Ok, for this exercise, I am going to be President SJ. Now, the federal minimum wage is $7.25. A full time salary with that rate for the 8 hour day is $64, for the week $320, for the month (4 weeks) $1280, for the quarter (3 month period) $3840.
Let us take a small business that makes $50,000 per year. The tax bracket would be 15%. $50,000 / 12 months = $4167 rounded off.
$4167 times a quarter of a year 3 months is $12,501. Fifteen percent of $12,501 rounded off is $1875 and that's what the tax is for that year give or take some pennies cause it is rounded off.
Uh oh. We got a situation here. I'm gonna reduce the minimum wage to $5/hr. For a five hour a day part time job, that's $25/day, for a week it's $125, for a month it's $500. For three months it's $1,500.
These workers won't be going to Vegas but they won't starve; and all this without having to rely on Uncle Sam.
$1,875 of the tax paid for the bracket minus $1,500 the cost of the job for the quarter = $375 left to paid in taxes. The new tax rate for the bracket is 2.9997600191984643%
Next thing I'm gonna do is kick out all the illegal aliens. Bam! I just created millions of more jobs for American citizens. Like magic.
And the next thing after that is I'm gonna create more zoning for industry. Even more jobs have thus been created.
Imagine President SJ doing something like this for the rest of the tax brackets, and I've created more jobs than Obama, and I didn't even graduate from Harvard.
4 comments:
You may have a valid point about reducing the minimum wage. However, most of the rest of this is either impractical (just how do you intend to kick out all the illegal immigrants) or simply divorced from reality. The US has no federal zoning rules. The President has no control over industrial zoning. That is a local or state level issue. It isn't even clear to me that Constitutionally the feds could implement general zoning rules even if they wanted to although their have in the past been a handful of attempts to do so. See for example http://findarticles.com/p/articles/mi_m1571/is_27_18/ai_90114134/ . There are also some federal laws that give exemptions to certain classes of state zoning laws (especially in certain contexts to religious organizations) but even that is completely congressional. There's no way the President has any say in that.
Moreover, creating additional industrially zoned areas isn't going to add more jobs. It won't result in the construction of new factories in any short span of time. The growth limiting factors are not the amount of industrially zoned space (indeed given the decline in American manufacturing over the last 30 or so years, we likely have far more land zoned that way than is currently used).
>> You may have a valid point about reducing the minimum wage.
LOL Joshua when it's numbers it's your language. XD
>> However, most of the rest of this is either impractical (just how do you intend to kick out all the illegal immigrants)
Same way all other police work is done.
>> or simply divorced from realcity. etc. etc. etc.
I was talking in hypotheticals. I am aware of the separation of powers and federalism. XD
>> Moreover, creating additional industrially zoned areas isn't going to add more jobs.
True. That per se won't reindustrialize the U.S. Again, I was talkin in hypotheticals.
I don't understand, if this is a hypothetical then what are the hypothetical conditions? You talk about creating more jobs than Obama, but your hypothetical isn't just putting yourself in the White House but also modifying many other aspects of our government.
Incidentally, at http://thoughtsofasj.blogspot.com/2010/05/england-free-speech-violation.html you said that this post was a followup that answered the questions in that thread. I'm not sure I see that at all. It seems to drop most of the discussions. How are they connected?
Meditate on it, or stick with math. XD
Post a Comment