Robert Reich: Poverty-Level Wages

Posted by admin on Sunday, April 11, 2021

Robert Reich Money Quote saying those working full time jobs at minimum wage are costing the government in subsidies for those same families, so employers should contribute or pay more to workers. Robert Reich said:
 
Poverty-level wages cost U.S. taxpayers $152.8 billion a year in public support for working families. So it's only logical to raise taxes on big companies that give their workers poverty-level wages, to pay for this subsidy Quote
 

Poverty-level wages cost U.S. taxpayers $152.8 billion a year in public support for working families. So it’s only logical to raise taxes on big companies that give their workers poverty-level wages, to pay for this subsidy” — Robert Reich

 

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In this quote, Robert Reich is making the argument that large companies which pay their workers very low, poverty-level wages are effectively being subsidized by taxpayers.

He notes that it costs the US public an estimated $152.8 billion annually to provide support like food stamps, Medicaid and tax credits to working families who still live in poverty despite being employed.

Reich proposes that rather than taxpayers footing this bill, companies should be taxed more if they are paying wages so low that their workers still require public assistance.

By raising taxes on these large firms, it could help offset the costs that taxpayers incur to support these working poor.

Overall, Reich is advocating for higher taxes on big businesses as a way to recoup some of the public subsidies that go to prop up the low wages paid by profitable corporations.

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