Quote:
Originally Posted by kaisen
Then Matt's idea of promoting spending via tax cuts is irrelevant to anyone earning minimum wage or anywhere close to it -- they don't pay tax anyway. Am I interpreting this right?
So even at $11/hr minimum wage we wouldn't be collecting more taxes, just cutting business profits so we'd collect LESS taxes at the same tax rates?
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Well, if you don't pay fed. income taxes, it's hard to give any kind of tax break other than a hike in the EITC, which is a euphemism for welfare. You don't get a refund at Nordstroms for clothes you didn't buy there. Though I know that's very hard for some folks to accept.
I'm sticking with an earlier claim in this thread that min. wage hikes are a backdoor way to more FICA $$, which is probably how the feds justify letting state min. wage prevail over federal if it's already higher.