Why Minimum Wage Increases Don't Help..

"There is only one way that leads to an improvement of the standard of living for the wage-earning masses, viz., the increase in the amount of capital invested. All other methods, however popular they may be, are not only futile, but are actually detrimental to the well-being of those they allegedly want to benefit." - Ludwig Von Mises (Austrian economist) in "Planning for Freedom"

No matter how much the government or unions attempt to raise wages, their efforts will be futile until the market supports such raises. Artificial wage raises (ie. wage raises not supported by actual market value) will always be evened off by layoffs and other factors.

Income Tax and Entrepreneurship in Britian

"Especially in the British context, mention should be made on the subtle but pervasive and harmful effect which high marginal income taxes cannot fail to have on entrepreneurial incentives. There can be little incentive to be alert to opportunities the gain from which will accrue to unknown others decided by the government. Something of a vicious cycle may indeed be noticed. That over one-quarter of British GNP is channelled directly through government is responsible for the high income-tax rates which sap the incentive to notice new opportunities--providing in turn fuel for the critics who point to the failure of the market to achieve prosperity, etc." - S.C. Littlechild in "The Fallacy of the Mixed Economy" (1978)