General Discussion

JDPriestly

(57,936 posts)

32. The highest Social Security benefit is about $3,300 per month. Nobody gets $10,000 per month.

Tue Nov 5, 2013, 03:44 AM

Nov 2013

That reasoning is irrelevant.

Here is the minimum wage chart, state by state.

http://www.ncsl.org/research/labor-and-employment/state-minimum-wage-chart.aspx

About 18 states have a higher minimum wage that $7.25 per hour.

The average Social Security monthly benefit is $1,269 per month. A 40-hour week times 50 weeks is 2000 hours times the federal minimum wage of $7.25 equals $14,500 divided by 12 equals $1208 except, as we have seen the average minimum wage across the country is higher than $7.25. So Social Security on average pays about the same, maybe even a little less than minimum wage.

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Be Very Afraid: The American Economy Is Cannibalizing Itself, and We the People Are Going to Pay [View all] xchrom Nov 2013 OP

And if you are in the top 10% . . . TomClash Nov 2013 #1

If they don't kill you 99th_Monkey Nov 2013 #26

Shhhhh . . . TomClash Nov 2013 #38

"Fail, America, Fail." - Republicon Starve-the-Beast Freaks (R) Berlum Nov 2013 #2

Here's a little fact to tell a Republican living on Soc Security reformist2 Nov 2013 #3

Is that true?? A Little Weird Nov 2013 #4

If the federal minimum wage applied in all states, that would be quite true. JDPriestly Nov 2013 #31

Thanks for the explanation A Little Weird Nov 2013 #35

Exactly. Furthermore I loathe the insinuation in that post that says seniors are doing so well duffyduff Nov 2013 #39

Right. Whereas the minimum wages is that -- the minimum. JDPriestly Nov 2013 #40

ok, at 40 x $7.25 x 4.3 (weeks in a month) Bohunk68 Nov 2013 #13

citing an "average" most certainly does NOT mean that "half are below." magical thyme Nov 2013 #17

Nope. Myrina Nov 2013 #21

oops! yikes.... magical thyme Nov 2013 #36

The highest Social Security benefit is about $3,300 per month. Nobody gets $10,000 per month. JDPriestly Nov 2013 #32

Actually, you are thinking "Median". rgbecker Nov 2013 #18

Except that Social Security benefits top out at, if I recall correctly, about $3,300. And very few JDPriestly Nov 2013 #41

I couldn't find it either, but if you.... rgbecker Nov 2013 #42

The median and average are so close because the difference between the highest and lowest JDPriestly Nov 2013 #44

The point is that 160 hours of work per month ought to amount to more than a Soc Security check. reformist2 Nov 2013 #23

they'll take care of that, by reducing SS benefits Skittles Nov 2013 #25

In my mom's case, Art_from_Ark Nov 2013 #28

It does in many states. JDPriestly Nov 2013 #33

Actually, it's about the same: JDPriestly Nov 2013 #29

We need the opposite dreamnightwind Nov 2013 #5

Yes, the "payroll tax holiday" dotymed Nov 2013 #7

real wages (buying power) have been declining since 1979 KurtNYC Nov 2013 #6

The 700,000 of us Detroiters would beg to differ, but I suppose I get your point. marmar Nov 2013 #11

I grabbed Detroit because so many are familiar with it but KurtNYC Nov 2013 #16

That is good for the environment. JDPriestly Nov 2013 #30

We won't be able to sell our home for a while for any decent price. eilen Nov 2013 #12

What scares me is that I am not hearing any vision for the future. KurtNYC Nov 2013 #15

Obama himself said the jobs are not coming back. grasswire Nov 2013 #27

k&r for the truth, however depressing it may be. n/t Laelth Nov 2013 #8

k/r marmar Nov 2013 #9

The Oligarchs And Corporations Own And Control The Politicians That Own And Control Us cantbeserious Nov 2013 #10

Democrats included, they are almost all bought off! Dustlawyer Nov 2013 #14

I think it is part of the zombie fascination making the rounds. raouldukelives Nov 2013 #19

Corporate thieves, corporate fascists. nt woo me with science Nov 2013 #20

Wanna hear something really scary? bvar22 Nov 2013 #22

the blue links of death is looking for you! nt xchrom Nov 2013 #24

Mmmm. Some mighty fine tea they must be drinking in DC. nt adirondacker Nov 2013 #37

K & R. dchill Nov 2013 #34

kick woo me with science Nov 2013 #43