Posted on 06/17/2004 5:49:55 AM PDT by wmichgrad
Nationwide the average wage in the US is $16.17 per hour. X 1.5= $24.25 X 2.5= $60.62 X 4.5 = $278.81
$500 minus $278= $222 error amount. Roughly, that is a 43% error.
Yes, I do work with numbers part of my day. The employee would love it but the paymaster would get hung from the flag pole by the boss.
(Me)
Out of thin air, I reckon...
you are using a national average and I said in both posts that I used the 27.50 number. try your math again, i'm off but who cares? the guy with 250 a month more is still happier than the guy crying about the bad deals life has given them.
Doesn't reflect an hourly wage.
However, if the weekly wage is $914.03 divided by 40.2, the hourly wage is 22.73 approximately. $22.73 times 1.5 (pay for overtime) is 34.10 times (hours increased 2.3) equals $78.43 (weekly increase) times 4.3 weeks (monthly) equals $337.24 gross.
Now you see why I hire people to do the payrolls and taxes.
To me the most important sentences are : Although total payroll jobs rose in May, marking the third consecutive monthly increase, the state has lost 30,000 payroll jobs, or 0.7 percent, since May 2003 and
The state has lost 18,000 manufacturing jobs during the past year, but most of those losses came in mid-2003.
So roughly, the state has lost 18,000 times $900 which equals $16,200,000 per week. 16.2 times 52 equals $604.02 million dollars since last year. Those are not what I would call good numbers.
The correction would come from regaining the 18,000 jobs if they were at a wage scale at least above $22 per hour. The state needs the 604 million bucks and where is it going to get if from? Out of your pocket is the answer.
Divide the 604 million by the number of homeowners in Michigan and you'll get a very rough approximate of the property tax increase expected.
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