Either the standard deduction should be $31,200, or the minimum wage should be $5.70

Published July 25, 2018 12:30pm ET



The underlying argument for a minimum wage increase is that America is a rich country and people who go out to work should gain a minimum standard of living by doing so. We can have lovely arguments about how minimum that standard should be, but that is still the base logic.

The argument in favor of there being a standard deduction is that people only start paying tax to run government and society once they’ve gained enough income to support a minimum standard of living. Again, we can argue about how minimum that should be, but it is still the base logic.

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