Thursday, December 16, 2010

Who does better the family making 60K or the one making minimum wage?

More evidence that we now punish the so called "middle class" for working hard. A single parent family with 3 children has more actual income than a family making 60K a year.

As the above chart provided by Wyatt Emerich shows, the family making $60,000.00 a year has over $2000 less actual income than someone who makes minimum wage. A large portion of this is due to the Medicaid insurance coverage, which of course a family making 60K is not eligible for. The real kicker is that many of these folks who take advantage of of all these benefits also receive SSI (Supplemental Security Income), which is not included. This also assumes the single family provider is paying child care so they can work full time. If this hypothetical single family parent only works part time or one week a month, while still making minimum wage, the Child care cost is of course eliminated which increases this total even more.

Add to that the possibility of gaming the system by working on the side for cash. And a "poor" family could actually do quite well living off the the redistribution of wealth.

Think about this, as soon you will be hearing much more about how we need to make those rich people pay their fair share.



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