The Minimum Wage, the Democrats, and Taxes

The minimum wage standoff came to an end a few days ago when the Republicans and the Democrats compromised on a bill that would include tax breaks to small business, but balance them out with closing loopholes and reducing exemptions on big business. In other words, the Democrats got the Republicans to agree to both increasing the minimum wage and making the tax system more progressive.

By and large, this is a good thing. The minimum wage is of greatest annoyance to small businesses, which often pay close to minimum wage and have low profit margins. Big business won’t even notice the change. Yahoo News explains the idea,

The rift stems from the new Democratic Congress’ approach to tax relief, which requires that every tax dollar lost to a new tax break be offset by a tax increase or closed loophole elsewhere. It also signals the new Democratic majority’s willingness to pay heed to the small business community even as it irritates larger corporate interests.

Better yet, the Democrats have successfully used the threat of stripping the bill of its tax breaks, which are absent from the House version, to make the Republicans stop complaining that the tax breaks are temporary while the loophole closures are permanent. The three-day-old Yahoo piece quotes business lobbyists as complaining about the compromise; the newer CNN piece quotes the Republicans as begging Democrats to stick to it.

2 Responses to The Minimum Wage, the Democrats, and Taxes

  1. It’s also important to consider into consideration whether or not to create use of
    wifi along with ” cable ” surveillance camera methods.
    This requires the use of a Virtual Private Network (VPN) to allow for connectivity with security.
    com, there’s an option in “Settings” under “Account security” for
    the second check to demand a verification code to create sure
    it is you.

    For real-time monitoring the DCS-910 is an excellent choice to the price, it’s only
    once the camera is needed for automatic operations where the
    cheap price points to a lack of quality. Because, they weren’t wifi individuals would realize at the
    beginning of advance these folks were there and would commit
    their criminal offenses where they realized the cameras weren’t around.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: