Tuesday, August 30, 2016
If You Accept this Raise, You Fall Off the Welfare Cliff
https://fee.org/articles/if-you-accept-this-raise-you-fall-off-the-welfare-cliff/
At your present $12 an hour you are eligible for refundable tax credits, food assistance, housing assistance, child care assistance, and medical assistance worth $41,465 combined. Together with your earned income after taxes of $22,121, you are now bringing home to your kids about $63,586 a year.
If you take your employer’s offer, you’ll earn $5,451 more after taxes, $27,572. You will also become eligible for an Affordable Care Act (ACA) premium tax credit. But at that level of earned income all your other benefits would decrease by $8,336, more than your increase in net pay. That means the income you would bring home would decrease from $63,586 to $60,701.
Now you see the inner workings on how the Government traps people into the system ...
Eliminate government welfare replacing it with private charity - AS IT WAS FOR MOST OF THIS COUNTRY'S EXISTENCE.
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