Economics 101 (too advanced for our Congress?)
Financial planning 101 for our elected officials - This course should be compulsory!!!
You have 2 families... "Joe Legal" and "Jose Illegal".
Both families have 2 parents, 2 children and live in California .
"Joe Legal" works in construction, has a Social Security Number, and makes
$25.00 per hour with payroll taxes deducted.
"Jose Illegal" also works in construction, has NO Social Security Number,
and gets paid $15.00 cash "under the table".
Joe Legal.. $25.00 per hour x 40 hours = $1000.00 per week = $52,000 per year.
Now take 30% away for state and federal tax. Joe Legal now has $31,231.00.
Jose Illegal... $15.00 per hour x 40 hours = $600.00 per week = $31,200.00 per year.
Jose Illegal pays no taxes. Jose Illegal now has $31,200.00..
Joe Legal pays for Medical and Dental Insurance with limited coverage ..
$1000.00 per month = $12,000.00 per year. Joe Legal now has $19,231.00.
Jose Illegal has full Medical and Dental coverage through the state and
local clinics at a cost of $0.00 per year. Jose Illegal still has $31,200.00.
Joe Legal makes too much money to be eligible for Food Stamps or Welfare so
Joe Legal pays for food... $1,000.00 per month = $12,000.00 per year.
Joe Legal now has $7,231.00.
Jose Illegal has no documented income and is eligible for Food Stamps and Welfare.
Jose Illegal still has $31,200.00.
Joe Legal pays rent of $1,000.00 per month = $12,000.00 per year.
Joe Legal is now in the hole -<$4,769.00>.
Jose Illegal receives a $500 per month Federal rent subsidy, which entirely
pays his rent of $500.00 per month = $6,000.00 per year. Jose Illegal still
Joe Legal now works overtime on Saturdays and gets a part time job after
work to make ends meet.
Jose Illegal has nights and weekends off to enjoy with his family..
Joe Legal's and Jose Illegal's children both attend the same school.
Joe Legal pays for his children's lunches while Jose Illegal's children get
free government-sponsored lunches.
Joe Legal's children go home after school. Jose Illegal's children have an
after school ESL program which, again, is provided free of charge.
Joe Legal and Jose Illegal both enjoy the same Police and Fire Services, but
Joe Legal paid for them and Jose Illegal did not pay.
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