It seems to me that there are two questions: 1. Should the the aggregate of the minimum wage and the earned income tax credit add up to a living wage? Answer: yes. 2. what is the right mix and balance between raising the minimum wage (which will, if it is raised high enough, diminish the total number of jobs) and increasing the earned income tax credit (which will, once we are away from the zero lower bound in interest rates, require raising taxes somewhere in the system)? The minimum wage should not be considered in isolation.…
Wednesday, October 7, 2015
Brad DeLong — Must-Read: Cathy O’Neal: The Fight for 15
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