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Will a tax cut for the middle class hurt wages ?

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Blarch Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 05:48 PM
Original message
Will a tax cut for the middle class hurt wages ?
I heard Thom Hartman make this argument on his radio show.

I make $50,000 a year

Taxes take $25,000 a year

I take home $25,000 a year


I receive a tax cut and now take home $33,000 a year, but my boss knows I will work for $25,000 a year.

Wages in general become stagnant, or even reverse because of the tax cut.

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ben_meyers Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 06:00 PM
Response to Original message
1. You mean the Thom Hartmann
With his C.H. (Chartered Herbalist) degree from Dominion Herbal College, an M.H. (Master of Herbology) degree from Emerson College, and a Ph.D. in Homeopathic Medicine from Brantridge in England.

What the hell would prepare him to expound on economics?
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DrToast Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 06:19 PM
Response to Original message
2. No
No, that's ridiculous. That's not how wages are set.

To see why, turn the situation around and ask the same question. How can your boss lower your salary when you already know what he/she would pay?
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