What if we set no minimum wage law, but set a minimum amount that would have to be paid for EMPLOYERS to be able to write off the expense of payroll, and a minimum that would need to be reached to be taxed. So a worker making under 75K annually would pay NO income tax, but the employer would have to pay the same tax they do now, but if they go OVER the 75K they can write off that workers payroll. These are just top of the head numbers and I'm sure better math would have a better impact on the idea. This would probably be better if coupled with a simplification of the current tax code and an end to a vast number of ridiculous write-offs.
So, @grok what is the downside to no minimum wage laws? My contention is that if you give companies a floor, ANY floor, they will try to stick as closely to it as they can get away with, whereas NO minimum wage means they have to compete for workers against others with no set minimum for all of them to lean on. I also think that it could help drive down or at least vastly slow inflation. I would also add to this that I've met people who would gladly work for less than the minimum wage since they don't necessarily have the need of the money, but of a purpose that might give them extra cash.
Wow.. really?
If Musk for example fails, do you have ANY idea the effect that would have on ordinary people? On global markets? On the US government? ANY entrepreneur who fails means that everyone under them fails, the investments people are funding their lives and/or retirements with fail, the underlying industries at play fail, businesses that supply anything upstream could fail...
You really think it is just their personal financial issue?
Guess what?
No "entrepreneur" can get malpractice coverage. The BEST you are going to get is a BOP, CGL, or PLI and NONE of those are going to cover performance failures.
Ask a socialist ONE question to prove the point that they just want others to pay their bills.
"What if we ended all taxes and you got to keep EVERYTHING you earned, would that be fair?"
Are you really that dense?
First, I never said anything about hospitals, and a LOT of doctors have their own private practice.
And second, the entire thing started by comparing billionaires to "a nurse, a teacher, or a farmer".
(And just as a side note, billionaire farmers exist as do billionaires whose background was in teaching or nursing.)
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