One of the most common arguments in favor of “progressive” economic programs, including a higher minimum wage, higher taxes on capital and labor, broader labor market regulation, and expanded overtime pay, is that workers have become more productive but have not received a corresponding rise in wages.
Once again, congressional leaders are telling Americans to do as they say, not as they do.
The Fair Minimum Wage Act would raise the minimum wage to $10.10 an hour over two years and then index the rate to inflation. The act is sponsored by Sen. Tom Harkin, D-Iowa, and Rep. George Miller, D-Calif.
A new National Bureau of Economic Research working paper finds that, out of several possible immigration reforms, increasing the legalization rate for immigrants would create the most jobs. Conversely, deporting additional immigrants would stymie employment growth.
Over the past seven years, the civilian labor force participation rate has steadily declined. As of February, the rate stood at 63.0 percent, the same level as 1978 (before the economic boom and movement of women into the labor force during the 1980s).
The labor force decline
Reasonable people might assume that legislators who support raising the federal minimum wage would pay their employees the current minimum wage of $7.25 or their proposed wage of $10.10. But, once again, congressional leaders are telling Americans to do as they say
On March 3, 2014 House Budget Committee Chairman Paul Ryan released a report that was essentially an extensive literature survey on the efficacy of federal anti-poverty programs. The report has stimulated discussion, both favorable and unfavorable, as it should and as was intended.
The intuition that if something is bad it used to be better is completely understandable, but in the case of social mobility, it is probably wrong. Even before a deservedly lauded study by
On February 4, the Congressional Budget Office (CBO) released a report that instantly became a focus of intense controversy. The report found that the Affordable Care Act (ACA or “Obamacare”) would reduce US employment by the equivalent of 2 million full
Last week, we asked e21 readers about their preferred level of the minimum wage. ”None, it should left to the states” was the overwhelming favorite and received 60 percent of the vote. The next most popular choice was “$7.25, the current rate