Mike Solomich - executives at all. I believe this because...

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Mike Solomich Management February 8, 2007 Executive Camp Recently Democrats have wanted to tax the “rich” more than the poor. These taxes will help the small business that stand to be hurt by the minimum- wage increase. This is because to raise the minimum wage, the Senate had to cut taxes. But to cut taxes, the Senate had to raise taxes. These taxes would be taken from the “rich” by putting a cap on it which is equal to $1 million or the executive’s average salary for the previous five years, whichever is lower. If the Senate decides to flow through with this, it will not affect the top
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Unformatted text preview: executives at all. I believe this because if you take out more of their pay they will just increase their own pay so that they have the same amount of discretionary income as before. This extra money will come from increase in product prices or from the lowered the salaries of the bottom workers. So the Senate can do whatever they want with taxing the top executives or the “rich”. But no matter what those “rich” will get their money that they think that they deserve or need....
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This note was uploaded on 11/15/2009 for the course ENG 401 taught by Professor Mess during the Spring '09 term at Northwood University, Michigan Campus.

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