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Published byCaren Greene Modified over 9 years ago
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FEDERAL MINIMUM WAGE
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Went up to $5.85 on July 24, 2007, the first increase since September 1997. Self-Sufficiency Wage in 2007 –Brown County: $12.89
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MILLIONS WHO LIVE ABOVE THE POVERTY LINE CANNOT AFFORD HEALTH CARE, FOOD, TRANSPORTATION, AND OTHER BASIC EXPENSES. OFFICIAL POVERTY LINES ARE THUS SET TOO LOW: $10,400 FOR A SINGLE PERSON, $21,200 FOR A FAMILY OF FOUR.
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NOTE: IF ONE EARNED A SELF- SUFFICIENCY WAGE IN BROWN COUNTY ($12.89 PER HOUR), S/HE WOULD EARN $26,811 ANNUALLY: THAT IS, $5,611 OVER THE FEDERAL POVERTY GUIDELINE
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THE ECONOMIC POLICY INSTITUTE’S BASIC FAMILY BUDGET CALCULATOR SAYS THE NATIONAL MEDIAN BASIC NEEDS BUDGET (INCLUDING TAXES AND TAX CREDITS) FOR A TWO-PARENT, TWO- CHILD FAMILY WAS $39,984 IN 2004 (OR $38,136 IN NEW ORLEANS, OR $33,636 IN BILOXI, MISSISSIPPI). BASIC FAMILY BUDGET CALCULATOR BASIC FAMILY BUDGET CALCULATOR
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FAMILY OF FOUR EXPENSES based on earnings of $9.92 per hour or $1745.92 per month (22 workdays) Deductions of 15%: $261.89 Rent: $500.00 Child Care:$480.00 Transportation:$220.00 Utilities:$140.00 Remainder:$144.03 What’s Missing? What’s Missing?
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NOTE: 1 IN 10 AMERICAN WORKERS BENEFITTED FROM 2007 MINIMUM WAGE INCREASE
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Combined, “Forbes 400” (wealthiest 400 people in the country) wealth totaled more than $1.1 trillion – an amount greater than the gross domestic product of Spain or Canada, the world’s 8 th and 9 th largest economies.
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