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MINIMUM WAGE History of the Minimum Wage ? 1938 - The minimum wage was first enacted into law as part of the Fair Labor Standards Act (FLSA) of 1938. The original
Minimum Wage Impact Introduction Supporters of increasing the federal minimum wage contended it would offer significant changes to the lives of millions of working-class
Minimum Wage debate Pro: The minimum wage across Canada should be increased to at least $10.00 an hour. This would allow some of the working poor to live above the
Minimum Wage Increase has a Maximum Impact It sounds like good news for the low-income workers and their families whenever the government increases the minimum wage.
minimum wage By Brandon kingsley Should Minimum wage be increased? Introduction For many decades now, there has been heated debates concerning minimum wages and
Submitted by devilman_1000 on March 22, 2007
Category: Business
Words: 684 | Pages: 3
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The House of Representatives recently voted to increase the minimum wage, but the measure is being held hostage in the Senate by demands for tax relief for small businesses supposedly burdened by the wage increase. That may sound fair to some, but a closer review shows the tax provisions are clearly more inspired by politics than credible equity considerations or sound economic reasoning.
Yes, a minimum wage hike will have effects. An increase to $7.25 an hour could directly benefit nearly 6 million workers, lifting the incomes of many families currently under the poverty line or not far above it. But critics also claim the boost, estimated to cost employers about $13 billion annually, would result in higher prices and fewer jobs. That's far from certain, and raises an important question: Who would be harmed, and, if they are, should they receive compensation?
Certainly, some companies will be forced to raise wages. But there is no precise way for government to predict which ones will be affected or by how much. Nonetheless, the Senate bill provides liberalized depreciation rules, kinder tax treatment of "S corporations" (which reap many benefits of incorporation without being liable for the corporate income tax), and an expansion of the Work Opportunity Tax Credit as compensation for paying low-wage workers more.
But the proposed breaks pertaining to depreciation and S corps could just as easily benefit owners not affected by the wage increase, those helped by it (say, high-paying restaurant owners whose lower-paying competitors would be forced to raise salaries), or even people who don't currently own a small business but invest in one in the future. In fact, the tax cuts could benefit a business with no minimum-wage employees—or one with no employees at all—because they're unrelated to labor costs, past, present or future.
The more generous treatment of depreciation allows a business to get larger...
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