Recently, a long overdue hike in the minimum wage was agreed upon in Congress. Disappointingly, the GOP initially refused to raise the minimum wage in the same week as they voted to raise their own salaries. Nevertheless, between most Democrats and a good 50-70 Republicans, a compromise was negotiated under which the minimum wage will increase from $5.15/hr to $7.25/hr over three years. This is a major victory for working people, particularly the working poor. This compromise was driven in part by the desire to avoid tailor-made campaign commercials juxtaposing the two votes in the same week mentioned above and includes a tax cut.
The fact that a Republican controlled Congress needed to negotiate to procure a tax cut is particularly interesting because it indicates that tax cuts are no longer as popular a platform as they used to be. People will always want more money in their pockets, and truly, the “tax revolt” continues to rage on in various parts of the country and will ripen in others, but more than that, I believe there is a growing concern with fiscal responsibility as the deficit, particularly the foreign trade deficit continues to grow. A few action items I would like to see implemented along these lines are:
1. Include a provision to adjust the minimum wage for inflation. This way, we will not need to fight to keep somebody working full-time above the poverty line. With all the entitlement programs we’ve got, its cheaper to just pay a living wage.
2. Condition tax breaks upon employing U.S. Citizens
3. Condition tax breaks upon buying U.S. manufactured goods
4. Adjust minimum wage by COLA (Cost of Living Adjustment) so that those living in more expensive areas of the country can remain above the poverty line when working full-time.
5. Decrease Congressional salaries. Honestly, these guys are mostly independently wealthy to begin with. We could at least condition their large six figure salaries upon balancing the budget.
6. Amend the Constitution to require a balanced budget
7. Require each expenditure be voted on separately to avoid logrolling and demand expenditures be meritorious. This will also increase accountability to the people.
8. Implement foreign policies that penalize nations who deny U.S. products the same market access they seek in the U.S. market. We have the most powerful marketplace in the world, which means we should be able to send our goods into every marketplace on the planet.
9. Assess penalties against the foreign debt and currencies collected by other nations for specific, enumerated human rights violations, verified by independent nations.
Comments invited.