24 million Americans receive wage supplements. Reich is pushing for a wage supplement law. A full time worker earning $20k would receive $15k in wage supplements; $30k/$10k wage supplement, $40k/$5k wage supplement. Incomes of $50k to $90k would pay 10% of earnings, $90k to $160k would pay 20% of earnings. Wage supplement will cost $633 billion. Who is going to foot the bill? A carbon tax ($115 per ton of carbon) and higher taxes on the rich will yield $600 billion. A carbon tax would reduce company operating funds, increase unemployment, and reduce profit margins. Reich wants the middle class to have more disposable money to spend and the super rich and big business to earn less through force redistribution of wealth. The justification for imposing a carbon tax is to force companies to find cleaner and cheaper energy. Reich believes a carbon tax will boost aggregate demand[Learn More ...]

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