We must do what we can to solve the tax inequality by closing the many tax loopholes that largely benefit the wealthy. According to the head of National Economic Council Larry Summers " (Summers)." This concept is unfair to the middle class, the rich are taking advantage of a system in a way that only they can. By getting rid of these loopholes it would in result it would keep money circulating instead of having all of the money go towards the richest people.
The minimum wage of the past was held to a much stronger standard and provided a lot more buying power than it does today. The minimum wage in Pennsylvania right now is just a measly $7.25. That amount of money barely covers the ability to pay for gas in 2014. Despite the growing cost of living Congress has continued to fail to correctly adjust for inflation over time. According to Craig K. Elwell who is a Specialist in Macroeconomic Policy "The minimum wage of $1.60 an hour in 1968 would be $10.86 today when adjusted for inflation." After the terrible recession that is still being felt throughout the nation the main goal is to get economies moving again while helping working families to make ends meet. Raising the minimum wage is a key in rebuilding our economy. By boosting pay in lower wage jobs that more families are dependent on than ever, the consumer spending that powers our economy and that local businesses need in order to grow will be restored. The question that must be asked is simple does $7.25 an hour which translates to $15,080 for a full time worker enough to make ends meet. When you look at the cost of living in an area like Pennsylvania $15,080 a year simply does not cut it. Despite the stereo type of teens being the majority affected by low wage the truth is quite the opposite. According to Census data by the Economic Policy Institute "Adults over the age of 20 make up 88 percent of all workers who would receive a raise if the federal minimum wage were raised.