Posted by
Travis on Saturday, February 10, 2007 1:44:21 PM
The House is considering a $1.3 billion tax relief package in an attempt to reconcile the new minimum wage bill with the Senate. Great. Beside the fact that our government has no business setting ANY wage controls, let us look a little deeper into this bill.
The House figure of $1.3 billion is calculated over 10 years, the real number is closer to $4.5 billion over 5 years.
Most of the tax breaks in this bill are short term, and we all have seen how hard it is to get Congress to extend tax breaks that are about to expire. They begin to ask THE question; "How will we pay for these tax cuts". IDEA...spend less.
Our Senators and Congressmen need to wake up and start doing their jobs. Wage control is not a function of the Federal Government, it is better left to the free market. Tax policy should be one of their priorities, it is a legitimate part of their job. By increasing the minimum wage and offering tax breaks the government is going to slow the growth of our economy, hurt minimum wage / low wage earners by causing increased inflation and less job opportunity.
We the people should be contacting our Senators and Congressmen telling them to pass H.R. 25, The Fair Tax Act . The passage of this bill would do more to help low income earners than any other piece of legislation in front of them. The economy would grow, new jobs would flood to the U.S., tax revenue to the government would increase due to economic expansion, and the American people would be taxed only on what they chose to spend.
Visit Fairtax.org to learn more and get involved.