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Point well taken, but I'm sticking to my observation that waitresses do not have the exopendible income for retirement planning. At $7 per hour, which is roughly minimum wage, monthly earnings average $1143.1 per month. I stand corrected, definitely, on the tax rate thing. When "payroll" taxes are added, 30% - 35% is achieved. So, after a 35% reduction you're at about $800. Even in the least expensive part of the nation, this is not a living wage. Sure, waitresses get tipped, but tips are actually property of the restaurant. At least in Washington.
Washington is a "tip credit" state. meaning that the state requires restaurants to pay an actual wage, not less than minimum wage, separate from tips. Other states give employers credit for tips, so as long as tips are greater than minimum wage, they pay no wages.
And many waitresses are mothers. Two jobs is necessary to make ends meet. This way the children get the stuff they need. Clothes. Food. School supplies. Maybe an inexpensive country rec program like swimming or dancing. Just not Mom. She's at work, or beat tired.
And yeah, we can certainly applaud Mr. Bush's lowering of taxes for non-wage (investment) income. This way, Mom can shoulder more of the tax burden. That'll happen in a number of ways particularly now that a nitrous system AND a turbocharger have been put on the governments' spending, particularly awards of contracts to defense contractors.
So you see, if you're not a wage earner at all, but make your money solely on investments, you're really liking our "president."
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Man of Carbon Fiber (stronger than steel)
Mocha 1978 911SC. "Coco"
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