Monday, December 15, 2014

Monetary

Minimum Wage:
While theoretically supporting the raise of minimum wage sounds intriguing, realistically it is inevitably harmful to the delicate economy we have. The undeniable fact is that over half of the minimum wage workforce is between the ages of 16-24, a quarter which are teenagers, and nearly one-third dropped out of high school. They are not the single mothers working to support three children rather they are teenagers and students working predominately entry-level jobs, a lot which are part time. Instead of raising the minimum wage which could lead to detrimental inflation, we need to promote means of higher education (i.e. Colleges and Trade Schools) to help our fellow Americans realize and achieve their potential for success. 


2015 Federal Budget:
Category:                                Percent:
Defense                                    22%
Education                                 5%
Health Care                              24%
Welfare                                     8%
Protection*                                 3%
Transportation                            3%
General Government                 1%
Other Spending**                        4%
Interest                                       5%
Pensions                                   25%
*Protection includes funds specifically intended for police training.
**Other spending includes research, fuel, energy, waste management and water supply.
This budget will cut spending by $150 billion in order to combat the trend of debt.
  • Categories that will have increased spending are shown shown in green.
  • Categories that will have decreased spending are shown in red.
  • Categories that are staying the same are shown in white.

Taxes:
Click to view current tax bracket:
http://www.bankrate.com/finance/taxes/tax-brackets.aspx

The existing federal tax code is unnecessarily complicated and unfairly weighted. Since we have proposed to decrease federal spending by 7.5%, we have also decided to slightly lower taxes overall and implement a flat tax. A flat tax is defined as a “tax on household income, regardless of income level, at a uniform rate.” By lowering taxes and implementing a flat tax, we are eliminating a tax code that picks “winners and losers”; Americans should be rewarded for their hard work. On another note, higher taxes slow economic growth and make us less competitive in the global market. Our proposal is a 22.5% flat tax for all economic brackets in order to make the tax code simpler, give everyone an equal tax percentage, and grant everyone the opportunity to build their own America by rewarding them for their hard work. 

Women in the Workplace:
100% of the work but only 78% of the pay: does that seem fair? This is the battle most women face who have a year round job. In a 2013 study of men’s versus women’s salaries, they found the average female employee makes $37,791 while her male counterpart makes $49,398. The most disappointing fact of all is no amount of education or extra training can remedy this tragedy. Studies show even if a woman has a higher level of mastery, is more qualified for a job, and/or graduates with a higher GPA, men will still be compensated more than their female counterparts. Although we have come a long way since 1979 when women were only making 62.1% of what men made, we still have a huge gap to close. The Equal Pay Act of 1963 is supposed to combat the gender gap but obviously it has not done a great job. The Equal Pay Act states “men and women are required to be given equal pay for equal work in the same establishment. The jobs need not be identical but they must be substantially equal”.  The Equal Pay Act is not living up to its title. For example, in Washington DC women make 91% of what men make but in Louisiana women only make 66% of what men make. The glass ceiling must be shattered; it is unacceptable and ridiculous to let this injustice continue. We need to reward women for the hard work they do for our great nation and give them an equal opportunity in the workplace. We believe a business should be able to operate on its own with limited government interference, but we also believe in equality. If women do 100% of the work men do, they should make 100% of the salary men do. We strive to give everyone an opportunity to build their own America and we want women to have an equal opportunity; it’s time to make a change. 

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