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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Knighty Tin who wrote (15487)	6/18/2004 4:02:29 PM
From: CalculatedRisk	Read Replies (1) of 110194

How about this: No SS tax on the minimum wage? Here is my thinking ... we could raise the minimum wage from $5.15 to $5.50, but neither the employee or the employer pays SS tax on the minimum wage. So $5.50 would be the same to the employer and the employee would get an extra $0.70 (or so) per hour. The employee would still get credit for hours worked (for SS) and we could make up the difference in SS revenue by raising the maximum salary that pays SS. More money to the working poor. No layoffs due to higher costs. More aggregate demand for goods.

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