There’s a movement afoot by the Democrats to get the minimum wage raised again. Despite historical financial evidence to the contrary, raising the minimum wage does not help those at the low end of the wage spectrum, as our nation’s leftists would like us to think. Raising the minimum wage means businesses are less likely to hire more workers, due to their increased costs with the raise in the minimum wage.
Contrast this with the fact that, according to today’s Political Diary, Germany is set to cut its corporate tax rate to thirty percent, down from thirty-nine percent. Once it does so, the United States will have the highest corporate tax rate of the industrialized world.
How does this affect the minimum wage? I’m glad you asked. It seems high corporate tax rates, according to a “new study by American Enterprise Institute scholars Kevin Hassett and Aparna Mathur…is for the most part paid by workers in the form of lower wages.”
Ergo: cut the corporate tax rate, workers’ wages will rise.
You can not get even odds in Vegas that the Democrats would sign on to such a policy.
Tag: finances
Liechtenstein is 200. The total population of the nation is a little over half of that of my town.
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In the market for a new mortgage? Be sure to check out the Mortgage Professor, who has a list of “Upfront Mortgage Brokers”. These brokers promise the transparency of disclosing “the loan’s wholesale price (the interest rate and points), plus the markup, in writing and in advance.”
[Via Newsweek, June 26, 2006.]
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A thought on why Honda rocks:
Last week, during swim lessons, I had a moron moment and forgot to take my Pilot’s key and fob out of my swimsuit pocket. An hour later, after drying off the tyke (the lessons were for him, in case you were wondering), I went to change in to some dry clothes and had one of those Seinfeldian “Oooohhhhhh” moments.
Just out of curiosity, I hit the lock button on the fob. Twice. I heard the Pilot’s horn blast a single note.
And I smiled.
It’s still working, with apparently no ill effects. So is the little keychain LED light my sister-in-law got as a stocking stuffer for me two Christmases ago.