April 15th isn't exactly Tax Day this year. I'm unsure why, but the feds pushed back the filing deadline to the 18th. When the 15th falls on a holiday or weekend, they do that, but this time, it was a Friday. Oh, well. If they're not in a hurry, neither am I.
In honor of Tax Day, I want to connect some current news stories. The Democrat Presidential candidates are jockeying for position on the minimum wage while they also talk about making "the rich" pay "their fair share" in taxes.
To start with, under present conditions, nearly half of Americans aren't paying any federal income tax while the top 1% pay nearly half of them. So, I'm not exactly sure just how much more "the rich" need to pay to satisfy the "fair share" that's expected of them.
Meanwhile, in several localities around the country, the march towards a higher minimum wage is pushing forward. Rather than expose the fatal flaws of any minimum wage, I want to pose a question. If they really believe there should be a minimum wage, and if they really believe in equality, why aren't they also pushing for a "maximum" wage?
Think about it; employers have budgets, budgets include wages as a fixed expenditure. If the lowest paid employees are going to make more, one way to balance the books is to pay the highest paid employees less. Well, if you're trying to be "fair" in a situation like that, just cut to the chase and pay everyone the exact same thing.
Nationwide, the median income is just over $50,000. For a 40 hour week, that works out to around $25/hr. Why not establish a fixed wage, every position with every employer pays the same, including in the Senate and the White House?
Well said. There are many flaws with the idea of a minimum wage. This accurately and simply magnifies them.
ReplyDeleteWell said. There are many flaws with the idea of a minimum wage. This accurately and simply magnifies them.
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