March 27, 2013. An article points out the faults of the new minimum wage tax credit.
The left-leaning Fiscal Policy Institute, which championed the minimum wage as a boost to the economy and employment, says the tax credit is “ill-conceived and poorly drafted.”
The institute said the tax credit has no cap, doesn’t require employers to disclose how much they receive, and does little to safeguard workers older than 19 who might be fired so employers can hire subsidized teen workers. The credit is also available to multinational corporations such as Wal-mart and McDonald’s, the institute says.