Essay On Increasing Earned Income Tax

Decent Essays
With raising the federal minimum wage, the government could also put new laws in place that expand the Earned Income Tax Credit (EITC) and decrease health insurance premiums for the lower and middle class. The government could also create training programs for minimum wage workers, allow them to take two to four years of community college classes for free, or reduce taxes on the lower and middle class. Increasing the Earned Income Tax Credit would help the working lower class earn slightly higher than a “living wage” while not damaging our economy and causing inflation. The middle to upper class would most likely have to pay slightly more in taxes, but it would balance out when they no longer have to pay taxes for the lower class to receive government assistance. Currently, a huge…show more content…
“No business which depends for existence on paying less than living wages to its workers has any right to continue in this country.” (1933, Statement on National Industrial Recovery Act) Minimum wage was originally intended to support a family and be a wage to comfortably live off of; it was meant to be a starting place for people with little to no skills and to give employees the fair compensation they deserve for working overtime. If the government were to raise the minimum wage to fifteen dollars an hour, it would help the lower class long term; many people will no longer need government assistance to afford necessities allowing the minimum wage workers in America to no longer worry about finding their next meal. Businesses will also benefit because minimum wage workers will finally have a disposable income, there will be a lower turnover rate, and employees will be happier. Bottom line, minimum wage needs to be raised. 80% of Americans already support raising the minimum wage (Daniel, Kim M.); so what is the government waiting
Get Access