GM and others shutting down production.
Just heard the GM part on tv news, looked HERE and found out it's hitting the others as well. Trucks seem to be getting the hardest knocks. Our little Chevy dealer here only has 4 new vehicles on ...
Forum Discussion
Raising of wages unilaterally raises cost for all goods and services, close to the point of negating all positive effects of the raise. The only real beneficiary, is the government.
Folks who were low enough income to pay no taxes, now will. And the tax tables don't seem to be changed to reflect the old tax rate at the new pay level. Those who were paying 5% in tax will now pay 7 or 8 percent, Those who were paying 10% get upped to 15% and so on. NOBODY pays the same after these raises go into effect.
It is one more case of the Government telling schmucks that they are helping them, when in fact it's the government that benefits most.
Folks who were low enough income to pay no taxes, now will. And the tax tables don't seem to be changed to reflect the old tax rate at the new pay level. Those who were paying 5% in tax will now pay 7 or 8 percent, Those who were paying 10% get upped to 15% and so on. NOBODY pays the same after these raises go into effect.
It is one more case of the Government telling schmucks that they are helping them, when in fact it's the government that benefits most.
