In response to:

Riddle Me This Obama: If Healthcare Costs are Our Problem, What Was Obamacare About?

eevans Wrote: Feb 14, 2013 9:38 AM
After Obama SOU speech and his throwing out that min. wage should be $9/hr which I'm sure all the min.wagers yelled "YES" at, it struck me that if would raise a full-time workers income to $18,720. That exceeds the max. amt of $17,900 which qualifies for 10% tax bracket! To stay in the 10% tax bracket a full-time worker cannot make more the 8.60/hr $9/hr would mean a 50% tax increase to the tax brack of 15%. I really don't think that Obama wasn't aware that it would increase min.wagers taxes because the 40 cents and hr more was calculated. 15% of $18,720 is $2,808 and obviously 10% of $17,900 is $1,790.....a tax increase of $1,018. The total gain for that $9/h would only be all of $820 a year... taxes on eat the rest away!
Barbara1247 Wrote: Feb 14, 2013 11:29 AM
Why doesn't he just legislate a minimum wage of $90/hr so that everyone will be wealthy!? Obviously, the same reasons that make this a dumb idea also apply to minimum wage laws in general.
Raven7 Wrote: Feb 14, 2013 11:07 AM
No problem - just adjust the tax brackets upward.
True Conservative! Wrote: Feb 14, 2013 10:20 AM
The 15% bracket applies only to the earnings ABOVE $17,900 and not the whole amount!
John2038 Wrote: Feb 14, 2013 11:11 AM
Umm are you sure? Most tax brackets are set based on your total earnings i.e. if you make a certain amount you pay taxes at the rate for that amount for all you earned. Just had to ask for verification.
True Conservative! Wrote: Feb 14, 2013 11:23 PM
Positive ... I just revised my tax spreadsheet!
James____Tx Wrote: Feb 14, 2013 9:42 AM
Good point but a mute one for many minimum wage employees because if the minimum wage is raised to $9 an hour their jobs will no longer exist.
Beverly143 Wrote: Feb 14, 2013 9:48 AM
With the way things are going with Obamacare and employee subsidized health insurance, a full time job will become the exception, not the rule.
James____Tx Wrote: Feb 14, 2013 9:52 AM
Yup, seems to be happening all over the country. I think we are going to see a huge up surge in temp agencies.

This is a time when the population of America should be throwing rose petals at the feet of the Great Leader, Miracle Worker, Economist, Ph.D and Professor of Constitutional history, Dr. Barack H. Obama, MD.

All of our problems should be solved now.

Two years ago we were told and sold that Obamacare, the keystone legislative effort of Obama’s first two years, would solve our problems when it comes to out-of-control government spending.

It’s a deficit reducer, Washington Post wonk Ezra Klein told us about the government takeout of healthcare under the banner of “reform.”