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Raising the Minimum Wage for Working Men and Women in California and the Rest of America

Inequality, the Minimum Wage -- and Reality

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Take the Earned Income Tax Credit, a concept championed to some degree by economists such as Milton Friedman and F.A. Hayek (though often with caveats, including that such a policy should replace other “in-kind” welfare benefits). An early version of the EITC was created under President Ford, and it was expanded toward the policy we recognize today under President Reagan. The growth of the EITC more than makes up for the stagnation in the minimum wage, and it’s a better way to accomplish the same goal because it targets those families that truly need it, and not everyone who makes the minimum wage. (Teenagers from middle class families who work part-time jobs make up a sizable portion of minimum-wage earners.)
• Category: National • Tags: Kyle Wingfield