The current minimum wage in the United States of America is $5.15 per hour and some believe it should be much higher. In fact the city of Chicago wanted to mandate that the employment wages could not go less than $10 per hour and some agreed. Recently the United States Congress and the United States Senate voted on a minimum-wage bill, which they did not pass.
Now each side of the aisle is blaming the other side for not allowing the minimum-wage law to pass. However from a free market standpoint the minimum wage should be zero dollars per hour. Yes, you heard me right the minimum wage should be zero. In other words there should be no minimum-wage law and that is the truth about minimum wage. With unemployment rates hovering between 4.6% and 5% we simply do not need a minimum-wage law.
If an employer does not pay the minimum wage in those employees will find work elsewhere and therefore competition will dictate price. Those employers who pay more dollars per hour will end up with the best workers and those that don’t will get the worst workers. Smart companies will want the best workers and therefore pay the most money and that solves that problem we do not need any more laws. Makes sense right? Now then consider all this in 2006 when discussing minimum wage theory.
The Texas law was strange in that while version was obligatory, there was no punishment for not rendering. Accordingly, numerous property proprietors did not render since it was not material, was not helpful or would drastically build their assessment obligation. For some entrepreneurs, the estimation of the individual property and the related property duties are humble and not a material issue for the business.
Boss appraisers at focal evaluation regions and assessment substances have for quite some time been worried that a material measure of business individual property is not being saddled. There is a sensible worry that if business individual property proprietors are not being exhausted fairly with genuine property proprietors, the weight of tax assessment is moved from proprietors of individual property to proprietors of genuine property.
Driving force for Change
A few components consolidated to make business individual property interpretation a hotly debated issue. In Robinson versus Spending Rent-a-Car Systems, a 2001 interests court choice, the court cleared up that the central appraiser may sue to constrain a business individual property proprietor to render BPP. Notwithstanding the goal of boss appraisers to fairly spread the weight of property tax assessment, financial setbacks at numerous city, district and school substances and also at the state level have raised the administration’s have to guarantee it is getting all due income in light of current duty laws.
In spite of the fact that Robinson versus Financial plan enabled boss appraisers to sue property proprietors who did not render, this was a to a great extent inadmissible cure because of the money related expenses and political disgrace of boss appraisers suing vast quantities of citizens. The other conceivable arrangement was for boss appraisers to “figure high” on evaluated values with a specific end goal to successfully drive business individual property proprietors to give data. Luckily, couple of boss appraisers have picked this alternative.