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In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sun Feb 11th, 2007 at 05:23:30 PM EST
Awesome diary. I can not comment because I do nto know that much but I do appreaciate the effort.

But what about the 1500 euros as minimum wage? from Spain looks like thinking very big.. it is the equivalent of a middle-class for everyone motto.. is it possible? feasable, workable?

I am sure you will cover this topic in the future.

a pleasure

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Mon Feb 12th, 2007 at 01:24:57 PM EST
[ Parent ]
French minimum wage "SMIC" for full time (151.67 hours worked per month) is 1254.28 euros gross, net is 984.61. At this level you'll getting negative income tax of about 59 euros per month, so you're slightly above 1000 euros per month. You have additional money from state for birth, two children or more, housing, etc...
by Laurent GUERBY on Mon Feb 12th, 2007 at 02:29:14 PM EST
[ Parent ]
The Spanish minimum wage for 2006 was €541 per month (source).

"It's the statue, man, The Statue."
by Migeru (migeru at eurotrib dot com) on Mon Feb 12th, 2007 at 02:34:17 PM EST
[ Parent ]
Is there anything other than income tax between groos and net, and why would you have to get negative income tax?

"It's the statue, man, The Statue."
by Migeru (migeru at eurotrib dot com) on Mon Feb 12th, 2007 at 02:36:30 PM EST
[ Parent ]
Difference between gross and net are mandatory social taxes (retirement, health, unemployment ...). More social taxes are paid by your employer but that's not counter in what we call gross.

To get negative income tax you just have to work and be paid under 1.4 times the minimum wages, its amount is maximum at exactly the minimum wage.

If you look at the spreadsheets on my blog spot on taxes, you'll see that low incomes ranges "pay" a negative income tax.

BTW it's called "prime pour l'emploi" in France if you want to google.

by Laurent GUERBY on Tue Feb 13th, 2007 at 02:56:39 AM EST
[ Parent ]


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