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The Fed should raise the minimum wage so that it reflects the "inflation" we have seen for the past number years since the last adjustment. Same adjustment in SS should be done to the minimum wage.
Certain forms of Inflation serve several important functions, one of which is to prevent the depletion of resources and the overuse of services.
Why would you want to encourage the rapid depletion of resources and the overuse of services?
A study of HUD Section 8 data illustrates a point you don't seem to understand.
Some single people qualify for HUD Section 8 housing even though they earn $23.60/hour ($49,150 annually) while other single people don't qualify for HUD Section 8 housing because at $7.70/hour ($16,001 annually) they earn too much money.
The reason why that is true, is because the Cost-of-Living varies tremendously throughout the US.
$23.60/hour - $7.70/hour = $15.90/hour
That's how great the difference really is.
As everyone can plainly see, a federal minimum wage is totally useless, since it could never address the great imbalance created by regional and local differences in Cost-of-Living.
yes, but then they can't write off all or most of their taxes or hide their money in offshore accounts or do their main business here and claim to be a citizen of a tax haven.
corporations are rewarding CEOs for aggressive tax avoidance—to the tune of at least $100 billion in lost tax revenues every year.
That’s why twenty of the twenty-five companies who paid their CEOs more than they paid in federal income taxes also spent more on lobbying lawmakers, and eighteen contributed more to the political campaigns of their preferred candidates than they paid to the IRS.
corporations are rewarding CEOs for aggressive tax avoidance—to the tune of at least $100 billion in lost tax revenues every year.
That’s why twenty of the twenty-five companies who paid their CEOs more than they paid in federal income taxes also spent more on lobbying lawmakers, and eighteen contributed more to the political campaigns of their preferred candidates than they paid to the IRS.
When a person is on public assistance, it is the equivalent of ~$40K a year. We need more incentive to work, and a mandated work requirement, to help bridge the gap.
Schools, parks, and government facilities could use the help. It would help provide skills to the people that need it to get a leg up.
corporations are rewarding CEOs for aggressive tax avoidance—to the tune of at least $100 billion in lost tax revenues every year.
That’s why twenty of the twenty-five companies who paid their CEOs more than they paid in federal income taxes also spent more on lobbying lawmakers, and eighteen contributed more to the political campaigns of their preferred candidates than they paid to the IRS.
When you file your taxes, do you pay the most that you can, or do you pay the least that you (legally) can?
The issue is not precisely income inequality it’s the cost of living. I understand that one drives the other but instead of forcing wage normalization(which IMO is a very bad idea) we should have a focus on programs to mitigate cost or provide cost efficient opportunities for lower income individuals.
Burger flippers could actually log onto their computers to purse a secondary education online instead of using it to look up celebrity social media accounts. The "gap closer" has been here fore decades now, it's called the internet. Whether you use it to take classes on computer science or play PC games all day, is your choice.
The neurosurgeon contributes more to the economy and society than the burger flipper and will be compensated appropriately. If you don't have the IQ to be anything beyond a burger flipper then that's your parent's fault, not societys
They found that for Americans born into middle-class families, a college degree does appear to be a wise investment. Those in this group who received one earned 162 percent more over their careers than those who didn’t.
But for those born into poverty, the results were far less impressive. College graduates born poor earned on average only slightly more than did high school graduates born middle class. And over time, even this small “degree bonus” ebbed away, at least for men: By middle age, male college graduates raised in poverty were earning less than nondegree holders born into the middle class. The scholars conclude, “Individuals from poorer backgrounds may be encountering a glass ceiling that even a bachelor’s degree does not break.”
The authors don’t speculate as to why this is the case, but it seems that students from poor backgrounds have less access to very high-income jobs in technology, finance and other fields. Class and race surely play a role.
They found that for Americans born into middle-class families, a college degree does appear to be a wise investment. Those in this group who received one earned 162 percent more over their careers than those who didn’t.
But for those born into poverty, the results were far less impressive. College graduates born poor earned on average only slightly more than did high school graduates born middle class. And over time, even this small “degree bonus” ebbed away, at least for men: By middle age, male college graduates raised in poverty were earning less than nondegree holders born into the middle class. The scholars conclude, “Individuals from poorer backgrounds may be encountering a glass ceiling that even a bachelor’s degree does not break.”
The authors don’t speculate as to why this is the case, but it seems that students from poor backgrounds have less access to very high-income jobs in technology, finance and other fields. Class and race surely play a role.
Good points. Since a degree is no guarantee of success, nobody should get a degree. Makes sense.
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