Politics & Government
Speak Out: Would Higher Minimum Wage Equal Lower Taxes?
WAMU 88.5 reported that Councilman Marc Elrich wants to raise Montgomery County's minimum wage to $12 an hour.
Bills to raise the minimum wage are generally deemed decidedly anti-business on their faces. Just look at the living wage bill recently passed by neighboring DC's Council that will reportedly frighten Wal-Mart away from the District.
Montgomery County Councilman Marc Elrich (D-At-Large), however, said his proposal to raise the county's minimum wage to $12 an hour won't impact businesses that much and might even lower taxes.
WAMU 88.5, Washington, DC's NPR affiliate station, reported that Elrich said, "The higher people's wages are — is less money that we're going to pay out in earned income tax credits. The less money we're paying out in free and reduced lunches. The less money we're paying out in housing subsidies."
Elrich said most businesses in the county already pay more than that, so the bill won't hurt them.
What do you think? Will a higher minimum wage shrink your tax bill? Would it be good for Montgomery County?
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