CONSIDER THIS ...
Minimum Wage Earnings in Compari-son to Poverty Line, 2008
$6.55 40 hours per week 52 weeks per year ¼ $13,624 per year
After Social Security taxes ¼ $12,582 annual full-time income
Poverty line for family of three in 2008 ¼ $17,600
The difference between full-time earn-ings at minimum wage and the poverty threshold for family of three ¼ –$5,018
Even at the 2009 rate of $7.25 for min-imum wage, after Social Security the full-time income would be $13,926, which does not even reach the 2008 poverty level for a family of two.
Source: Author calculations