Minimum Wage and Maximum Earners (July 31, 2006)

Raising the minimum wage to provide a livable wage is virtuous.  However, the economic evidence is almost irrefutable that a rise in the minimum wage leads to a reduction in employment.  The head says no.  The heart says yes.  Support the higher wage.

The Democrats are critical of the effort to raise the amount exempt from the estate tax.  However, raising the exemption to 10 million per couple would protect the assets of many hard-working members of the Greatest Generation.  [See the April 18, 2005 e-ssay entitled “Death and Taxes: $10 M and 33 1/3 %.”]  The more substantial figures suggested in the pending legislation are excessive.  Some who seek to eliminate the estate tax altogether may view this change as a start.  However, if reasonable legislation is adopted, the momentum to eliminate the estate tax altogether may dissipate.

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