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View Diary: McConnell's gambit (113 comments)

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  •  $50K (0+ / 0-)

    No, we should not go back to $250,000. That was a stupid figure that doesn't represent reality. Frankly, there should be no tax cuts continued. Taxes are not too high. incomes are too low. If you're having problems paying your taxes, then you need more income. It's a simple as that.

    But $50,000 reasonably represents the average income. People who are making less than that should arguably receive a tax cut. They have been suffering and they deserve a break.

    However, to go along with that tax cut there should be a balancing compromise on the Republican side. I suggest that in exchange for retaining the tax cuts for people earning $50,000 and below there should be an increase of one dollar per hour in the minimum wage.

    The real problem we have is a lack of income. To solve that, we need to push income. A raise in the minimum wage would do that. That's what we need to see in order to start to kick off the economy. Increased earnings lead to a faster, more robust economy.

    So, let's not go back to $250K. Let's go back to $50K. That's closer to the right path. If you're going to have to have tax cuts, make them count.

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