Bill Cullen wrote: 3.) Asking who and how can people live on $7.00/hour?
Vicky applies a pencil: I calculated the Net Take Home Pay, after taxes, assuming a 40 hour work week, for a single person with no dependents. People with children would receive approximately 25% more because of the earned income tax credit. $6.15 per hour, $198.18 per week, $10,305.36 per year. $8.25 per hour, $258.75 per week, $13,455.00 per year. $10.00 per hour, $308.40 per week, $16,036.80 per year. $12.50 per hour, $380.75 per week, $19,799.00 per year. At the minimum wage of $6.15 per hour, two people could afford, without subsidy, a nice apartment for around $600 per month, $7,200 per year out of total take home pay of $20,610.72. When young and/or broke, people share expenses to make ends meet. It should be noted that HUD claims the AMI (area median income) in Minneapolis is $53,700 for a single person. This allows "affordable housing" developers to charge high rents, and rent to people who don't need subsidies at all. 60% AMI = $32,220 per year. 50% AMI = $26,850. Arithmetic by, Vicky Heller Cedar-Riverside and North Oaks TEMPORARY REMINDER: 1. Send all posts in plain-text format. 2. Cut as much of the post you're responding to as possible. ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
