Why should we raise minimum wage? Minimum Wage = $ 7.25 40 hour - TopicsExpress

Why should we raise minimum wage? Minimum Wage = $ 7.25 40 hour week = $ 290.00 -$ 29.00 -- 10% of income Federal Income Tax -$ 17.98 -- 6.2% of income Social Security Tax -$ 4.21 -- 1.45% of income Medicare Tax -$ 22.19 -- 7.65% of income FICA Tax Week Net Pay = $ 216.62 Per Month = $ 866.48 Per Year = $ 10397.76 U.S. Poverty Guideline = $ 11,490.00 Minimum Wage Yearly Income = $ 10,397.76 Amount Below Poverty Level = $ −1092.24

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