According to one study, a top marginal tax rate on individual incomes of 28% as proposed by Mr. Romney, compared with Mr. Obama's proposed top marginal rate of 39.6%, would increase the wage bill of noncorporate businesses by over 6%, raise investment by 10%, and push business receipts up by 16%.

WSJ: Hassett and Hubbard: Romney vs. Obama on Corporate Tax Reform

The Congressional Budget Office estimates that the rate of unemployment below which wage pressure will tend to increase inflation is 5.8%.

ECONOMIST: The labour market

For instance, with assistance of rapid increase in wage rates, expected interest rate liberalization and further reforms, China is probably close to a turning point when income distribution switches from deterioration to improvement.

FORBES: What Could Derail A Middle Class China?