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Teens, Young Adults and President Obama's Minimum Wage

eevans Wrote: Feb 16, 2013 9:29 AM
All a $9 min. wage does is pushed people working a full time min wage job from the 10% tax bracket into the 15% tax bracket! Why are none of these expert money/finance websites skipping over this. It would actually cost someone working a fulltime min. wage job more in taxes than they would make at 8.60/hr. Obama is basically trying to raise taxes on the min. wage workers half again as much and they would end up worse off than they were because not only would they be paying taxes, it would reduce what they might be eligible for in food stamps and any other federal assistance program....including college grants!
Pistol Wrote: Feb 16, 2013 9:46 AM
eevans, I believe you have uncovered Barry's master plan to save the economy. Next step will be raise the minimum wage to $250/hour. Immediately, everyone with a job will be making over $450k/year, and qualify for that shiny new tax increase. The money will roll in.
Jack3470 Wrote: Feb 17, 2013 8:25 AM
Read a copyn of the "Communist Manifesto" and "Das KLapital" A copy of Obama's Autoibiographys if you can still find them.///// You'll get Obama's plans real clear.

What effect might President Obama's 2013 State of the Union address proposal to increase the U.S. federal minimum wage from $7.25 per hour to $9.00 per hour have upon teens and young adults?

That question is especially relevant because teens and young adults between Age 15 and 24 represent approximately half of all minimum wage earners in the United States, not to mention making up a disproportionate share of individuals who earn wages just above that level.

To find out, we tapped the U.S. Census Bureau's detailed income data for the Age...