It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Federal tenant-based housing assistance has grown from serving 30,000 households through the Experimental Housing Allowance Program to serving 2 million families today through the Section 8 program.
In March 2005, the Food Stamp Program served 25.4 million people, supporting food purchases of low-income households. That is 8.56 million more people than the low point of July 2000. Over half of all food stamp recipients are children. Most Food Stamp households have income below the poverty line (about $19,000 for a family of four in 2005) and more than one-third of Food Stamp households have income below half of the poverty line, according to The Food Research and Action Center.
The most controversial tax provision would extend reductions in the estate tax indefinitely, but it would not eliminate the tax, as many conservatives have sought.
Under current law, estates of up to $2 million are exempt from the tax, and amounts over that are levied at a top rate of 46 percent. The exemption and top rate are scheduled to reach $3.5 million and 45 percent in 2009; the tax is to disappear in 2010, then revert to an exemption of $1 million and a top rate of 55 percent in 2011.
The provision before the House would reinstate the tax in 2010 with an exemption of $3.75 million and a top rate of 40 percent.
Further cuts would lift the exemption to $5 million and lower the top rate to 30 percent by 2015, after which the exemption would be indexed to inflation and the rate would remain 30 percent.
Other tax breaks, all of which expired this year and which the legislation would reinstate through 2007, include:
• Allowing deductions of up to $4,000 for higher education expenses.
• Allowing deductions for state and local sales taxes instead of state and local income taxes.
• Extending the research and development tax credit.
"(B) the wage provided for under clauses (ii) and (iii) of subparagraph (A) shall be automatically increased for the year involved by a percentage equal to the percentage by which the annual rate of pay for Members of Congress increased for such year as provided for pursuant to the Legislative Reorganization Act of 1946 (2 U.S.C. 31).'
SECTION 1. SHORT TITLE.
This Act may be cited as the `Living American Wage (LAW) Act of 2006'.
SEC. 2. SENSE OF CONGRESS.
It is the sense of Congress that--
(1) the Federal minimum wage should, as a minimum , be adjusted every 4 years so that a person working for such a wage may earn an annual income that is not less than 112 percent of the Federal poverty threshold, as determined by the Census Bureau; and
(2) Congress or any of the several States may establish a higher minimum wage requirement than that established in this Act.
SEC. 3. MINIMUM WAGE .
Section 6 of the Fair Labor Standards Act of 1938 is amended--
(1) by amending subsection (a)(1) to read as follows:
`(1) except as otherwise provided in this section, not less than $5.15 an hour beginning September 1, 1997, and not less than the amount determined by the Secretary under subsection (b) beginning January 1, 2007;'; and
(2) by redesignating subsection (b) as subsection (c) and inserting after subsection (a) the following:
`(b)(1) Not later than September 1, 2006, and once every 4 years thereafter, the Secretary shall determine the minimum wage rate applicable under subsection (a)(1) based on the formula described in paragraph (2). The Secretary shall publish such wage rate in the Federal Register not later than October 1 of each year. If such determination results in a lower minimum wage than that then in effect, the Secretary shall not adjust the minimum wage then in effect pursuant to this subsection.
`(2) The minimum wage rate determined by the Secretary under paragraph (1) shall be the minimum hourly wage sufficient for a person working for such wage 40 hours per week, 52 weeks per year, to earn an annual income in an amount that is 12 percent higher than the Federal poverty threshold for a two person household, with one person a child under age 18, and living in the 48 contiguous States, as published for each such year by the Census Bureau.'.
and when the heck was the last time us pions got a danged raise???
....society needs the goods and services, so the employees are needed, the employees need a certain amount of money to live.....period!! so how would you like these employees to come up with this money??
We estimate the longer-run effects of minimum wages by using information on the minimum wage history that workers have faced since potentially entering the labor market. The evidence indicates that even as individuals reach their late 20's, they work less and earn less the longer they were exposed to a higher minimum wage, especially as a teenager.
Nor is the minimum wage a well-targeted policy for reducing poverty. The usual stereotype is of a minimum-wage parent with no other family members working. But that's a small segment of minimum-wage workers. That same EPI Web site states that 14.9 million workers would benefit from an increase in the minimum wage to $7.25, 6.6 million of whom currently earn less than $7.25 -- they assume zero job loss -- and 8.3 million of whom earn more but, they claim, get a spillover. Yet EPI admits that only 1.4 million of the 14.9 million, less than 10 percent, are single parents with children.
A vast majority of teens and young adults who would be directly affected by the proposed minimum wage are also enrolled in school — 66.5 percent (or 3.6 million) of minimum wage workers (ages 16 to 24) are enrolled in high school or college. However, most of these teens and young adults enrolled in school do not live in poor families. Data from 1998 indicate that 82.6 percent (2.9 million) of enrolled teens and young adults live in families with incomes greater than 149 percent of the poverty level.
".... the government has to find a way to influence the economy in a way where the cost of living goes down while the wages goes up to the point where most of the population is able to fullfill their obligations, both financially and personal/family...
and why shouldn't they, it was their manipulation that contributed in it becomming so out of balance to begin with.