Obama And Donald Trump 's Plans For Taxes And The Effects Their Campaign Promises Will Have On Small Businesses

The nation has been evenly divided between Donald Trump, who is calling for dictatorial control of the country with massive tax breaks to the top 1%, and Hillary Clinton, who is calling for tax breaks for the middle class.

Which would raise it six dollars and twenty five cents. Which amounts to fifteen dollars an hour, which would equate for a full time worker to thirty one thousand dollars a year. A proponent of the minimum wage increase is Thomas Perez, who said “Workers are feeling like they have nothing left to lose” He works as an analyst for the National Employment Law Project, which aims at helping the working class of people. It ends by talking about Obama and his goal of raising the minimum wage to nine dollars an hour, as well as have it follow the consumer index so it would raise periodically Conversely in Arthur Brooks article he stipulates that President Obama neglects the poor. He reasons this by formulating research which he gives that says our current President only talks about the poor class on fourth of the time, while others such as former President Ronald Reagan talked about the poor in his speeches two thirds of the time. Looking at both these articles gives the notion that our President has agreed with raising the minimum wage. Although according to Brook's article he hasn't talked nearly as much about the poor class as other Presidents. It seems important to talk about this class of people since they will be the ones most affected by this social, and economic issue. Seeing the results of just talking about something you can see how effective it is in changing it. Without the

Donald Trump, the favorite candidate for this years election, recently claimed that wages are too high in America. One may wonder if he was lost in some sort of day dream or maybe he was talking about his own wages? As someone who has never had to worry about money, considering his families wealthy background, how would he possibly know what its like to live barely get by living off the federal minimum wage? Consider someone who is able to work a full time job being paid minimum wage, after taxes are taken out of their paycheck they would be looking at approximately a $13,000 salary per year. $12,000 is the poverty line in America for an individual. This is the life of a working class citizen in America. Constantly struggling to pay the bills and having to worry about how they are going to feed their children every week. The numbers show that minimum wage is clearly not sufficient to sustain a normal way of life and a raise would not only benefit millions of americans lives but also boost the economy.

President Barack Obama claims that raising the minimum wage would allow for low wage workers to “make ends meet”. This would ensure that everyone has a fair economic opportunity despite what economic trials many face. President Obama was a firm believer in raising the minimum wage and how it would make a huge difference in the lives of families throughout the nation. The minimum wage rate that President Barack Obama would like to see now would be an increase from $7.25 per hour to $12.00. The substantial increase would allow for those with families who work jobs outside of the Federal government and private industry to be able to more comfortably provide for their families. Based on the bill proposed by Congress, President Obama would

As said on npr.org by Danielle Kurtzleben “Donald Trump’s tax plan is indeed a large tax cut, but those cuts would largely benefit the highest earners. According to a recent analysis from the right-leaning Tax Foundation, the top 1 percent could see their after-tax incomes increase by up to 16 percent. Meanwhile, the bottom four quintiles would see their incomes grow by 1.9 percent or less.” Donald Trump is focused on making the rich richer and the middle class less fortunate than they already

Donald Trump, a wealthy businessman, and Hillary Clinton, former secretary of state, are the presumptive presidential candidates of their political parties in the current election cycle. Both candidates have faced strong opposition within their own parties, as well as from their opposing parties. They share similar views on making voter registration easier, higher taxes on the wealthy, and keeping God in the public sphere. Although Trump and Clinton have some similar beliefs on how to govern the country, they have very different beliefs on health care reform, immigration reform, and second amendment rights.

Most of the opinion divergence among the candidates was based on slashing taxes. While both Trump and Clinton wanted to modify the existing tax rates as well as laws associated with it, the similarity ended there. Trump wanted to reduce taxes for the wealthy and his rhetoric was that it would be beneficial in the long run as wealthy population would have higher incentive to invest in the country. As a result, more industries and production houses would be built in the US, consequently improving economy as well as creating new jobs. On the other hand, Clinton vehemently opposed this policy. She was

The real question everyone wants to know is, is the minimum wage going to increase or will it remain the same? Let's go back in time to where it all started in 1938. President Franklin D. Roosevelt set the minimum wage to $0.25 cents an hour. FDR had a great statement about minimum wage and it's not for little kids. The statement proposes "is the amount of money a family can make in order to survive." Originally that was what the minimum wage was established as. Problem is, other salaries have risen exponentially and the minimum wage has remained stagment and has not kept up with inflation. With every new president there has been an increase in minimum wage, whether it was a big jump or just simply $1.50

The 2016 Presidential election is getting closer and the two major party nominees are getting ready for the fight of their lives, and not holding back any punches. In the red corner, representing the Republican Party, Donald Trump, the successful business person wants to make America great again. In the blue corner, representing the Democratic Party, Hilary Clinton, the former first lady and Secretary of state is making history as the first female major party Presidential candidate. Both have toured the country in full campaign mode trying to win the heart and vote of the American voters. The 2016 Presidential candidates, Hillary Clinton and Donald Trump, have very different views on debated topics

In the US, President Barack Obama urges Congress to raise the federal minimum wage to $10.10 an hour from $7.25. Although some Republicans oppose to this action, overwhelming majority of Americans see that is a good idea (The Guardian, 2014). Regarding to the issue of minimum wage, there have been lots of debates for a long time. Some economists such as Milton Friedman deeply believe that minimum wage kills jobs, but some like Alan Krueger and David Card think, to some extend, it actually increased employment (The Economist, 2012). To detailedly understand the topic of the minimum wage, both sides debate of the economists on the issue should be concerned.

There are only fourteen states in the United States, whose minimum wage is the same as the federal wage, which is seven dollars and twenty-five cents, and the most hours they could work is about forty hours a week . In most workplaces, they cut out the taxes from the employees’ weekly checks. Bernie Sanders believes that if the minimum wage is fifteen dollars, then there would be no poverty, because the United States has the highest child poverty rate than any other country in the world . There are those few Republicans who believe that minimum wage should not be increased, like Rand Paul, whereas Donald Trump believes that there should be a minimum wage for high schoolers and “slightly higher for adults” . Having the minimum wage set to fifteen dollar is more likely to help with poverty rates and also the college student who are trying to help their parents pay for

Interestingly enough, wages have remained high while unemployment rises. This model is also applicable to the current time period. Businesses can simply not afford to meet the minimum wage law while America remains in a trade deficit. Dissolving the minimum wage law will thus result in the ability of business to remain afloat and with time be able to compete with top exporting countries that are not limited by a minimum wage. All of this means that America will once again be able to complete globally. Additionally, the minimum wage laws affect small businesses in a negative way. The National Small Business Association and National Federation of Independent Business continually push back against minimum wage being raised. They have maintained that a high minimum wage will result in small businesses having to cut back hours or cut employees entirely, stifling both efficiency and potential growth (Harrison). Removing the law will create an environment for small businesses to flourish and be able to hire more workers. Although opposing sides argue that minimum wage ensures that people have money to spend (Harrison), they are forgetting a critical point: should minimum wage stay intact, and perhaps even be raised, unemployment will rise, which means fewer people will be able to spend money at all because, after all, people need a job to have money. Furthermore, abolishing minimum wage will result in businesses becoming

Many people currently earning minimum wage are clamoring for an increase while others do not want an increase to keep wages competitive. A minimum wage increase would help out the ones that are currently earning a minimum wage “If the federal minimum wage were increased, the disparity in the minimum wage and tipped workers' hourly wage could grow larger.” (Leah Cayson). A minimum wage increase would let workers have more hours which in turn means more productivity for the business, more money for the employee, and the employees would be happier. The amount of people living in poverty is high enough with many of them living on welfare checks but if the minimum wage does increase that could go away completely reducing taxes for everyone. Many people also believe that the minimum wage should stay where it currently is “Going to $15 adds $128,000 to labor costs, almost 3 times the take-home pay of the owner. Ask yourself how one of the 5 million small businesses with fewer than 10 workers would handle this” (William Dunkelberg). Small business owners are already having to pay a lot of money for labor, supplies, and advertising. Increasing the minimum wage up to $15 will decrease wages for

Some of these include offering more vacation days, extra paid sick leave, and increasing the amount of overtime pay workers get. In order to present these ideas, he created a 77 page document on his plan for fixing wage issues called “Working Too Hard For Too Little”. Within this document, he says “In particular, the federal minimum wage has not kept pace with inflation.” To further this argument, he says that people making the minimum wage make $15,080, but the poverty line for a house of two is $16,240. The inflation has caused this, by making the poverty line higher than it was before the last time the minimum wage was adjusted, while the minimum wage stayed the same, and became lower than the poverty

Mrs. Clinton and Mr. Trump both have many powerful interests group backing their policies and providing money and voter support. For Mrs. Clinton, a big area that interest groups have shown themselves is on the issue of Obama care. The American Nurses Association among others has shown support sense