$2,400 per month for Social Security, retirement, disability, SSDI survivors, SSI and VA beneficiaries, some remarks out of the President yesterday that we certainly you need to talk about. I have all the details for you on this topic. I am your one and only daily advocate, as I’m here for you right by your side every single day, bringing all the latest updates as information is changing very rapidly right now. Because I want you to know everything that’s going on that’s going to impact us in some way, shape or form. And any time that some kind of announcement, benefits, programs, money or anything else that we can possibly take advantage of, I want to make sure that you know about it right away. And then I’m right here giving you the steps of exactly what to do to grab it as things are coming up every single day. So again, thank you so much for your support.
We’ve got a lot to talk about here. We’re going to be covering a number of different things, and I think you’re going to find this to be shockingly appalling. Yes, you heard that correctly. Shockingly appalling. All right. What do I mean by that? Let’s get into this and you’re going to find out exactly what I’m talking about right here in this topic. And I’ll give you a little teaser. Some of it is based on what was said yesterday by the President. Yeah, exactly. Again, I’m not here to take sides. I’m not here to say anything bad about anybody. But something was said yesterday that is completely rubbing me the wrong way. And it’s going to impact everybody right here, especially all the beneficiaries that I just mentioned at the beginning of the video. All right, so let me start off by saying this much again. Stick with me. We’re going to be going through a couple of different things here. Number one, tomorrow, this new minimum wage for federal contractors is going to be going into effect.
What do I mean by this? So tomorrow, a new $15 per hour minimum wage is going to be going into effect for federal contractors for about 700 people. Well, throughout the course of the entire year, this $15 per hour minimum wage is actually going to be expanding to about 300,000 additional people. So by the end of the year, there will be about 3700 federal contractors that will be earning a minimum of $15 per hour. Pretty cool, right? But what does this have to do with Social Security, SSDI, retirement survivors, SSI, and VA? I’m getting to that. Hang on just a second here. All right. So let’s keep cooking here. So that is going into effect starting tomorrow for these thousands or tens of thousands of people, 700 immediately, and then thousands more throughout the course of the year, which is actually great. But let’s talk about this a little bit further. And the announcement that was made by the President yesterday. So the President was out yesterday, of course, touting all of this $15 per hour minimum wage for the federal contractors. Again, I’m not saying anything bad about it. That’s great for federal contractors.
This is great. A $15 per hour minimum wage. There’s a lot of people out there right now that just could only wish that they could earn $15 per hour. There’s a lot of people saying that, right? That certainly would be nice for a lot of people. However, the President remarked yesterday that it’s not about the paycheck, but it’s about dignity, really. So it’s not about the paycheck, really. But it’s about having dignity. Ok, fine. Fair enough. We’ll take it at that then. It’s about getting dignity. Okay. I agree. It’s about the dignity. But then let’s talk about the Social Security, the retirement Beneficiaries, SSDI, SSI, and VA. Now let’s talk about this because we’re going to have some fun with this in not such a fun way, but more like an incredibly frustrating way. Alright, let me talk you through some numbers here. So I hope that you are hanging on here because we have some numbers to go through now. All right. Let’s quickly preface all this by saying if you are earning $15 per hour and you’re working 40 hours per week, in other words, 160 hours per month, which is 40 hours per week, times four weeks in the month, turns out to 160 hours for the entire week.
Right. So 15 hours multiplied by 160 hours comes out to $2,400. Okay. Not that right. I think a lot of us here could be pretty happy living on $2,400 every single month. That wouldn’t be too bad, right? So that’d be $600 a week and $2,400 per month. Okay, great. But how does all of this calculate out? Now, let’s look at some other numbers that are real numbers for a lot of people out there. In fact, let’s just use the averages just to make it simple. And then we’ll come back and we’ll break it down into benefits that people are actually receiving. Check this out. Remember what the President said, by the way, it’s all about the dignity. It’s not about the paycheck. All right, here, how about this for dignity? Tell me this much. According to the numbers, the average Social Security retiree is receiving $1,657 per month. Now, again, I know that the vast majority of you here in the community are not receiving that much. But again, these are the numbers that are being displayed. The average Social Security retiree is getting $1,657 per month. So let’s just use that number as a quick example.
Now, let’s take that 1657 divided by 160. Why 160? Because that is the number of hours in the month. Remember, working 40 hours per week and four weeks in the month is 160 hours. So 1657 divided by 160 comes up to $10.35 per hour. Yeah. How’s that for dignity? All right, let’s go through some other numbers here. Let’s say that you are the average Social Security disability beneficiary, SSDI beneficiary. And again, the numbers are showing us this year the average SSDI beneficiary is getting $1,358 per month right here, right now. Again, I know that the vast majority of you in this community are not receiving that high of a benefit, but according to the averages and according to the numbers, that’s what they’re telling us is 1358 per month. All right, so let’s take $1,358 per month divided by, again, 160, representing the number of hours that somebody would need to work throughout the course of the entire month. Right. So 1358 divided by 160 comes up to $8.48 per hour. Again, how about that for dignity? Unbelievable. Right. All right, let’s look at another number. I know that a lot of you here in the community are receiving SSI, Supplemental Security income.
And if for a lot of you in this community, that is your only income right now, while the maximum benefit right here in 2022 for an SSI beneficiary is $841, again, that’s the maximum benefit that somebody can receive right now on SSI. So let’s take that number, 841 divided by 160, which represents the number of hours in a month. Once again, 40 hours a week, times four weeks in the month comes out to a whopping five-point $25 per hour. And remember, all of this is pre-tax. So in the event that somebody wanted to earn what they were receiving from their SSI, 841 a month, they would be getting a job at five-point $25 per hour. If somebody wanted to go out and work and earn 1358 against the average SSDI benefit right now in 2022, they would have to work 40 hours a week, four weeks a month, 160 hours for the entire month at eight point $48 an hour to get that same benefit. Right. So my point is, remember the remarks that I told you a second ago, the President said, it’s not about the paycheck, it’s about the dignity.
Really. If it’s about the dignity, then what about the dignity for, I don’t know, all the millions of seniors, the elderly, people with disabilities receiving these teeny tiny benefits, living on essentially a $10.35 per hour, $8, and 48 cent per hour or a five-point 25% our wage. And again, this is pre-tax, by the way. Remember? So let’s just say if we were to apply federal taxes, state taxes, Social Security tax, Medicare tax on all that. There’d be nothing left. You know what I mean? Obviously, there’d be a little bit left because taxes are a percentage. But my point is there wouldn’t be much left. And again, these are the numbers. So I don’t know, when I heard this statement out of the President saying it’s not about the paycheck, it’s about the dignity, I feel like, seriously, do you realize just how many people you insulted by that statement right there? It’s about the dignity. If that’s the case, then all of these beneficiaries should be getting $2,400 every single month. Because apparently, that’s the dignity line now, right? So we’ve just drawn a line in the sand called the dignity line. And it’s at $2,400 a month of income.
Apparently that’s what it is because $15 per hour multiplied by 40 hours a week, multiplied by four weeks a month is $2,400.
Anyway, do I make a pretty good case here? I think I make a pretty solid case. Again, if we’re talking about dignity, dignity, let’s throw down seriously, let’s do this because here’s what we’ve got for dignity. And in my opinion, these people living in a teeny tiny benefit, $841 a month on SSI, sub $1,000 a month on SSDI or retirement benefits. This is not dignity. So I don’t know. Just something for you to think about. Anyway, I came across this. This is honestly, it’s rubbing me the wrong way. It’s been bothering me all day and night, and I feel like we got to throw down on this and this is what we’re coming up with. So anyway, I don’t know. I feel like it’s time to write a letter. What do you think? Seriously, let me know your comments down below. Like I said at the beginning of the video, I said that this would leave you shockingly appalled. Are you shockingly appalled now? Because I am. And I think I’m probably not the only one here. But again, man, I could go on and on and ranting about this interesting stuff going on there right now.
Yeah. So I guess if we want to have a little discussion about dignity, let’s do this right. Let me know if you think I should write another letter, because I think it’s time to pull up my little computer, which is actually not so little. It’s actually a huge desktop and it’s really old. But my point is, I think it’s time to whip out the documents here and probably draft another letter or two. What do you say? Let me know your thoughts down below. I’d love to hear from you on all this. When I calculated the numbers. I thought, this is sad. There’s no other way to put it. It’s sad, seriously, that people are living this way and that people are forced to live this way. And here we are talking about dignity at $15 an hour, again, for all the federal contractors getting this. Congratulations. I mean, by all means, grab it. If that’s what’s there for you. That’s great. But at the same time, let’s have a real conversation about dignity. Yeah. All right. Anyway, I got to get off this thing. Otherwise I’m just going to keep rambling here and ranting way too much.
All right. Enjoy your day. I’ll catch you later.
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