More than wages for the working poor
- May 10, 2012
- David Neumark, economics Chancellor’s Professor and Center for Economics & Public Policy director, is quoted by the Times Union May 9, 2012
From the Times Union:
Unlike a minimum wage increase, the EITC (Earned Income Tax Credit) provides income support only to workers who really need it - without leading to job loss, deterring hiring or raising the cost of labor across the board. By contrast, based on a comprehensive analysis of minimum wage studies, economists David Neumark of the University of California at Irvine and William Wascher of the Federal Reserve Board concluded that a higher minimum wage "neither helps low-income families or reduces poverty." They found that the EITC "subsidizes earnings for low-income working families and creates incentives for employment among families with no workers - pursuing much the same goals as suggested by the rhetoric, if not the reality of minimum wages."
For the full story, please visit http://www.timesunion.com/opinion/article/More-than-wages-for-the-workin....
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