Appearing on "The View" Tuesday morning, when asked his thoughts on a tax increase for everyone, Mayor Michael Bloomberg of New York said, "The lower class Americans won't mind paying an extra dollar, they would feel like they were contributing". Considering that if a person earns minimum wage, works full time, even though most can only find part time work and then have to pay living expenses, they would mind paying that extra dollar. Their net income per month would come out to approximately $936, and that's being generous with payroll deductions at 22%. The average monthly rental for a one bedroom apartment in Brooklyn is $800 per month, and transportation cost is approximately $90 per month on public transit, so that leaves $46 per month to use on food and utility costs, not taking into consideration, any debt they may have. So, yes Mr. Bloomberg they would mind. Most feel that they already pay too much in taxes. If you trailed their net income, and the sales tax spent on purchases, in addition to any other taxes they may encounter, most of their income does go to the U.S. Government anyway. Some may say, they might consider food stamps as an alternative, but the fact is if you apply, you might not be approved, because when they calculate expenses, more than likely the welfare department doesn't deduct your apartment rental from the figures. If theyare approved, chances are that is won't be enough for the month. All of this means, that extra dollar or so, may put these people even further into debt, causing even more stress in their lives. In recent months there have been more reports of entire families being killed by a parent, given no reason, one can only guess the reason is due to financial problems and the parent does not want to leave the burden on the remaining family members. So, when people say that a tax increase will not make a difference to minimum wage earners, they are absolutely wrong. Please consider the fact that families that earn less than $25,000 per year should be left out of any tax increases and any who earn $50,000 per year can certainly bear the burden for now, until a permanent solution is found within the government itself.
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