Raising Floor for Minimum Wage Pushes Economy into the Unknown

Re:Raising Floor for Minimum Wage Pushes Economy into the Un... by JonFish85 on Monday July 27, 2015 @12:20PM (#9956106)

If the tax rate is 95%, a company would have to pay someone a $21 million dollar salary to pay that person $2m. I suspect that no company would do such a thing, as it's just throwing money away.

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Re:Raising Floor for Minimum Wage Pushes Economy into the Un... by bryanlarsen on Monday July 27, 2015 @12:37PM (#9956251)

5% of a very large number is still a large number. Very few people are going to say "don't give me that extra $20 million because the government will take $19 million." $1 million is still a lot of money.

And of course, there are lots of deductions. You could give that $20 million to a charity and the government would get none of it. You wouldn't get any either, but you could certainly get a lot of indirect value out of giving away $20M.

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Re:Raising Floor for Minimum Wage Pushes Economy into the Un... by JonFish85 on Monday July 27, 2015 @12:46PM (#9956320)

What company is going to pay that? It's just silly. If you felt that a CEO/athlete/whatever was worth $30m a year, you'd have to pay that person $581 million dollars. They'd find some other way, that money wouldn't go to the government.

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Re:Raising Floor for Minimum Wage Pushes Economy into the Un... by toomuchtodo on Monday July 27, 2015 @01:04PM (#9956472)

> They'd find some other way, that money wouldn't go to the government.

And so we keep closing loopholes.

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