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” — Robert Reich

 

 

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.

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 (@RBReich) February 28, 2021

Lawrence Lessig: Innovators Earn Success

Posted by admin on Sunday, September 13, 2015

Lawrence Lessig Money Quote saying Entrepreneurs don’t succeed because they paid lobbyists to secure subsidies or tax shelters, but by earning it. Lawrence Lessig said:
 

 

“Entrepreneurs succeed by working harder. By competing better. By creating more. They succeeded by innovating, not by hiring lobbyists to get them a special tax favor. Not by paying Congressmen to get a special subsidy. Not by begging Congress for corporate welfare, but by making money the old fashioned way: by earning it” — Lawrence Lessig

 

 

Lessig emphasizes the importance of innovation over hiring lobbyists or paying Congressmen because he believes that entrepreneurs succeed by earning their success through hard work, competition, and creation, rather than relying on special favors or tax breaks.

He values the old-fashioned way of earning money through innovation and competition, rather than through political influence and corporate welfare.