Minimum Wage and Earned Income Credit go hand in hand
There are ads running on TV that make their point by humorously showing why a couple would rather stay at a bed and breakfast than a bed or breakfast, and why it’s better to build a swimming pool with nuts and bolts instead of nuts or bolts.
What’s not so funny is that some in our state — such as Barry Rascovar — propose we could help Marylanders climb the economic ladder by raising the minimum wage or the Earned Income Credit when it really takes raising both.
Maryland’s Earned Income Credit (EIC) and minimum wage work best in combination to reduce poverty and income inequality, bolster the middle class, and help our local economies. Increasing both would put our state on a better path to economic prosperity and opportunity for all. More
So, it's a nice article, and I feel good reading it, except that there's math and numbers missing. I mean, if you are going to make a claim that one is related to the other, can't you show your work? We all had to do it in grade school for the teacher. Why are you exempt? I need to see numbers and their relationships to our present economy.
Or you could google eic and see what the thresholds and credits are.
This article is in response to a previous article chastising omally for the mw increase. his premise was that omally should simply give them more money thru the state eic by changing the threshold and credit amounts.
but the eic is primarily only good if you have children. for a single poverty stricken working adult the refund in minimal. but that fact is never mentioned in the first article.
So, 10:37, back to my point. By your own admission, key information is missing from this article. So, why was it written? Certainly not to inform anyone of anything or make any points or conclusions.
But, it's a lovely story, and the author writes it so well!
no key information is missing, neither article sited figures. it is obvious that you did not read the first article or you would understand the second article is complete in its response. no article is ever "complete". learn to educate yourself instead of relying on being spoon fed selective information. and do not twist my words. i said the FIRST article had omissions, not this one.
I believe the state only gives you 50% of what the Fed does. The EIC is only marginally increased each year. The first article was only written to criticize Omalley and fails to be honest. Whether it be tax money or a MW increase, it all comes back to the consumer. I would personally prefer a wage increase and decide through personal spending who I support vs mandatory tax increases.
He eludes that Omalley should double the state EIC credit and give raises in that fashion and not put it on the backs of businesses. Which will raise taxes. The second article states that both MW and EIC go hand in hand and they do.
Neither mentions the massive fraud in the EIC credit system and by doubling the credit you double the fraud payout.
It is helpful to read both articles to understand the content.
Only 2.9 percent of wage earners earn the minimum wage..Most minimum-wage earners are teenagers or young adults, not heads of families...Over half of minimum-wage earners are between 16 and 24..Two-thirds work part time The average family income of a minimum-wage worker is $53,000 a year, well above the poverty level..Just 4 % of minimum-wage workers are single parents working full time Studies find raising the minimum wage does not reduce poverty. It is a completely ineffective anti-poverty policy The primary value of minimum-wage jobs is learning jobs.- teach inexperienced employees employment skills that make them more productive and enable them to earn raises or move to better jobs. Over 1/2 of all Americans started their careers making within $1 of minimum wage. Few stayed there long Adjusted for inflation, the minimum wage currently stands above its historical average since 1950
The whole article is a libtard giveaway piece. The earned income tax credit give people tax refunds that have never paid any taxes to begin with. Just pure wealth transfer. The is NO possible conceivable way that these programs bolster the middle class and help the local economy. Just pure libtard Marxist think!
Curious about that myself. That figure is from the Bureau of Labor Statistics. You owe 11:29 an apology. As with most issues, we could all benefit from a little less emotion and a little more knowledge.
"If, according to you only 3% make mw, then its no big deal to raise it."
3%, so its 'no big deal'? What about the folks making between MW and $10? Do you understand that they will also be part of the group getting a raise in pay? Do you understand that those union members whose pay is predicated on MW will also see significant pay increases? Maybe it is the right thing to do, but let's not approach this out of complete ignorance. It is a huge deal.
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So, it's a nice article, and I feel good reading it, except that there's math and numbers missing. I mean, if you are going to make a claim that one is related to the other, can't you show your work? We all had to do it in grade school for the teacher. Why are you exempt? I need to see numbers and their relationships to our present economy.
ReplyDeleteOr, I could read tabloids...
Or you could google eic and see what the thresholds and credits are.
ReplyDeleteThis article is in response to a previous article chastising omally for the mw increase. his premise was that omally should simply give them more money thru the state eic by changing the threshold and credit amounts.
but the eic is primarily only good if you have children. for a single poverty stricken working adult the refund in minimal. but that fact is never mentioned in the first article.
So, 10:37, back to my point. By your own admission, key information is missing from this article. So, why was it written? Certainly not to inform anyone of anything or make any points or conclusions.
ReplyDeleteBut, it's a lovely story, and the author writes it so well!
8:09PM
no key information is missing, neither article sited figures. it is obvious that you did not read the first article or you would understand the second article is complete in its response.
ReplyDeleteno article is ever "complete".
learn to educate yourself instead of relying on being spoon fed selective information.
and do not twist my words. i said the FIRST article had omissions, not this one.
7:27 Do you actually read anything or do u simply spew nonsensical comments?
ReplyDelete10:37 clearly told you why it was written, try actually reading their response.
Why do people like you even come on here and comment?
I believe the state only gives you 50% of what the Fed does. The EIC is only marginally increased each year. The first article was only written to criticize Omalley and fails to be honest.
ReplyDeleteWhether it be tax money or a MW increase, it all comes back to the consumer. I would personally prefer a wage increase and decide through personal spending who I support vs mandatory tax increases.
He eludes that Omalley should double the state EIC credit and give raises in that fashion and not put it on the backs of businesses. Which will raise taxes. The second article states that both MW and EIC go hand in hand and they do.
Neither mentions the massive fraud in the EIC credit system and by doubling the credit you double the fraud payout.
It is helpful to read both articles to understand the content.
Only 2.9 percent of wage earners earn the minimum wage..Most minimum-wage earners are teenagers or young adults, not heads of families...Over half of minimum-wage earners are between 16 and 24..Two-thirds work part time The average family income of a minimum-wage worker is $53,000 a year, well above the poverty level..Just 4 % of minimum-wage workers are single parents working full time Studies find raising the minimum wage does not reduce poverty. It is a completely ineffective anti-poverty policy The primary value of minimum-wage jobs is learning jobs.- teach inexperienced employees employment skills that make them more productive and enable them to earn raises or move to better jobs. Over 1/2 of all Americans started their careers making within $1 of minimum wage. Few stayed there long Adjusted for inflation, the minimum wage currently stands above its historical average since 1950
ReplyDelete11:29 what fantasy are you living in?
ReplyDelete"The average family income of a minimum-wage worker is $53,000 a year"
Yea it they work 7310 hours a year or 140 hours a week which is 20 hours a day EVERY day.
That is simply a lie.
The whole article is a libtard giveaway piece.
ReplyDeleteThe earned income tax credit give people tax refunds that have never paid any taxes to begin with.
Just pure wealth transfer.
The is NO possible conceivable way that these programs bolster the middle class and help the local economy.
Just pure libtard Marxist think!
>>>That is simply a lie.<<<
ReplyDeleteCurious about that myself. That figure is from the Bureau of Labor Statistics. You owe 11:29 an apology. As with most issues, we could all benefit from a little less emotion and a little more knowledge.
Do the math
ReplyDeleteNo apology, prove it, you offering nothing more than your opinion.
ReplyDeleteNice skew of the numbers...
ReplyDeleteHere are the actual numbers not bunched together to validate a bogus theory.
16-19 yr old 4,000
16-24 yr old 14,909
25 & over 60,367
(in thousands)
Looks like your teenage mw theory doesn't hold up, since those over 25 have the highest mw participants.
ReplyDelete>>>No apology, prove it, you offering nothing more than your opinion.<<<
"The average FAMILY income of a minimum-wage worker is $53,000 a year."
Do you understand that FAMILY implies cumulative wages?????
Do I actually have to supply the numbers for you?
Get out your crayolas and YOU do the math.
See 1:55's post.
ReplyDeleteThey did the math for you.
While we are at it, highest unemployment:
16-17 yr old 28.7%
18-19 yr old 20.9%
20-24 yr old 14.3%
25 and over 6.5%
Again, blowing your "mw is for kids" theory.
If, according to you only 3% make mw, then its no big deal to raise it.
All you did was retype a sentence, hope you didn't get a hand cramp.
"If, according to you only 3% make mw, then its no big deal to raise it."
ReplyDelete3%, so its 'no big deal'? What about the folks making between MW and $10? Do you understand that they will also be part of the group getting a raise in pay? Do you understand that those union members whose pay is predicated on MW will also see significant pay increases? Maybe it is the right thing to do, but let's not approach this out of complete ignorance. It is a huge deal.