Printable View
Oh Oh! Some Wayne Country employees and its unions may have to work for $5.60 an hour. Much less than working at McDonald's Restaurants. This is due to its municipal bankruptcy and if Gov. Snyder, the geek has his way with the consent agreement. What the employees to do working for $5.60 and hr? Looks like fun times will be over. Walk outs may happen, most their bills can't get paid in time. The no more Christmas bonuses, too. Don't blame Evans, blame Ficano!
1. Just about all employees, by law, must be paid at least minimum wage [[which is $8.10/hr, not $5.60/hr).
2. Do you have a source to back up this information?
Sorry but this is the most idiotic thing I have ever read on this website. Not legal and not true obviously.
Quote:
Originally Posted by 313WX
Yes go to Myfox2detroit.com
Danny, Danny, Danny... Do you read, read, read what you post, post, post?Quote:
Originally Posted by Danny
This is ONE sentence in the middle of the article:
"Martin claims if his workers are forced to take these concessions - a mid-level equipment operator, for example - a snow plow driver - would make about $5.65 an hour after taxes."
The reported wage reduction is 5% [[not 25% or some big, big number).
Taking the claim at face value, I don't, but like the key is AFTER TAXES.
I never reported my salary after taxes... :rolleyes: [[Don't most workers pay say 25-30% in Federal income tax, state income tax, and FICA taxes?)
Here's the link, yes it's after taxes [[net not gross):
http://www.myfoxdetroit.com/story/29...at-560-an-hour
People who make $8.10/hr don't pay $2.45 [[30%) in taxes. I guess asking the reporter to perhaps challenge the calculations on the fly is too much to expect.
I find this whole story poppy cock.Quote:
Originally Posted by BankruptcyGuy
Snow plow drivers don't [[won't) work for the min. wage.
And to extend B'Guy's comment: A typical min. wage person's federal income tax levy is probably a quarter or fifty cents an hour [[maybe a nickel or less) depending.
I haven't kept up with this stuff, but I'd guess many min. wage workers pay zero federal income tax. Doesn't the personal exemption and standard deduction wipe out say close to 10K of gross income for a single person [[I haven't kept up with these things. Turbo Tax does my 'thinking'.)
Indeed.
E.g., a 19 year old, maybe living at home, single working for a min. wage job, doesn't pay ANY federal income tax of the first $10,150 / year in gross income [[see line #5 below on 1040ez):
http://www.irs.gov/pub/irs-pdf/f1040ez.pdf
So Johnny or Jamal working 25 hours a week at McDonalds [[assuming min. wage) and taking some classes at a community college would pay ZERO dollars federal income tax, maybe a few hundred dollars state income tax and say $750 for FICA.
That comes out to 10% TOTAL tax and FICA deductions for my hypothetical person.
[I don't know anything about earned income tax credits, etc.]
Far cry from 20, 25 or 30%.
Bad people make bad government. Plain and simple.
But it does make a great headline, doesn't it! Facts are not relevant. What's important is this got quoted in the newspaper to get everyone upset. Martin himself says 'he'll be OK', since he has 31 years in. Brothers all -- except some brothers are more equal.Quote:
Originally Posted by BankruptcyGuy
Is this station part of the Fox family? :rolleyes:Quote:
Originally Posted by Wesley Mouch
But I guess anyone can say anything and if a reporter takes what he/she says verbatim we got a story but a lot of problems.
One thing about a forum, such as this one, is that we can take a statement and analyze, research, debate [[it) to we get to the point that we have a lot of information and opinions. Get away from half truths, bumper stick slogans, etc. etc.
The Fourth Estate used to put a bit more effort in when researching and creating stories. I think it would have made a wonderful video to have someone challenge this calculation on the air:
Where did you get this from?
How did you come up with the number?
Did you take into account the difference in tax rates based on income?
BG -- The Fourth Estate is essentially gone. Its replaced by legions of press hacks who abuse the media.Quote:
Originally Posted by BankruptcyGuy
The media is hungry for content. Publicists, lobbyists, and single-issue organizations push their content -- which is gladly gobbled up and displayed.
I think its very likely that this story was initially a fabrication by someone from the Union who wanted to put heat on the County. It was picked up by a hungry channel [[oddly Fox). And got spread around. They got what they wanted.
Facts do not matter. The idea that the country is abusing union workers does. They got their message out. Doesn't matter if it were refuted on the air. The choir would approve.
Maybe not exactly 30%, but still pretty darn close [[25%) when you factor city income taxes, state income taxes, federal income taxes and payroll taxes.Quote:
Originally Posted by BankruptcyGuy
http://www.paycheckcity.com/calculator/hourly/result
This is of course assuming no allowances are taken and not including any credits or exemptions claimed when it's time to file taxes.
Now that makes sense. Thanks.Quote:
Originally Posted by Zacha341
What????
Federal income tax might be 3 - 4%. FICA is 8%. State a couple percent? City? IDK [[I don't know).
Federal income taxes begin at 10K. So less than 5K is taxed at the lowest level.
The marginal Federal Income Tax rate at the lowest bracket is 10%, not 3-4%. Someone making minimum wage full time would actually be paying a marginal rate of 15% plus another ~$1,000 on top of their earnings.Quote:
Originally Posted by emu steve
The State Income Tax rate is just over 4%, not "a couple percent."
The City Income Tax is 2.4%.
Yes, federal income tax is 10%, BUT 10% of the income over 10,150.Quote:
Originally Posted by 313WX
"If no one can claim you [[or your spouse if a joint return), enter $10,150 if single; $20,300 if married filing jointly." [[this is from the 1040EZ tax form).
So a 8.10 / hour worker pays 10% of less than 7K [[based on 40 hours / week x 52 weeks x 8.10 / hour - 10,150).
My math: 40 x $8.10 x 52 = $16,848 - 10,150 = $6,698 taxable income with a tax of $668. 668 / 16,848 = 3.96%
I come up with a Federal TAX RATE of 4%.
As far as MI and Detroit income taxes, most states and cities provide exemptions and deductions which greatly make the effective rate to much less than the stated rate [[4.25% in MI).
The Federal Income Tax rate is only 10% for earnings up to $9,075. Beyond $9,075 up to $36,900, the Federal Income Tax is 15% plus another $907.50 on top of earnings.Quote:
Originally Posted by emu steve
https://en.wikipedia.org/wiki/Rate_s...al_income_tax)
That exemption is only claimed when filing taxes. It doesn't help a person when they're receiving their paychecks.Quote:
Originally Posted by emu steve
Okay, okay, okay... I'll print out a 1040EX and complete a tax return [[but won't send it in :cool:). Earlier in this post, I was working off the 1040EX form. I might have made a mistake but I did briefly fill it out. I'll double check my work.Quote:
Originally Posted by 313WX
BTW, this is the 1040 tax table I used. Do 1040EZ filers have a different tax table????
http://www.irs.gov/pub/irs-pdf/i1040tt.pdf
As far as exemptions, an employee can claim whatever they want on the W-4 to make their withholding whatever they want.
I'd guess our hypothetical employee would claim say 3 or 4 exemptions.
I don't think it's reasonable to assume that these taxpayers won't take the standard deduction nor will they properly fill out the W4 to withhold the correct amount. I also think "after taxes" means "after taxes you actually pay" not "after taxes that are withheld and then returned to me."
emu, you could put a minimum wage worker for a year and see what the actual tax bill is, with all the credits that person would qualify for.
According to the Tax Policy Center, the average effective income tax rate for the lowest quintile was negative 7.5%, and the average overall tax rate was 0.9%. That's a LONG way from 25% or 30%.
http://www.taxpolicycenter.org/taxfa....cfm?Docid=456
Tomorrow I'll prepare a facetious 1040EZ tax return for "EMU Steve" [[40 hours / week, 52 weeks @ $8.10 / hour) and post it here [[but not mail it. don't want to get in trouble).Quote:
Originally Posted by BankruptcyGuy
Will be interesting to see how it turns out. Is our theoretical EMU Steve married or single? Does his partner work? Does he have children?Quote:
Originally Posted by emu steve