How much do you need to earn to cover your most basic needs or that of your family’s?
A new report released today by the Michigan League for Public Policy
offers the answer.
Making Ends Meet in Michigan: A Basic Needs Income Level for Family Well-Being compiles the costs of providing the basics – housing, food, transportation, personal items, health care and, if you have children, child care.
On average, it takes $10.37 an hour (or $21,570 annually) for a single person with no children, jumping to $21.23 an hour ($44,164 annually) for a single parent with two preschool children largely because of child care expenses.
“We’re not including any vacations or any luxuries at all in this report and no savings for retirement or emergencies either. These are the ‘bare bones’ costs that individuals and families face just to get by without turning to public assistance,’’ said League President & CEO Gilda Z. Jacobs.
(VOD editor’s note: the average City of Detroit General Retirement System pension is $19,000 a year. Orr wants to slash that, likely down to 60 percent and less, depending on whether the state comes through with its little pittance of funding.
This is while he further devastates the pension funds by privatizing most of the city and city workers’ jobs. He still wants to pay the criminal banks UBS AG, SBS Financial, and Bank of America up to 70 percent of the cost of the Pension Obligation Certificates loan, which still has up to $1.45 BILLION OUTSTANDING.
Bankruptcy Judge Steven Rhodes has set hearings for tomorrow, March 5 at 2:30 p.m. on vital issues connected to the city’s Plan of Adjustment (POA), including balloting procedures, deadlines for discovery and objections. His ultimate goal is to have the POA trial on June 16, 2016. He has retirees on the fast track to starvation. Click on DB POA dates and deadlines trial June 16. More to come on town hall meeting that took place March 2 and their plans for action.)