Thursday, August 03, 2006

No Multi-Millionaire Left Behind


Marrying the elimination of the estate tax to an increase in the minimum wage is unconscionable. It is another bait and swich proposal and bamboozels the American people. It is the story of Robin Hood--in reverse--it steals from the poor and gives to the rich. Lets compare the two proposals:

  • according to the Economic Policy Institute the average increase in pay for a worker on minimum wage is $1100.00 a year. Though if one worked all year round it could be as high as $4400.00 a year.
  • Increasing the minimum wage would affect 6.6 million people.

On the other hand,

  • Making permanent the Paris Hilton tax cut would only apply to 8200 people.
  • Their windfall: the average is $1,300,000.00 with 90 estates getting as high as $5,400,000.00 in 2011.

These windfalls and irresponsible give-aways must be paid for in the future. While the politicians in power have their cake and eat it too, our next generations get to pay the credit card bill. How much will it cost the U.S. Treasury? $300,000,000,000.00. By raiding the treasury to give Paris Hilton more of her daddy's money, this policy eventually shifts the tax burden to working families. By the way, my opponent--who stands to benefit himself from this bill as he is a multi-millionaire--voted for this bill which according to a Salt Lake Tribune Editorial is sure to die in the Senate. It is time to disconnect these measures and pass a meaningful minimum wage increase with no strings attached.

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