More info please on the minimum wage bill just passed by the house of Reps?

Question

I understand it also repels the death tax & a few other things. What are the other things & any other details?

"Just the facts" please. Save the "all republicans are scum" attitude for later.

Answer 1

The House bill ties a gradual raise in minimum wage to other fiscal interests. Two major issues follow:

First, elimination of Inheritance Taxes for larger estates. Estates under $2 million are exempt now.

Pension Fund reporting requirements changes (linked to minimum wage increase) permits corporations more latitude (submitting different sets of books for example). Pension plans tied to corporations are now required to fully fund the pension program OR report in earnings statements to shareholders that they have not and why not. When such pension plans go broke because the corporations have failed the fund them, the federal government steps in (TAXPAYERS). It is thought that this is more businesss friendly but the details are not part of public debate so who knows.

Also it may shift the financial burden from busines to government, but in the long run that may not benefit business. Health care burdens growing heavier every year may become so overwhelming that individual businesses can remain compete in a world economy. Complex questions.

Answer 2

Bad news for all of you non-achievers stupid enough to try to raise a family on $5.15 an hour...there will be no increase in the minimum wage, at least for now. The Senate bill that would have raised the minimum wage $2.10 over three years failed by four votes. Oh well...such is life. The bill was tied to a cut in the estate tax, which is why so many Republicans were for it.

But the bill should have failed. Republicans who caved in on the minimum wage just to get the tax cuts through are guilty of lacking principles. This includes the president. They know that every time the minimum wage is raised, it kills jobs. They know that it is not the role of the federal government to set wages. But yet, in a foolish attempt to get what they want on one issue, they cash in their principles on another.

What's more .. they also know that there is absolutely no clause anywhere in the Constitution which gives the federal government the authority to step into the middle of wage negotiations between an employee and an employer. The federal government derives its powers from specific clauses in our Constitution. If the Constitution doesn't grant the power, the power doesn't exist.

Answer 3

The only gain in a minimum wage increase is the government gets more income. That's it. As soon as the wage increase goes into effect... the price of a loaf of bread goes to $3.00. The rest of the country takes a wage decrease because their dollars don't buy as much. The worst thing is what happens to the seniors who are on a fixed income. Those that used to get a dozen eggs for a dime now spend 20 times that. I wonder if everyone realizes that there are several people out there that have worked for a few years moving ahead slowly only to fine themselves back on the bottom. It sounds great to raise minimum wage, but I believe that most minimum wage jobs aren't something you want to retire from. Where does it end?

Answer 4

Maybe I heard a different news report than the rest of you but I heard the bill did not pass. It was short by 4 votes I believe. The Democrats did not want to pass the removal of the "death tax" with it. Interesting. I wonder if the poor people who the libs wanted so desperate to help are ok with the fact that they didn't get their raise because the libs didn't want to give the "rich" a break. I just bet it makes them feel peachy. Of course a minimum wage hike always ends up hurting the little guy after awhile. But it makes them feel good lol.

Answer 5

The bill died in the Senate. Do you really think that when the minimum wage was instated that the Congress said, "Hey, let's stick it to the employers, because these employees don't know how to negotiate wage increases on their own."?

Capitalism is "GREED" and if you repeal the minimum wage, a large number of Americans would either lose their jobs or have to work at three or four jobs to make ends meet.

The federal government had to do something or the economy is bust. (The idea that increasing a minimum that hasn't increased in decades will bump a loaf of bread to $3 is nonsense....we haven't ever seen that kind of consequence when the minimum wage has been increased in the past).

Answer 6

Jobs bill. What precisely is a "jobs bill"? What are the magic words which will fill 6,000 pages that gets somebody a activity? i might extremely not something greater passes ever returned. we've adequate law choking us to death. can we quite need greater? How approximately we supply up waiting for the candy from Uncle Sam and take administration of our very own lives?

Answer 7

Go to Yahoo home page and look up news 23 hours ago on amount of minimum wage that will go into effect in 2009. Or check your local news station and add .com and you'll find it quick.

Answer 8

minimum wage
keeps the wages at a minimum and the profits at a maximum

Answer 9

You will seldom get "the facts" from a conservative government. They'll just tell you what you want to hear and then move on to try to find other ways to screw the constituents.

Answer 10

All republicans are scum!

Sorry, I couldn't wait.

Darryl S.