General Discussion
In reply to the discussion: A nationwide $15 dollar minimum wage is harmful and dumb. We should advocate wage subsidies and UBI. [View all]krawhitham
(5,052 posts)$15 bucks per hour
40 hours a week
52 weeks a year
31,200 gross
Check deductions
$222.60 FED Tax LINK
$47.17 Ohio state tax LINK
$169 SS LINK
$37.7 Medicare LINK
$476.47 per month
Required Monthly bills
$600 Apartment
$95 Average monthly electric bill LINK
$258 health insurance Ohio LINK
$310 Ford's 2nd cheapest car costs 17,255. A car loan breaks down to 310 per month
$75 car insurance LINK
$78.25 Gas LINK
$210 Food (assumes 7 bucks a day on food)
$1626.25 per month
Since it is called a living wage I'll assume you are allowed to spend money on fun stuff
I'll assume the person is a cordcutter
$46.92 Home Internet LINK
$10 Netflix
$73 Cell phone LINK
$129.92 per month
All that totals $2,232.64 per month or $26,791.68 a year
That leaves you will $84.75 a week left to deal with random stuff that always come up
New Cloths
Cleaning Cloths (your in an apartment so I assume you do not have your own washer and dryer)
Household items
Car Maintenance
OTC Drugs
Dates
Christmas presents
Not much if any wiggle room, and that is at today's costs. All these laws passing supporting 15 bucks an hour are slowly rolled out, California does not hit $15 a hour for 6 more years. $15 is living wage NOW, in 6 years it will take even more