Minimum Wage or Gas Prices

[Insane Voter]

Not everyone is feeling well in the pocket book even though the Democratic led congress is promising to uplift the economy. Consider these perspectives:
Perspective Number 1: Who is getting the benefits?

Democrats contend the measures approved yesterday will lift the incomes of about 13 million workers -- 5.6 million who earn less than $7.25 an hour and 7.4 million people who earn slightly more but are likely to see their wages increase. However, According to the Bureau of Labor Statistics, about 1.7 million workers, or 2 percent of the hourly workforce, were earning $5.15 an hour or less last year. About half were under age 25, and nearly three-quarters were employed in food preparation or other service jobs.
Perspective Number 2: Gas Prices

Workers would get their first raise, to $5.85 an hour, 60 days after the measure is signed by Bush. A year later, the minimum wage would rise to $6.55 an hour, and it would hit $7.25 a year after that.
Uhm, gas prices are going up faster than the minimum wage.

Perspective Number 3: Harming Small Businesses






The two chambers finally struck a compromise last month that includes tax breaks worth $4.8 billion over 10 years, more than the House wanted but much less than the Senate had sought. More than half that amount -- nearly $2.6 billion -- would pay for an extension and expansion of a tax-credit program for employers who hire former welfare recipients, at-risk youths and other targeted groups.
The measure would also extend a law that allows small business to quickly deduct $112,000 for equipment purchases and raise the deduction amount to $125,000. It would allow married couples who operate unincorporated businesses to file as sole proprietorships, simplifying their tax returns, and offer tax incentives for rebuilding areas of the Gulf Coast damaged by Hurricane Katrina.









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