Interesting policy choices confront the West Coast:
“The new West Coast
Model is higher taxes on the rich, higher spending by the state and wide-scale
efforts to lift the working poor, all in the pursuit of stronger and more
evenly shared growth. It is on the ballot in three states: Californians are set
to essentially make permanent an income tax surcharge on millionaires in order
to fund education. Washington voters appear likely to raise their minimum wage
statewide to $13.25 an hour, and to mandate paid sick leave for workers.
In Oregon, it will be
a down-to-the-wire battle to see if voters will bolster their state budget by
taxing large corporations….
“Nationally, we’ve had a real experiment over the years on slashing corporate taxes, and even slashing taxes on the wealthy,” said Martin Hart-Landsberg, a professor emeritus of economics at Lewis and Clark College, who supports the tax measure currently before Oregon voters. “The argument was, this was going to go into higher profits, which was going to turn into more investment, and we were all going to gain. That hasn’t happened.””
Related:
“Nationally, we’ve had a real experiment over the years on slashing corporate taxes, and even slashing taxes on the wealthy,” said Martin Hart-Landsberg, a professor emeritus of economics at Lewis and Clark College, who supports the tax measure currently before Oregon voters. “The argument was, this was going to go into higher profits, which was going to turn into more investment, and we were all going to gain. That hasn’t happened.””
Related:
Readings on the Minimum-Wage Debate:
http://vivekjayakumar.blogspot.com/2016/10/the-minimum-wage-debate-microeconomics.html
http://vivekjayakumar.blogspot.com/2016/06/the-minimum-wage-debate.html
http://vivekjayakumar.blogspot.com/2016/06/the-minimum-wage-debate.html