- Nov 14, 2017
- 9,889
- 5,703
- Country
- United States
- Faith
- Christian
- Marital Status
- Single
- Politics
- US-Others
Government assistance is not working .... what can be done about it?
What are your ideas?
There is this ....
Living Wage Calculator
Living wage
An analysis of the living wage (as calculated in December 2022 and reflecting a compensation being offered to an individual in 2023), compiling geographically specific expenditure data for food, childcare, health care, housing, transportation, and other necessities, finds that: The living wage in the United States is $25.02 per hour, or $104,077.70 per year in 2022, before taxes for a family of four (two working adults, two children), compared to $24.16, or $100,498.60 in 2021.
What is the minimum wage federal government?
$7.25 per hour
The federal minimum wage is $7.25 per hour. This rate applies to covered nonexempt workers. The minimum wage for employees who receive tips is $2.13 per hour
Set by the government .... grossly lacking for what is needed.
Now there are some companies that can not afford the needed $25.02. So it seems to me large companies that can still be profitable and pay the $25.02 (profit of 10%) after all expenses (wages, taxes, operating etc.) should be required to pay the $25.02/hour needed in full.
Those business who can not ... should be subsidized by our tax dollars (for a limited time frame)
What comes into question ... is .... amount of profit ..... what is the amount that could subsidized using tax dollars?
A healthy profit margin for a small business tends to range anywhere between 7% to 10%. Ok .... lets take the higher percentage.
Allow new business to receive a tax payer subsidy for a limited time (maximum time frame of 7 years) ... existing business allow a subsidy to help them meet the $25.03 hour needed for the same time frame.
Reduce the subsidy by 1% per year with the subsidy ending totally at the end of the 7th year. Whatever profit margin they may or may not have at that time they can choose to remain open .... or cease doing business.
Those companies/businesses that make in excess of 10% or over (after all expenses, including taxes and wages of $25.03) should be required to pay the full $25.03/hr needed .... for those businesses who can't ... if a business is not able to meet the $25.03 needed then taxpayers subsidize the businesses beginning at 10% profit threshold (reducing the threshold by 1% each year until the end of the 7th year) ...at that time the business can decide if they want to stay in business or not. By beginning at the 10% subsidy rate would encourage people to go into business ... by reducing the threshold it would encourage them to continue to be profitable. Of course all businesses would be required to submit a business plan to be approved by a committee composed of both government financial overseers and a board from the banking industry before being granted a subsidy. Yeah, I know .... kind of spooky involving banks but .... lenders are the most knowledgeable about the business climate, supposedly. It would take the two to determine if the business plan is a viable one or not. Bankers/banks participating on the boards would not be allowed to lend to businesses that are receiving a subsidy.
Business should be encouraged/promoted because they provide jobs. People should work if they are physically and mentally able to. People need the freedom to make choices in regard to where and how they live (they can only do this if they are making a livable wage) .... government dependency does not adequately provide for this, in fact it become a trap for many people. The only way to provide people a decent wage is through working .... therefore encouraging business would be a better resolve. Government currently attempts to do this through taxes ..... that isn't working because of "loop holes" in the tax system .... and besides that the tax system is WAY too complicated ..... we need a flat tax system. If people are earning a livable wage they can afford to pay taxes. Currently the tax rate of excess of $101,000 is 24% ... so if that was applied that would leave a person with about $76,000 left after federal tax and using the highest state tax rate NY (12.47) about $12,600 that leaves 63,000 and then less social security and medicare (6.20 percent) $6,200 ... leaving the person to live off of at about $57,000 .... is that enough? I believe so .... I am able to do so.
Just some ideas .... what we do know what is in place is not working. To me it would be better to subsidize businesses that would allow for the needed wage for individuals and also helping/encouraging the businesses to be profitable .... this would provide individuals more freedom to make better choices for themselves.
This would end the need for government housing, which is a total disaster (and possibly end other government programs that are inadequate).
There has to be better resolves than what is currently in place ..... it's not working!!
What are your ideas?
What are your ideas?
There is this ....
Living Wage Calculator
Living wage
An analysis of the living wage (as calculated in December 2022 and reflecting a compensation being offered to an individual in 2023), compiling geographically specific expenditure data for food, childcare, health care, housing, transportation, and other necessities, finds that: The living wage in the United States is $25.02 per hour, or $104,077.70 per year in 2022, before taxes for a family of four (two working adults, two children), compared to $24.16, or $100,498.60 in 2021.
What is the minimum wage federal government?
$7.25 per hour
The federal minimum wage is $7.25 per hour. This rate applies to covered nonexempt workers. The minimum wage for employees who receive tips is $2.13 per hour
Set by the government .... grossly lacking for what is needed.
Now there are some companies that can not afford the needed $25.02. So it seems to me large companies that can still be profitable and pay the $25.02 (profit of 10%) after all expenses (wages, taxes, operating etc.) should be required to pay the $25.02/hour needed in full.
Those business who can not ... should be subsidized by our tax dollars (for a limited time frame)
What comes into question ... is .... amount of profit ..... what is the amount that could subsidized using tax dollars?
A healthy profit margin for a small business tends to range anywhere between 7% to 10%. Ok .... lets take the higher percentage.
Allow new business to receive a tax payer subsidy for a limited time (maximum time frame of 7 years) ... existing business allow a subsidy to help them meet the $25.03 hour needed for the same time frame.
Reduce the subsidy by 1% per year with the subsidy ending totally at the end of the 7th year. Whatever profit margin they may or may not have at that time they can choose to remain open .... or cease doing business.
Those companies/businesses that make in excess of 10% or over (after all expenses, including taxes and wages of $25.03) should be required to pay the full $25.03/hr needed .... for those businesses who can't ... if a business is not able to meet the $25.03 needed then taxpayers subsidize the businesses beginning at 10% profit threshold (reducing the threshold by 1% each year until the end of the 7th year) ...at that time the business can decide if they want to stay in business or not. By beginning at the 10% subsidy rate would encourage people to go into business ... by reducing the threshold it would encourage them to continue to be profitable. Of course all businesses would be required to submit a business plan to be approved by a committee composed of both government financial overseers and a board from the banking industry before being granted a subsidy. Yeah, I know .... kind of spooky involving banks but .... lenders are the most knowledgeable about the business climate, supposedly. It would take the two to determine if the business plan is a viable one or not. Bankers/banks participating on the boards would not be allowed to lend to businesses that are receiving a subsidy.
Business should be encouraged/promoted because they provide jobs. People should work if they are physically and mentally able to. People need the freedom to make choices in regard to where and how they live (they can only do this if they are making a livable wage) .... government dependency does not adequately provide for this, in fact it become a trap for many people. The only way to provide people a decent wage is through working .... therefore encouraging business would be a better resolve. Government currently attempts to do this through taxes ..... that isn't working because of "loop holes" in the tax system .... and besides that the tax system is WAY too complicated ..... we need a flat tax system. If people are earning a livable wage they can afford to pay taxes. Currently the tax rate of excess of $101,000 is 24% ... so if that was applied that would leave a person with about $76,000 left after federal tax and using the highest state tax rate NY (12.47) about $12,600 that leaves 63,000 and then less social security and medicare (6.20 percent) $6,200 ... leaving the person to live off of at about $57,000 .... is that enough? I believe so .... I am able to do so.
Just some ideas .... what we do know what is in place is not working. To me it would be better to subsidize businesses that would allow for the needed wage for individuals and also helping/encouraging the businesses to be profitable .... this would provide individuals more freedom to make better choices for themselves.
This would end the need for government housing, which is a total disaster (and possibly end other government programs that are inadequate).
There has to be better resolves than what is currently in place ..... it's not working!!
What are your ideas?