Microeconomics IGCSE

3.3 Workers

Workers get paid a wage. The worker then pays income tax (progressive) on this wage and what is left is called the disposable income. There are two reasons that people work: the financial and non-financial benefits. Financial benefits are anything to do with money and non-financial benefits are things like fringe benefits (a company car perhaps)

3.3 Workers.pptx

3.3 – WorkersLabour Market Labourers need wages to satisfy their wants and needs. Payments for labour: Time-rate wage: wage given based on the no. of hours the employee has worked. Overtime wages are given to w…

Examiner’s comments - labour

Taxing the Rich | EconofactIn recent decades, gains in national income have failed to reach many Americans due to increasing income inequality; countering such trends requires increasing the progressivity of our tax system. Proposals that seek to reduce tax avoidance and harmonize the tax treatment of different types of income are likely to raise more revenue at lower rates than more narrow proposals. Many new proposals provide a useful starting point, but they all need careful consideration in order to be ready for implementation. It is also important to remember that economic inequality is not just a “top end” problem. The tax system can also usefully help those at the bottom of the income distribution who have experienced stagnant wage growth in recent decades. Proposals to expand the earned income tax credit do just that, by subsidizing the wages of low-income workers. Pairing an expansion of the earned income tax credit with careful, efficient methods of taxing the rich would tackle economic inequality from both ends. Editor\'s note: This is an updated version of a post originally published on July 9, 2019. Kimberly Clausing is author of \

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