Increase in Wage Base: Inevitable Result of Growing Wage Inequality
As the world’s premier investment manager and financial market journalist, it is clear to me that the recent trend of growing wage inequality has had a significant impact on the share of wages subject to taxation. This decline in taxable wages is unsustainable, and as a result, an increase in the wage base is almost inevitable.
The implications of this shift in the wage base are far-reaching and should not be overlooked. For the average person, this means that more of their income will be subject to taxation, potentially leading to higher tax bills. Additionally, businesses may face increased payroll costs, which could impact their bottom line.
In conclusion, the increase in the wage base is a direct result of growing wage inequality and is a trend that is likely to continue in the coming years. It is important for individuals and businesses alike to be aware of these changes and to plan accordingly for any potential financial implications.