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Tag Archive: Estate Tax

Millionaires and the Minimum Wage

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Cynicism is a human-borne disease that is caused by a variety of factors, one of which includes paying close attention to the actions of politicians in crafting laws.

If you were up and awake at 1:41 a.m. Saturday morning and watching the roll call vote in the House of Representatives on C-SPAN, your cynicism levels would no doubt have leaped alarmingly.

In that vote, the House attached a double-edged amendment to an overhaul of the nation’s pension policies. On the one hand, it included a $2.10-an-hour raise in the minimum wage, to be phased in over the next three years – a popular idea with the public, according to recent polls. On the other hand, it slashed the rate on estate taxes for multi-millionaires – an even more popular idea if your net worth exceeds $5 million.

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