Tuesday, December 5, 2006

Is Earned Income Tax Credit Better Than an Increase Minimum Wage? Discuss


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Is an Earned Income Tax Credit Better Than an Increase In the Minimum Wage?Discuss


the Week


December 8, 2006


Business Best Column


Issue of the week:


"The Ecomonics of the Minimum Wage"


Summary:


This article points out that many people believe that raising the minimum wage will not get people fired.


Oh no.


The Chicago Tribune says however that this tax credit would give more money to help the working poor without causing future layoffs .


What do you think?


Please let us know!


TY

5 comments:

readmereadyou said...

I think the rich get richer and either way, it isn't enough for the poorer class.

bobandkate said...

Too little too late for the poor if you ask me! Raising the minimum wage here in the UK always pushes up salaries throughout the hierarchy of pay scales. Better tax breaks, like little or no income tax for the poorer members of society, are what is needed and this should be in conjunction with higher taxes for the really well off, who just keep getting richer!
Kate.
http://journals.aol.co.uk/bobandkate/AnAnalysisofLife/

lifesabench6 said...

If we have to have anything- it's got to be the earned income tax credit.  I really think thta raising the minimum wage wouldn't help anyone, all it would do is make everything go up in price.  I know there's propbably quite a few older folks working at minimum wage jobs- been there myself.  It's hard to pay adult bills on teenager wages, but  a dollar an hour raise- even two dollars wouldn't get a person out of that cycle.  Only working upwards or changing jobs, going to school or starting your own business will get people out of the low income bracket.  When I moved from Canada- the minimum wage up there was at 7 bucks an hour, I know it's way more than that now, and everything is expensive, and taxes are outrageous.  Wage increase wouldn't help anyone.  Thanks Natalie!  Carolyn

bhbner2him said...

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