A Quote by William J. Clinton
I believe that people of my income group should pay more, and I explained why, but that won't necessarily lift overall wage levels.
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You can pay certain people more money and stuff but that's just going to be a transfer from one group to another. The only way people's wages are going to rise overall, or average median income is going to rise, is if you increase productivity.
Many argue that graduates earn a 'premium' because of their education, and should have to pay their way. I agree, and that's why I've always advocated a progressive taxation system - so if people do receive large salaries, they pay more income tax.
I pay a living wage, I believe in healthcare, I declare all my income, and I don't cut corners.
When people ask, "Why should the rich pay a larger percent of their income than middle-income people?" - my answer is not an answer most people get: It's because their power developed from laws that enriched them.
Especially for the young and the lowest-skilled, minimum wage becomes a toll that prevents many from entering the work force and gaining the skills that can make a low income or middle class worker a high income worker. This is so obvious that one wonders why liberals keep championing the minimum wage cause.
If I'm owed money, but I say, 'Don't pay me, pay my cousin. Don't pay me, pay my charity,' you can do that, but then the IRS requires that you pay income tax on that. It's your income if you earned it and you directed where it went. If you exercised control over where the money went, you have to pay income tax on that.
Where taxes are concerned, there are two clear-cut points of view. There are those who think they're too high and those who think they should be even higher because, after all, politicians spend our money far more wisely than we do. The obvious solution I'd propose is that the people in the first group would pay less and those in the second group would pay more. Lots more.
Nobody should be allowed to fund political parties unless they pay at least 30% tax on all income above the median wage. If that rule applied, the Tory party would be bankrupted overnight.
Paying people a fair wage is a sign of respect and acknowledgement of the value of people's contributions to the business. When people are treated fairly and with respect, they will provide unparalleled levels of support and commitment inside the business, and to clients and customers. Everyone is more successful when people are paid a living wage.
If your employer pays your health insurance, that's not counted as income to you. And any economist would say that's your income, because they'd pay a higher wage if they didn't take it. That's a huge loss to the Treasury.
People like me, whose income largely comes from dividends, should pay more taxes.
Middle-income wage earners have essentially had no pay increases since 2000.
If it is true, for instance, that depression is constituted by low serotonin levels, what still needs to be explained is why particular individuals have low levels of serotonin. This requires a social and political explanation.
If I thought that raising the minimum wage was the best way to help people increase their pay, I would be all for it, but it isn't. If you raise the minimum wage, you're going to make people more expensive than a machine. And that means all this automation that's replacing jobs and people is only going to be accelerated.
There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they've run up - to pay their mortgage debt, to pay the credit card debt, to pay student loans.
By the standards of honest, if unorthodox, accounting, government workers don't pay taxes, but are paid out of taxes. In other words, they pay taxes out of money confiscated from taxpayers, who, in turn, pay taxes twice: on their own income and on the income of members of the bureaucracy. At the very least, this should disqualify state workers from voting.
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