum wage, which is no problem with a huge pool of unemployed people. So we get:
$2060 / 7.25/hr = 284 hours / month
52 weeks in a year / 12 months in a year = 4.33 weeks in a month.
284 hours/month / 4.33 weeks in a month ~ 65.5 hrs / week
65.5hrs/wk / 6 days in a week ~ 11 hrs / day working
So To make 2,060 / month they work 11 hours a day, six days per week in two jobs, no overtime pay of course, as both jobs are part time.
And $20/mo for health care!
Go America, Go Congress, Keep fighting over student loan interest payments for months on end, because the $25/month in interest payments that you squabble over, it makes a huge difference!
Good point, Kaj, they would get a Earned Income credit that should more than offset their payroll tax liability and might add a lump sum couple thousand a year payment as well. And of course they would have rental assistance and food stamps. They could get by, I guess.
The central banking system is alive and well, the central banks give the corporates cheap money to run up the stock market, buy back their stocks on the cheap to get their EPS up for earnings so the pig execs can get there ill gotten gains, the corporates buy off the gubbament chronies who pass laws to give food stamps to their employees, and turned jails into concentration camp money centers, and all this social system is due to the federal reserve act and the many changes made to it to increase the squids tentacles grasp on anyone who wants to be free, lets not forget the offshore profits that are hidden in the copius tax laws. What a scam, wish I could get in on the rip off, just a lonely sheeple getting hosed like the rest of the sheeple.
Hmm, Mc Donalds generally pays the government's minimum wage, which is no problem with a huge pool of unemployed people.
ReplyDeleteSo we get:
$2060 / 7.25/hr = 284 hours / month
52 weeks in a year / 12 months in a year
= 4.33 weeks in a month.
284 hours/month / 4.33 weeks in a month ~ 65.5 hrs / week
65.5hrs/wk / 6 days in a week ~ 11 hrs / day working
So To make 2,060 / month they work 11 hours a day, six days per week in two jobs, no overtime pay of course, as both jobs are part time.
And $20/mo for health care!
Go America, Go Congress, Keep fighting over student loan interest payments for months on end, because the $25/month in interest payments that you squabble over, it makes a huge difference!
No taxes?
ReplyDeleteGood point, Kaj, they would get a Earned Income credit that should more than offset their payroll tax liability and might add a lump sum couple thousand a year payment as well. And of course they would have rental assistance and food stamps. They could get by, I guess.
ReplyDeleteThe central banking system is alive and well, the central banks give the corporates cheap money to run up the stock market, buy back their stocks on the cheap to get their EPS up for earnings so the pig execs can get there ill gotten gains, the corporates buy off the gubbament chronies who pass laws to give food stamps to their employees, and turned jails into concentration camp money centers, and all this social system is due to the federal reserve act and the many changes made to it to increase the squids tentacles grasp on anyone who wants to be free, lets not forget the offshore profits that are hidden in the copius tax laws. What a scam, wish I could get in on the rip off, just a lonely sheeple getting hosed like the rest of the sheeple.
ReplyDelete