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802

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[–] 2 pts (edited )

President Joe Biden recently signed into law an “infrastructure” bill that will cost about $1.2 trillion. That means that each family will pay, on average, $12,000. A person working full time for a year (about 1,800 hours) at the federal minimum wage ($7.25 per hour) makes about $13,050. So good news! You get to keep $1,050 of that for food, rent, energy, and other “luxuries.”

This would be true in a system with a flat tax. Since we don't have a flat tax, this isn't how it works. A person with a family working 1800 hours a year at the Federal minimum wage will pay nothing in Federal income taxes. All they will pay is $848 in Social Security and $196 in Medicare taxes.

If you want to calculate the average impact on the average American family you have to take the total per-capita income, multiply it by the 3.3 people used for a family in this article, and then calculate the tax share from there.

In 2019 the per-capita income of the United States was $66,060. Multiplied by 3.3 we get $217,998. All the spending in the article adds up to $8.2 trillion, or $82,000 each family of the 100 million families. That works out to 37.6% taxation. That leaves the "average" family with $136,000.

Don't get me wrong, that kind of taxation is all kinds of legalized thuggery and robbery, but don't try and sell opposition to us based on the idea that it will bankrupt minimum wage workers. Tell it like it is.