Raising the minimum wage ! What do ALL politicians hate to be forced to vote on ? HINT : Ask H.G.W. Bush ! A tax hike !
So ? What is the easiest way that taxing authorities can raise more taxes ? Well , dad burn it - RAISING WAGES ! And i hope you don't have the idea that this only effects
the low wage earners . It gets ALL of us . Do those that get the raise do better with a higher wage . Yup ! For a while ! But do employers really pay more wages ? Not hardly . Wages / benefits are considered " cost of doing business " by the employer . They ain't gonna take the higher wages out of their own pockets . They raise the cost of the goods / services they sell to the consumer ! Go look in the mirror . There is a consumer . So th wage is raised from $10 / Hour to $15 / hour . That is GREAT ! But wait one minute ! Federal income taxes are based on a percentage . All income taxes are . Social Security taxes are . Each taxing authority - those that have the authority to tax your income - will get an IMMEDIATE chunk of your new found wealth ! Federal , State & and Local authorities that can tax your income also get an immediate raise . Social Security is collected on a percentage of your income and - most Americans are not even aware of this fact but the employer must MATCH your Social Security Tax penny for penny . That , along with the higher wage - is going to raise the cost of doing business to the employer! They are gonna raise their prices - calling it inflation ! If you get a $5/ hour wage increase and your federal income tax ( i am rounding off here to keep it simple ) is 20% the federal government is gonna get $1 of your wage rate - not including SS / Medicare - they get their cut also . You make more money ! Spend more money and much of that is subject to sales tax .Government gets more of your raise ! See ? Nobody had to look bad to increase tax revenue but the governments - federal , state , local do pretty good . You take your new $5 / wage increase to the store and prices are UP AGAIN .... and you wonder why ! One more time = costs go up - prices go up ! Pretty damned simple ! Only place the governments have of getting their operating money is through taxes . governments sell nothing ! Governments tax ! Your new raise helps you out for 6 months or so but ... then you need a raise . The LARGER government is the more loot it needs . Where do they get it ? Go look in the mirror and bend over !
The government claims that OUR Social Security fund will go broke ! Why ? There is more paid into it then is paid out ! Fact ! Told to you this one more time - The only place government can get money is by levying tax ! Or in our case - BORROWING money ! $21 Trillion more then it brings in . Congress needs more loot to pay their women off . AHHH!! Lokka here ! The Social Security Trust fund. ! So Congress amends the law so that the ONLY place the SS Trust Fund can can loan / invest your savings is to .... wait for this ... YUP ! The United States Government ! That make sit part of ... the federal debt -About $7 Trillion of our savings for OUR retirement . The Federal Government OWES us $7 Trillion . And they cannot pay it back . GOOD GAWD AMIGHTY PEOPLE + What would our SS Trust Fund look like if that $& Trillion was in the stock market ? The federal government pays .015% on our money . NEWS FLASH ! The government spends more loot a minute then it can pay ! So i gotta ask one more time ! Why do you people continue to vote the very same people into office time and again when they have proven , time & again , they cannot get it done ?
Happy New Year !
Hope you pass this on !