Inflation and Pay Raises:
According to our sources the Broward County Teachers will be receiving a 4% pay raise. Let’s break down the numbers. If the average teacher makes $55,000 annually that will be a $2,200 pay increase. Factor in a 20% tax consequence that will leave the teachers with $1,760. Divide $1,760 by 12 and that is a $146.67 monthly increase.
Now let’s factor in the current rate of inflation of 6.5%. That is an annual loss of $3,575 or $297.92 loss in monthly purchasing power. The teachers received $146.67 and are losing $297.92 with the inflation burden. That will leave the teachers with a loss of ($151.25) on a monthly basis. @2023. Written and edited by Bob Sutton and Celeste Ell#ich. For additional information: www.CalatravaStrategies.com or www.ChairmanBobSutton.com.
