Here in the DC area, we are about to engage in a new kind of experiment. The minimum wage in the Maryland suburbs is going up to $ 11.50 an hour. As it will be in the city of DC. But, in Northern Virginia, the minimum wage will be the Federally mandated one of $7.25. Do you really think the jobs will leave the northern suburbs and move to Virginia?
Continue reading Living Wages. The Very Bottom Line.
So, we’ve talked (this is the 3rd part in the daily series about current economics) about who is funding the US treasury. Mostly workers, which surprised most of you. Mostly the poor and the middle class, which clearly confounded you. (Remember- it’s payroll taxes that provide about 45% of the federal take, and the income taxes of the non-rich provide another 15% of the federal take. The rich (top 10%) provide 30% of the annual federal receipts via income taxes and corporations finish off the totals by contributing about 10%.)
Continue reading Living Wages- Take 3
Do I really care about the minimum wage per se? (I know, I’ve written about it before- as recently as 45 days ago or so: Wage Follies.) No, I worry about living wages and the middle class.
The US minimum wage is $ 7.25. There have been recent efforts to raise this to something more viable, but many (of a certain political ilk) aver that this would devastate business. But, let’s consider a few real facts. Continue reading Wage Follies