Posted on 02/26/2021 11:56:52 PM PST by blueplum
Senate Democrats are racing to finalize a new tax provision that would penalize large companies that pay low wages. The move comes after Senate Parliamentarian Elizabeth MacDonough ruled Thursday night that a $15 minimum wage hike cannot be included in the Senate COVID relief package...
The plan being drafted by aides to Senate Finance Committee chair Ron Wyden of Oregon — in close consultation with Senate Budget Chair Bernie Sanders of Vermont — would impose a 5% payroll tax penalty on "very large" companies....
(Excerpt) Read more at cbsnews.com ...
Let me roll these dice here.
Doesn't that silly old Constitution have a provision that revenue bills (taxes) have to originate in the House?
Why is Josh Hawley weighing in on the wrong side of this issue? Companies that can afford to are already moving in this direction. Companies that can’t afford it will be taken down and drowned in it. Wise up, Josh.
“Some Republicans have taken note of the public support for a minimum wage hike. On Friday, Republican Senator Josh Hawley of Missouri announced a proposal to require companies with revenues of $1 billion or more to pay their employees $15 per hour.
Under Hawley’s plan, small business employees who earn less than $15 per hour would qualify for a “Blue Collar Bonus” in the form of an automatic tax credit. “Mega-corporations can afford to pay their workers $15 an hour, and it’s long past time they do so,” Hawley said, “but this should not come at the expense of small businesses already struggling to make it.”
I think Hawley looks at these larger companies as pretty much all sponsors of the Democrats, so he figures they should get the ‘benefits’ of who they support.
As the Ronaldus Maxamus said:
The DemonicRat economic plan for business is:
1. If it is successful TAX it.
2. If it continues to be successful REGULATE IT.
3. When it fails SUBSIDISE IT.
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