The news services are reporting that President Bush has come out in favor of a rise in the minimum wage as long is it is coupled with tax cuts and regulatory relief.
I’ve commented on the subject before here. I believe that whenever the government raises the minimum wage above a level dictated already by local markets, small business and people entering the job markets are going to be hurt. If businesses are already tempted to replace workers with outsourcing or automation, mandated increases make the decision easier to be sure.
To say “we’re going to raise the minimum wage but also boost tax relief” is not really saying much.
You see, paying the minimum wage is enforced. Employers are required to inform workers about things like minimum wage, etc. But when was the last time the government FORCED the disclosure of all pertinent tax breaks or regulatory short cuts a business or individual is entitled to? Put another way, when was the last time the government told you how to use legitimate tax breaks and avoid paperwork? Probably never. So what will make this different?
Most home business folks probably won’t be affected… or will be affected minimally.
Home Business » Bush Supports Rise In Minimum Wage + Tax Help on December 23rd, 2006 at 1:51 am
[…] The news services are reporting that President Bush has come out in favor of a rise in the minimum wage as long is it is coupled with tax cuts and regulatory relief. I’ve commented on the subject before here. I believe that whenever the government raises the minimum wage above a level dictated already by local […]Read full entry […]
Stephanie on December 23rd, 2006 at 9:29 pm
I’ve always had mixed feelings about the minimum wage. I know it’s hard on people who aren’t earning enough to get by because that’s all they earn, but increasing it just increases prices as it costs more to produce and sell things. Not very helpful.