More About Jared Bernstein
The system tends to offer up minimum wage increases that it can absorb without distortions.
Analysis of the historical record shows that increasing the minimum wage has its intended effect of raising the earnings of low-wage workers who need the raise without harming their employment prospects.
Ive always thought the national minimum wage is a lot more important than most people tend to think.
Which helps low-income people the mostthe minimum wage or the Earned Income Tax Credit? Its a false choice. Together, these two programs balance the social cost of low-wage work between taxpayers and low-wage employers.