McDonald's worker's full-time paycheck revealed and it's just too hard for people to believe
It is hard to get by with the current economy despite having a full-time job. The minimum wages in different countries are not up to the mark and barely suffice for a single individual let alone a household. Part-time and many service sector jobs have wages that make it impossible to get by. A man named Josh shared a video explaining the paycheck of an employee at McDonald’s and it is as shocking as it is sad. The video was posted on his channel, "Just Frugal Me" which covers all things finance.
Before Josh could reveal the image of the worker’s paycheck, he mentioned in advance that he didn’t intend to insult or demean the worker or the workplace. He was just bringing to light the need to pay people wages based on today’s economic standards. Moving to the bill, Josh shared that the employee had put in 72 hours of work per week as per the information on the paycheck. For this lengthy period, he was paid $8.75 per hour. Doing the math, the worker was getting paid $631.31. Josh noted that this amount seemed fairly okay and was above minimum wage. He also shared a picture of the minimum wages of different states for reference.
The man explained that based on the information given, the employee was working for 12 hours a day and earning around $2,524 per month. However, the worrisome part was taxes. Josh shared another reference sheet with which he pointed out that the employee’s income fell under a tax rate of $303. After paying taxes, the employee is left with $2222 for the entire month. While this may seem plausible, Josh had all the statistics shared in the video, with referential numbers and ranges to help understand the problem at hand.
He began dissecting the monthly expenses a person is expected to have, including rent, utilities and several others. Josh then added other requirements that result in hefty expenses like car and mobile phone bills and so on. It was baffling to see how the $2k in hand rapidly decreased with these necessary expenses. Taking $900 for rent, $172 for utilities, $397 for the car, $100 for car insurance, $70 for a mobile plan and $102 for health, the employee had only a shocking amount of $481 in hand. The man pointed out that the $481 was to be spent by the employee for several other everyday expenses like gas, food and so on. These further deductions were as important but the small amount doesn’t sufficiently cover them.
What the employee is left with is financial burnout and almost nothing to put into savings or investment or personal or charitable use. Another eye-opening point was highlighted by Josh. He said, “This is an employee making more than the minimum wage per month. If the employee was making a minimum wage of $7.25 per hour, they’d be left with a negative number.” People have long been protesting the need to increase the minimum wage but this breakdown of numbers adds to the cry for help. @mlozano9970 wrote, “Don't forget to add all the government assistance and tax breaks too.” @SharkBoy87 added, “Minimum wage is just a law. You don’t have to take the job. You can tell them to pay you $20. It is not how hard you work, but how hard it is to replace you.”