MSG Private RallyPoint Member 293974 <div class="images-v2-count-0"></div>For every employee an employer hires at $7.25/hr (minimum wage), the employer pays *at least* $17,342 per year. That doesn't include unemployment insurance, worker's comp contributions... so "at least."<br /><br />The full time employee, only sees $11.009.75 annually.<br /><br />If the FICA and MICA taxes were dropped, and the employer's costs kept constant--with the money formerly taken from the employer and the employee now going to the employee, the wage would be $8.34 per hour, which is $15,194.45 annually after taxes.<br /><br />Someone earning $20,000 ($14,435.75 after tax) now could be paid $23,000 ($20,003.75 after tax) with no additional cost to the employer.<br /><br />For a household earning the US median for 2013 of $ $51,939 ($35,307.15 after tax) now could be paid $59729.85 ($48,941,14 after tax) with no additional cost to the employer.<br /><br /> Increasing the minimum wage to $10.00/hr will result in an annual employer cost of $23,322 per employee. The employee will only receive $15,013.75. The employer will have to cut workforce by 1 of 4 to keep payroll costs equal.<br /><br />Increasing the minimum wage to $15.00/hr will result in an annual employer cost of $35,880 per employee. The employee will only receive $22,293.75. The employer will have to cut workforce by 1 of 2 to keep payroll costs equal. 2014-10-25T18:18:24-04:00 MSG Private RallyPoint Member 293974

<div class="images-v2-count-0"></div>For every employee an employer hires at $7.25/hr (minimum wage), the employer pays *at least* $17,342 per year. That doesn't include unemployment insurance, worker's comp contributions... so "at least."<br /><br />The full time employee, only sees $11.009.75 annually.<br /><br />If the FICA and MICA taxes were dropped, and the employer's costs kept constant--with the money formerly taken from the employer and the employee now going to the employee, the wage would be $8.34 per hour, which is $15,194.45 annually after taxes.<br /><br />Someone earning $20,000 ($14,435.75 after tax) now could be paid $23,000 ($20,003.75 after tax) with no additional cost to the employer.<br /><br />For a household earning the US median for 2013 of $ $51,939 ($35,307.15 after tax) now could be paid $59729.85 ($48,941,14 after tax) with no additional cost to the employer.<br /><br /> Increasing the minimum wage to $10.00/hr will result in an annual employer cost of $23,322 per employee. The employee will only receive $15,013.75. The employer will have to cut workforce by 1 of 4 to keep payroll costs equal.<br /><br />Increasing the minimum wage to $15.00/hr will result in an annual employer cost of $35,880 per employee. The employee will only receive $22,293.75. The employer will have to cut workforce by 1 of 2 to keep payroll costs equal.

2014-10-25T18:18:24-04:00 2014-10-25T18:18:24-04:00 SGT Richard H. 293983

<div class="images-v2-count-0"></div>By employer's cost remaining constant, does that mean the employer still pays their 7.5% FICA on the employee, but the employee's is dropped?<br /><br />**Edit: Also, what is MICA? I've never had a deduction with that label. As best I'm able to find, that appears to be a Maryland thing.

2014-10-25T18:22:49-04:00 2014-10-25T18:22:49-04:00 Maj John Bell 1356997

<div class="images-v2-count-0"></div>Aren't government solutions great.

2016-03-05T14:36:35-05:00 2016-03-05T14:36:35-05:00 PO3 John Wagner 3227146

<div class="images-v2-count-0"></div>Yep. And the least productive will immediately find themselves unemployed. They will not have been &quot;fired for cause&quot; as a rule. Therefore they will be lining up for unemployment benefits. Benefits which of course must be increased to reflect the higher minimum wage. Which will of course reflect the employers contribution which must even go higher.<br />And so on and so on. So eventually we get what every other socialist shithole in the world has.<br />People who can have almost as much for doing nothing as for working full time.<br />Perfect.

2018-01-04T19:22:46-05:00 2018-01-04T19:22:46-05:00 2014-10-25T18:18:24-04:00