So many dollars and no sense
- Thread starter bofa
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Jumpkix
New member
Was actually quite surprised that he's against raising minimum wage.
bofa
New member
and instead wants to increase EITC ... How can you justify increased government spending when we are already borrowing to fund ourselves today?
And these are people with negative ETRs essentially. This actually expands the scope from just entry level workers to those not working, by choice or not, and those with low income and lots of kids. They either aren't contributing at all or are contributing minimally and they are going to get a raise?
BrianSD_42
New member
Actually the EITC is one of the only economic policies with proven track record of incentivizing people out of poverty.
And by the way it was created by Ronald Regan.
Reagan.
jgue467
Senior Member
Maybe we should lower the min wage?
I remember my first job, 2.15/hr. Not sure how many nationwide min wage raises have come since then but i think i can count how many jobs i had that started at min wage.
Imagine a world where the min wage did not every change, i mean why should it? In this world everyone works hard to achieve and earn more, employers recognize those who contribute value and reward it and great industries reward to the extent they need to attract talent. In a world like this no one would ever ask for a raise either.
oh wait a minute, i must have been dreaming this sunday morning, this isn't our world but if it isn't then which world are we in and why? Ponder that.
I remember my first job, 2.15/hr. Not sure how many nationwide min wage raises have come since then but i think i can count how many jobs i had that started at min wage.
Imagine a world where the min wage did not every change, i mean why should it? In this world everyone works hard to achieve and earn more, employers recognize those who contribute value and reward it and great industries reward to the extent they need to attract talent. In a world like this no one would ever ask for a raise either.
oh wait a minute, i must have been dreaming this sunday morning, this isn't our world but if it isn't then which world are we in and why? Ponder that.
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bofa
New member
Let's talk about this because I think you combined the two effects of EITC.
It does incentivize certain middle income workers, though not necessarily out of poverty because they weren't in poverty in the first place. Also, I've never heard from someone that knowingly worked more for a proportionately higher EITC tax refund alone. Most people are unaware of how the calculation works, they just know the cutoff, and that's something I have heard directly from people that are limiting their annual income to ensure they get their bonus check from Uncle Sam, er you and me, every year.
While it does lift some people out of poverty, it doesn't do anything to incentivize getting out of poverty. It's essentially direct government intervention and that's how it lifts people out of poverty, which is a relatively low bar just under $12k and goes up about $4K for every family member. If you are earning this low of an income, that's roughly the equivalent of making federal minimum wage and working 30 hours a week. I don't know about you but I was working more than that and making more than that in high school... but I had work ethic and drive.
Not sure I follow your point or stance on the issue, but I'll add that I've worked hard for everything I have. I was raised by a single parent and didn't have much growing up, paid attention in public school while participating in extra-curriculars and working full time, put myself through college while working an entry level job and worked my way up the ladder, and have built a career and skills in a wide-ranging industry that should support me and my family for the rest of my life. It hasn't been easy and I've been through some tough times as an adult (and even more as a kid). I'm not alone and not special, but I see what's in front of me and I work for it. I don't wait around for others to help me limp along in life.
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jgue467
Senior Member
Saying the same thing
BOFA, just meant to convey the same thought. If we all pulled ourselves up from the bootstraps and I mean All, then in my imagined world we wouldn't need to 'force' employers to provide 'minimum' wages, we'd all work for what we want, work our way up or out into a better paying job. That's all i'm saying, is the fact we have to have minimum wages exposed us to the failings of our world. It starts with employers attempting to differentiate themselves with better service, better trained employees and better recognition of them. In general it all works itself out, just with a little more pain for some folks than it should be. :cheers:
BOFA, just meant to convey the same thought. If we all pulled ourselves up from the bootstraps and I mean All, then in my imagined world we wouldn't need to 'force' employers to provide 'minimum' wages, we'd all work for what we want, work our way up or out into a better paying job. That's all i'm saying, is the fact we have to have minimum wages exposed us to the failings of our world. It starts with employers attempting to differentiate themselves with better service, better trained employees and better recognition of them. In general it all works itself out, just with a little more pain for some folks than it should be. :cheers:
