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Instead of raising the minimum wage, I'm a proponent of increasing the Earned Income Tax Credit. https://en.wikipedia.org/wiki/Earned_Income_Tax_Credit https://
by pkaler 13y ago
Instead of raising the minimum wage, I'm a proponent of increasing the Earned Income Tax Credit.
https://en.wikipedia.org/wiki/Earned_Income_Tax_Credit https://en.wikipedia.org/wiki/Earned_Income_Tax_Credit
Rather than paying people more to flip burgers, I think it's better policy to top them off with cash and incentivize them to earn more money by getting better jobs.
The EIC is a form of Negative Income Tax that was originated by Milton Friedman.
http://www.econlib.org/library/Enc1/NegativeIncomeTax.html http://www.econlib.org/library/Enc1/NegativeIncomeTax.html
- dragonwriter 13y ago> Instead of raising the minimum wage, I'm a proponent of increasing the Earned Income Tax Credit. https://en.wikipedia.org/wiki/Earned_Income_Tax_Credit https://en.wikipedia.org/wiki/Earned_Income_Tax_Credit Adding a state-level EIC would be considerably more administratively complex for California than changing the level of the existing minimum wage -- which, even granting for the sake of argument that such an approach would be desirable ignoring administrative costs, might strongly disfavor that approach. > The EIC is a form of Negative Income Tax No, its not. The EIC is a means-tested social welfare program that has a benefit curve inconsistent with a negative income tax (particularly, it has ranges where more qualifying income increases the beneft, and ranges where it decreases the benefit, whereas the subsidy from a negative income tax is strictly non-increasing with additional income.)