Liberals want to raise the minimum wage from $5.15 to $6.75 (over 3 years). The 1st raise in a decade. This would effect roughly about 5.8% of the workforce. Mostly women. A raise would still keep most of them below the poverty level.
The conservatives want to make this law contingent on whether they can make the Estate Tax permanent. The Estate Tax will exempt $5 million of an individual's estate ($10 million per couple) from any taxes at all. This would effect about 7,500 of the wealthiest families in America. Roughly 6%.
Some theorize the minimum raise hike will hurt the economy. I think millionaires already have enough loopholes & tax shelters to prevent them from paying their fair share of taxes now. Many of them pay no taxes at all, or very little. It has passed in the House. It now goes to the Senate. What do you think and why?
2006-07-30 10:16:06 · 5 answers · asked by Nancy L 4 in Politics & Government ➔ Government
Collect more taxes from the richest people and pay to the poor people can help the Capitalist economy.
2006-07-30 10:35:45 · answer #1 · answered by JAMES 4 · 0⤊ 1⤋
What is wrong with doing something to help people on both ends of the spectrum? Minimum wage needed to increase, but also familes should have the ability to pass on some property to their children and the numbers used today havn't been touched for decades and inflation has been continous. The new bill does more to bring in line the amounts in the estate tax as a ration rather than aboilsh them outright as a hand out.
lets put it like this Paris Hilton will still pay a hefty estate tax when she inheirets her forture.
2006-07-31 11:29:09 · answer #2 · answered by Jacques C 2 · 0⤊ 0⤋
Show me a rich person who doesn't pay taxes....I want proof...it is the very poor who don't pay taxes....The estate tax can hurt those who run small businesses....while minimum wage really hurts these same people...why not take one burden away while giving them another. Plus, it is really only unions who benefit from a larger minimum wage, as their salaries are usually tied to this.
2006-07-30 17:35:30 · answer #3 · answered by jpxc99 3 · 0⤊ 0⤋
Lemme see, what is one of the policies promoted by the communist party of the former USSR and the Democratic Party of the US? Redistribution of Wealth. Good luck America.
2006-07-30 17:39:21 · answer #4 · answered by wyrdnews 2 · 0⤊ 0⤋
NO, but when is anything our government do for the working class fair?
2006-07-30 17:20:30 · answer #5 · answered by ? 5 · 0⤊ 0⤋