put the working poor into the highest tax bracket!
ha, flat tax.
heh
Actually poster that is not to far off.
If they raise the minimum wage to $9 or $10 an hour but do not adjust the tax tables then more lower income people pay taxes. Couple that with a reduction in the work week to increase over time and suddenly a lot more people become tax payers
Of course inflation rises but then the low income people simply ask the government for help which because it is now taxing a greater percentage of the population it can give.
In a sense so tax reforms could go for this as it is a way to spread the tax base to the stupid. If done as a one time deal it would effectively debase the currency which would then stabilize at lower level. So $10 an hour would equal $.50 an hour before but now the $.50 an hour workers would pay income tax.
But I doubt Obama is smart enough to have figured that out