GOP Pushes Tax

A detailed Summary of GOP Pushes Tax


The Republicans are pushing a tax bill that drew a veto message by president

Clinton. It is a $245 billion tax package that would tax labor. The bill was approved

by the House by a vote of 237 to 174, but the Senate will not vote on the bill until

Friday. The tax bill also contains a $1 boost in the federal minimum wage over the

next two years, which would raise the wage floor to $6.15 an hour.

The market for labor is very inelastic, because people are going to work whether

or not there is a tax. Most people claim they would work full time regardless of wage.



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, minimum wage, price floor, tax bill, $1 boost federal, federal minimum wage, price labor equilibrium, boost federal minimum, labor equilibrium price, price labor, federal minimum, loss surplus, boost federal, $1 boost, taxing labor, labor equilibrium,

Approximate Word count = 399
Approximate Pages = 2 (250 words per page double spaced)

Category: Miscellaneous

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