Working Poor Rejoice Over Senate Kindness
Poor and hungry families across the United States were ecstatic to learn about the Senate's generous new minimum-wage decision today, because it could mean huge new paychecks of up to $290 (gross) per 40-hour work week! That's $15,080 per year (gross)! But with no health insurance or 401k deductions to whittle away at the gross, many poor employees can hope for about $225 a week after tax and social security withholding. Better start learning about foie gras and getting fitted for Top Hats!
Republicans and businesses weren't happy with the proposal until the Senate put in some badly needed corporate tax breaks. Now it's up to the House to "sack up" and make sure their communist version of the law catches up with the Senate's.
Two-thirds of U.S. states -- including the big ones such as California and New York and Florida -- already have minimum wage rates higher than the current federal minimum, which is a rich $5.15 per hour. So even after the federal minimum wage reaches the princely $7.25 sum in three years, it will really only help the very poor in hopeless backwaters such as Mississippi, Alabama and South Carolina.