Not to worry if you are making/earning minimum wage here in America! You only have to work 58 Million WEEKS to pay off the $770 Million dollars in Corporate Welfare being given to Wall Street's robber barons, regardless of what Ali Belshi has to say on the matter.
Sunday, September 28, 2008
Putting Bailout In Perspective For Minimum Wage Workers
Our Federal Government is about to give Wall Street $770 Billion dollars! Meanwhile, back in July the minimum wage LEPT to $6,55 per hour. Working a 40 hour work week, that is a pre-tax weekly wage of $262.00 or a yearly pre tax income of $13,624 IF YOU WORK 52 WEEKS A YEAR. It would take roughly 58 million 40 hour weeks of work at minimum wage to pay off this debt (with no interest).http://www.dol.gov/opa/media/press/esa/esa20081024.htm
Federal minimum wage to increase to $6.55 on July 24
Agency also marks 70th anniversary of Fair Labor Standards Act
WASHINGTON — The U.S. Department of Labor reminds employers and employees that the federal minimum wage will increase to $6.55 on Thursday, July 24. With this change, employees who are covered by the federal Fair Labor Standards Act (FLSA) will be entitled to pay at no less than $6.55 per hour.
This increase is the second of three provided by the enactment of the Fair Minimum Wage Act of 2007. A third minimum wage increase to $7.25 an hour will become effective on July 24, 2009. Last year, on July 24, the minimum wage increased to $5.85 an hour.
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