Wednesday, September 3, 2014

Paul Ryan Blocks Minimum Wage Hike, but allows Corporate Tax Inversions Overseas.

It’s frustrating for Democrats and real conservative penny pinchers who see an important solution to our ballooning government assistance problem blocked by Paul Ryan; increase the minimum wage.

The minimum wage would not just take more people off assistance and save taxpayer money, but it would increase consumer demand and reduce the corporate use of government programs to supplement their bottom line.

Instead, the GOP’s top snake oil salesman Paul Ryan would much rather ignore reports of job increases due to higher minimum wages, and beat to death the CBO’s admittedly squishy determination that “suggested” a hike would result in a loss of 500,000 jobs. jsonline:
Ryan told a luncheon audience at a joint meeting of the Milwaukee Press Club and the Rotary Club of Milwaukee … A day after Obama appeared in Milwaukee and called on Congress to raise the minimum wage from $7.25 to $10.10 an hour, (saying) he opposed the measure because it would cost the economy jobs. He cited a Congressional Budget Office study that suggested a minimum wage rise could lead to a loss of 500,000 jobs.
The Policy of Platitudes: Ryan’s detail free talking points are getting old:
"Let's focus on economic growth," he said. "Let's focus on job creation."
In the mean time, Wisconsin media refuses to ask Paul Ryan why his solution, increasing the Earned Income Tax Credit, was the first thing state Republicans cut to balance the budget. The GOP’s reason? The poor didn't earn the money they got back with the tax credit:
Ryan trumpeted the earned income tax credit for low- to moderate-income workers. He said it was "a far smarter way of pulling people into the workforce" than raising the minimum wage.
Ryan is so unwilling to compromise and close corporate loopholes, that he’s willing to permanently lose corporate taxes to inversions to make his point:
Ryan said Congress should not move to block tax inversions, in which U.S. firms purchase smaller foreign corporations and then transfer their headquarters overseas so they can lower tax rates. "Simply putting up a fortress around America with these anti-inversion rules, all that we'll end up doing is accelerate the takeover of U.S. corporations by foreign corporations," he said.

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