Worse than BigBird. How many minimum wage workers are needed to pay down the deficit? (Math fixed)

[we can do it]

Last edited Mon Oct 8, 2012, 08:00 AM - Edit history (1)

Since rethugs only "create" low wage/ no benefit jobs, how many minimum wage workers are needed to pay down the deficit?

Federal Minimum Wage $7.25/hr x 40hr =$290 x 52 weeks =$15080.

Here’s a quick rundown of what the Federal income tax brackets are expected to look like in 2012:
Tax Bracket Married Filing Jointly Single
10% Bracket $0 – $17,400 $0 – $8,700
....... and...........
The personal and dependency exemption will rise to $3,800
The standard deduction for married filing jointly will rise to $11,900
The standard deduction for singles will rise to $5,950

Best case scenario for tax revenue
$15080- $3,800 - $5,950= $5330 x .10 =$533

$16,000,000,000,000 divided by $533 = 30,018,761,726
Current US population 314,535,462
so Ok Mitt we just multiply the population by 10 and all will be fine.

http://www.forbes.com/sites/moneybuilder/2011/09/30/2012-federal-income-tax-brackets-irs-tax-rates/

http://www.census.gov/main/www/popclock.html

http://www.usdebtclock.org/#

[Grandcanyon99]

1. math error fix it :-)

I am sorry your math is off
$16,000,000,000,000 divided by $533 = 30,018,761,726

about 30 billion people

if every man woman and child on the planet Earth made minimum wage about 7 billion of them
it would raise the about what the Federal Government spends each year around $4 trillion

[we can do it]

2. Thanks that really makes my point stronger - Romney's full of shit

I thought that seemed too easy but I was too tired to think much more last nite.
And of course that doesn't cover yearly expenditures.