No. of Recommendations: 3
Or...We could raise minimum wage to 20 dollars an hour. Raise it to 8 dollars an hour first rattle out of the box, then 1 dollar an hour every quarter.

Or, we could leave it alone and instead increase the EITC by the same relative amount.

The later solution would less likely lead to job loss and it would much more accurately target the rich and wealthy via our existing progressive tax system.


Read over the articles. No data, just statements.

The idea of raising the minimum wage is NOT to help pimply faced kid or immigrants washing dishes. That is a side effect. The reason for the raise is to force increases in productivity through out the economic system, and get the government out of SNAP payments, and low income housing. These aids to the poor distort the economic system and cause inefficiencies. The earned income credit takes tax payer out of the system. A higher minimum wage puts them back in. It reduces government subsidies on many fronts and forces employees and employers to increase productivity through training.

The reason for the "Sir" tax is not to cap income, it will only do it for a while anyway as the wealthy work around it, it is to help align the high income earners goals with the lower income earners goals.

Cheers
Qazulight
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.