Wyatt earp
Diamond Member
- Apr 21, 2012
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12.4 million Americans make $10.10 or less Minimum wage.
If the National Minimum wage is raised to $10.10 an hour...
Lets do the math:
3.6 million +12.4 million =
16 million Americans would be making Minimum wage
Is that progress?
Roughly 22% of the workforce how the heck is that doing anything to help the poor?
Lets have a raise of hands from the working poor on here did you get a raise the last time the Minimum wage was raised in 2005,2007 and 2009, if you were already making above minimum wage?
Why are liberals so fixtated on raising the Minimum wage when raising the Earned income tax credits would make more sense for working low wage workers?
Guess all they know is liberal talking points and don't have a clue about taxes (well I know they sure don't have a clue about cost of living judging by past posts)
Warren Buffett's Right But Not Correct; Raise the EITC, Not The Minimum Wage
Warren Buffett’s recently made the point that we want to raise the wages of low income working Americans then we should increase the Earned Income Tax Credit, not try to raise the minimum wage to $15 an hour.
The minimum wage has unemployment effects. Thus, raising that minimum wage may well raise the incomes of those workers who keep their jobs but it will also lower the incomes of those who lose theirs.
The EITC does not have such detrimental employment effects. Indeed, it works the other way around for it really is a subsidy to employers to employ low value labour. As such it increases the number in employment and as that’s what it’s designed to that’s fine. The problem with it is of course that we’ve got to put our hands in our pockets to pay for it. But then if it is our moral preference that low income workers get more money then there’s a reasonable moral case to be made that we should be paying for low income workers to be getting more money.
If the National Minimum wage is raised to $10.10 an hour...
Lets do the math:
3.6 million +12.4 million =
16 million Americans would be making Minimum wage
Is that progress?
Roughly 22% of the workforce how the heck is that doing anything to help the poor?
Lets have a raise of hands from the working poor on here did you get a raise the last time the Minimum wage was raised in 2005,2007 and 2009, if you were already making above minimum wage?
Why are liberals so fixtated on raising the Minimum wage when raising the Earned income tax credits would make more sense for working low wage workers?
Guess all they know is liberal talking points and don't have a clue about taxes (well I know they sure don't have a clue about cost of living judging by past posts)
Warren Buffett's Right But Not Correct; Raise the EITC, Not The Minimum Wage
Warren Buffett’s recently made the point that we want to raise the wages of low income working Americans then we should increase the Earned Income Tax Credit, not try to raise the minimum wage to $15 an hour.
The minimum wage has unemployment effects. Thus, raising that minimum wage may well raise the incomes of those workers who keep their jobs but it will also lower the incomes of those who lose theirs.
The EITC does not have such detrimental employment effects. Indeed, it works the other way around for it really is a subsidy to employers to employ low value labour. As such it increases the number in employment and as that’s what it’s designed to that’s fine. The problem with it is of course that we’ve got to put our hands in our pockets to pay for it. But then if it is our moral preference that low income workers get more money then there’s a reasonable moral case to be made that we should be paying for low income workers to be getting more money.
