Tax Increase to Ease Inflation?

The idea of raising taxes on the extremely wealthy and large businesses to help control inflation has been proposed. Would this really help and is controlling inflation the business of Congress or the Fed? Howard Gleckman for Forbes.com suggests that a tax increase on middle income would provide the most benefit but would not be seen as favorable. He also points to the fact that an inflation busting tax increase imposed on working families could add to their hardship and would be opposed by lawmakers on both sides.

Overtime and Fair Pay

Ever sat at work on a weekend or late in the evening wondering why you didn’t qualify for overtime? Salary threshold rules have not been adjusted for inflation since 1975 and currently reflect a maximum amount of $23,660 per year. The new proposed changes to the law would raise this limit to $47,476 per year, allowing a larger segment of the salaried population to qualify for paid overtime. As this legislation is coming at the end of President Obama’s term, it remains to be seen how it will fare with a new administration, but for the moment this is one more step toward fair pay for a whole new set of employees.

Making Overtime Fair Again