The Worst Employee Should Be Paid ...
Reader comment on: Obama's 'Decent' Wages Escalate Prices
Submitted by Eugene Patrick Devany (United States), Aug 13, 2013 19:37
The U.S. has the highest rate of low wage workers (24.8%) and the poorer half of the country lost 70% of their net wealth between 1995 and 2010. While many workers need higher wages to escape the safety net tax subsidies, we do not need a nation wide increase in minimum wage. The minimum is that which is paid to a 16 year old kid who needs to be trained and may get a small raise when he or she succeds.
Many people confuse a minimum wage with a living wage for adults who want to marriy and raise children. The president seems to be doing this for political reasons.
In 2000 the U.S. charities had twice the net wealth of the poorer half of the population. Public charities now have eight times the wealth. Non-profit hospitals have not used their extraordinary growth in wealth to help the poor (and that is why we need the Affordable Care Act) and private universities still make their students go into major debt with more taxpayer support.
The charitable deduction encourages the loss of private sector investment. I suspect each of the wealthy travelers took a deduction for their "charitable" vacation in the same way their parents deduct contributions at a charitable cocktail party. The tax code also redistributes wealth to the top 10% who now have 75% of the wealth.
The poor and lower middle class in the U.S. lost 70% of their wealth since 1995 and now share only 1% of the nation's wealth. Millions are unemployed and need help. The taxes of the poor and middle class in the U.S. also subsidize the donations of the rich and this is wrong.
While the wealthy should be free to donate as they see fit the charitable deduction should be limited to those U.S. public charities that are willing to expand services and sponsor new full and part time jobs for those in need. Let the U.S. tax subsidy help U.S. charities expand services and put U.S. citizens to work instead of actually discouraging private sector job creation. As many as 2,000,000 jobs could be created with the $40 billion charitable deduction tax expenditure without any new taxes.
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