I dont hear any call to reduce taxes to support a “hike in minimum wage” . Taxes currently double the cost of paying an employee. to be clear, if you hire someone at $15/ hr , payroll and other taxes double that cost to $30 (approximately).
Since i hear no call to decrease (preferably eliminate) payroll taxes, i can only assume that the politicians are only looking for more tax money to come in by increasing the minimum wage.
so if you double the minimum wage, and do not cut the taxes, the taxes by default double, as the taxes are tied to the wage of the employee.
1 Like
and insurance
as insurance is required by (and in some cases paid to) the govt, i consider that a tax as well.
1 Like