7 Burst results for "David Newmark"

"david newmark" Discussed on The Dan Bongino Show

The Dan Bongino Show

05:54 min | 10 months ago

"david newmark" Discussed on The Dan Bongino Show

"You will not regret it. Works really really well. Thanks for the family. Appreciate getting back to the show. All right i'm determined to get these stories. And so if i motor them. Gimme like one of these skip speed. Speed it up buddy again. Democrats no ability to self reflect it all claim to be the party of science and data yet never actually produced science or data. So you may say well. What's the data on their latest. Push fight for fifteen joe a fifteen dollars. An hour minimum wage. I wonder where they develop that slogan the feifer fifty. Well there's three fs. That sounds cool. Some democrat probably qe. It rhymes no. It actually doesn't but it sounds good. So here's an article in the wall street journal where we actually have the science data on raising the minimum wage. So what is it say. Don't worry your liberal friends will not process any of this. So why am i talking about it because you probably have some friends who are democrats and who are saying who may actually process some of this and say. Gosh dan bongino is right. The data does say that the minimum wage hike will destroy some jobs. What's the peace now. I put this in the newsletter today. let me just put a little caveat in there at the wall street. Journal's typically subscription only so they'll get mad at me if you click on it and it says subscription only sometimes make some of the articles free. I took a chance today. The articles this raising the minimum wage will definitely cost jobs. A survey of the economics research shows the likelihood of a substantial reduction in employment by david. Newman folks can can headline to that piece. Get anymore clear about missing something. So david newmark who doesn't strike me as some hard partisan by the way david new mark said i looked at all the data out there and quote. The results are stark across all industries. Seventy nine percent of the studies seventy-nine percent folks at salat for the liberals listening report that minimum wages reduced employment forty six percent of studies. The negative effects of minimum wage was statistically significant. In contrast only twenty one percent of studies found small positive effects minimum wage wages unemployment and only a miniscule four percent of those studies with the evidence statistically significant folks that's called data data a simplistic but useful calculation shows that the odds of nearly eighty percent of studies finding negative employment effects if the true effect is zero is less than one in a million. That's called data numbers science research. Scientific method suggests the hypothesis test test. The hypothesis published the hypothesis. Have other people confirm folks the data's clear. So why are the democrats pumping policy. We know according to the data will cost jobs because they've never gotten to that second life they're still in that. I live the life you learned from. Why are they stuck in the first life. Because they haven't learned anything from their mistakes or the data because they're lost in emotion just lost in emotion on the crisis at the border. We have to help people we do help. People were the most generous country in the world opening the border to people entering the country illegally. And we don't even know where they are is not helping people it screwing up border towns that you don't live it that's not kindness that's being an i'm buzzing myself to go to terrestrial radio where armacost will be joining me. Big announce joe. We'll have to buzz me on the radio there. I'm just kidding. Westwood's freaking out. I will not terrestrial radio stations. I promise you can't data data folks. It matters the data's conclusive they just want minimum wage. Because it sounds cute and they think they can get votes and it helps their union members that support them because a lot of union wages are index to minimum wage. Even though they know it's gonna screw up the job market all right moving on more data more data. I know this is hard folks. Little wonky show at the end today. And i know democrats are scratching their heads. Like oh my gosh. What do i do. I have to actually look at data now. that's crazy. I thought i was the party of science. So joe biden is pushing this dreadful new police reform bill folks and the democrats kinda got screwed over by this because they time this police reform dreaded air quotes bill for the george floyd trial which is now been is on hiatus because of jury selection all kinds of other stuff so the democrats who tried to time it because they're all about tying bills too emotional topics like george floyd trial. They got screwed over because the trials not a big news story right now so democrats don't know what to do. Another article in wall street journal. A police reform crossroads democrats can choose to compromise or continue dividing the country. So what is in this. Police reform bill that the democrats are pushing well. This is one of the worst ideas. I've ever heard in the history of policing i have a little bit of experience in that. I did a few minutes in police departments department secret service couple of days. But i'm not as experienced as kendall delaney. he is an intelligence and law enforcement. Expert had no one's as he does a lot more than i'm sure he spent a lot of time in the streets chase down bad guys and stuff so the wall street journal says listen. This new bill would require police departments to give a racial breakdown of practices like pedestrian. And traffic stops okay. That's interesting you may say again if you're if you're in your first life you haven't reached your second life yet..

kendall delaney joe biden david new mark forty six percent today four percent fifteen seventy-nine percent Democrats david Seventy nine percent dan bongino twenty one percent Westwood david newmark fifty zero less than one in a million george floyd An hour
Minimum Wage Hikes Fuel Higher Pay Growth For Those At The Bottom

NPR's Business Story of the Day

03:40 min | 2 years ago

Minimum Wage Hikes Fuel Higher Pay Growth For Those At The Bottom

"Something unusual is happening in the US. Labor market workers at the bottom of the income ladder. Our finely seeing bigger pay raises than those who are higher up. That is partly because of the tight job. The market with unemployment near a fifty year low businesses have to pay more to attract new workers. Minimum wage though is also play here. Economists say minimum wage hikes at the state and local level. Well are giving a boost to millions of workers here's NPR's Scott horsely. Kista Jelly works a grocery store in Springfield Missouri. She typically works the closing shift noon. Eight or for three to ten PM. I'm a cashier Isis people every day with their groceries when she started almost two years ago jolly made minimum wage. which at the time was seven dollars? Eighty eighty five cents an hour in Missouri. She still making the minimum but thanks to a ballot. Measure passed in two thousand eighteen. That minimum is going up when jolly gets our first paycheck of twenty twenty twenty on Friday. She'll be earning nine forty five an hour. I would hope that it gets better and I think that I'll be better off but I think that it's going to still be a struggle jealous or paycheck. We'll still barely cover her rent and utilities. She relies on food stamps and school lunches to help feed her three children ages. Six eleven and fourteen jollies grateful that Missouri voters approved three additional increases in the minimum wage over the next three years by twenty twenty three to twelve dollars an hour. I've got at least a pecent living wage and then people can pay their bills. They can possibly get a few things on their wants list every month. Like kids need new clothes. or I'm that girl I ran out of Mascara like a month ago. Luxury items such as new socks in Arizona Colorado and Maine. The minimum wage is already twelve dollars an hour. Our the federal minimum has been stuck at seven twenty five an hour for more than a decade. But economists aren't today she says nearly two dozen states gave minimum. Wage workers raised raised on January. First if you're a minimum wage worker in America right now on average you're probably getting paid closer to twelve dollars an hour. That's what they call the effective minimum wage. And today she says those rising minimums are an important factor helping to lift up workers at the bottom of the pay scale. Right now the economy. Oughta me is doing something extraordinary. People at the bottom have actually seen higher wage growth than people at the top and in the middle minimum. Wages aren't the only factor. Today she says low wage workers also have more bargaining power now as employers scrambled to fill job openings. When unemployment's just three and a half percent the patchwork of minimum wages around the country. It does create a sort of natural experiment though for economists trying to measure the effects on low wage workers at least Gould who's the left-leaning Economic Policy Institute. Compared states raised their minimums to those. That didn't no matter how you cut it. The low wage workers are getting a larger wage boost in states that have raised their minimum wage. Gould estimates the higher minimums that took effect this month. Boosted paychecks for nearly seven million workers across the country economist. David Newmark of UC Irvine cautions. However the higher cost for employers may come with trade-offs. You're getting a raise if you keep your job and if you're ours don't change but there's plenty of evidence that there is some job Wasserman. The minimum wages and those workers are worse off newmark acknowledges job loss associated within wage. Hikes is probably less of a problem when unemployment is this low. CASSIA jolly hasn't seen any job cuts at the grocery store where she works. The cashier doubt she'd be getting a raise. Were it not required by the higher minimum. We still need to keep pushing for weird because hopefully people like me will be able to actually make it every month. Jelly says it's a shame when a grocery store worker has to choose between buying food and paying her bills

Missouri Kista Jelly David Newmark Gould United States NPR Springfield Economic Policy Institute Scott Horsely America Wasserman Uc Irvine Twenty Twenty Arizona Maine Colorado
"david newmark" Discussed on WBSM 1420

WBSM 1420

04:49 min | 3 years ago

"david newmark" Discussed on WBSM 1420

"Had. The chapter. Route the said to the minimum wage. Baseball. For you. Fordham support a fascinating. Poor guy. Four. If I just sat there for a few seconds, which is an eternity on TV. Alan krueger. Crooked as a former White House economists under Obama. Oakland. Caused the best suicide. I don't know why. Here's what NBC said about. Headline. Alan Krueger, former White House, economists research minimum wage die by suicide quotes Cooper, wasn't expert on the labor market, and in particular, the impact with the minimum wage his research concluded that a minimum wage are not generally slow hiring many conservative. Critics have argued. Perhaps best known for it's research with David card their nineteen Ninety-three paper found that in the New Jersey. Minimum wage had no idea. Pooch sector compared with the same sector. Just across the state line, Pennsylvania. Nothing thing. The avalanche of criticism that paper received. The Heritage Foundation called it fatally flawed. Mother. Economists could not replicate the results because it turned out for the heart study simply took the phone and called fast food. Owners said did you hire? And they recorded their answers. Other researchers not only contact with the same. Employers would ask the payroll records. When the payroll records were looked at guess what happened. New Jersey's unemployment. Decrease relative to Pennsylvania's which did not have a minimum wage, though, exactly what you would have predicted given the mandated hike in the minimum wage in New Jersey versus no mandated hike next door in Pennsylvania. There were a couple of economists named David Newmark William washer reevaluate the study quote. Estimates on payroll data suggests that the New Jersey minimum wage increase led to a four point six percent decrease in employment in New Jersey, relative to the Pennsylvania control group. In other words, the case study supported the basic economic notion that increasing the cost of hiring a worker by government leads to fewer workers hired. And those who are still hired fewer hours. Just the opposite of what Kluger card said in their paper in BC made. No mention of the criticism broad criticism of this paper. In their story on the death of Alan Krueger. Here's the Heritage Foundation. Call the study quote, fatally flawed. So it led to a four point six decrease in employment, relative to the control in Pennsylvania. I mean, if John lots more gun less crime research. Had been torpedoed like this John Lott wouldn't be able to get a table at fat burger, but this guy Alan Krueger, David card. Do a research paper Obama mentions it Clinton mentioned this refutes emotion that a higher minimum wage will hurt things. No, it didn't it confirmed. It confirmed it. And yet it's still being referred to. This is what we are up against we meaning people that believe in free markets believe in individual responsibility and less government. We're dealing with immediate like NBC does a piece on the death of Alan Krueger never mentioned that his seminal research paper. Was trashed by a number of economists period and did not hold up. Now, there are a whole lot.

Alan krueger New Jersey Pennsylvania Heritage Foundation Obama White House Baseball John Lott Fordham NBC David David Newmark William Oakland Pennsylvania control group David card Kluger Cooper
"david newmark" Discussed on News-Talk 1400 The Patriot

News-Talk 1400 The Patriot

05:10 min | 3 years ago

"david newmark" Discussed on News-Talk 1400 The Patriot

"For crying out loud years ago. I was on the Bill O'Reilly show, and I had written a book and hit a chapter in which I outlined my opposition to the minimum wage law and a rally said your poll to the minimum wage. I said, that's right. He's the guy with a family of four. How's the guy with the family of four going to support a family on a minimum wage salary? And I said what is a guy with minimum wage skills. Doing having a family of four. It looked at if I hit him in the head with a two by four. He just sat there for a few seconds, which is an eternity on TV. Alan Krueger, just died. Cougar is a former White House economists under Obama also advised the Clinton administration. Cause of death suicide don't know why. Here's what NBC said about him. Headline. Alan Krueger, former White House economists who research minimum wage died dead by suicide. Cougar was an expert on the labor market, and in particular, the impact of the minimum wage his research concluded that a higher. Minimum wage did not generally slow hiring as many conservatives. Critics have argued. Chris perhaps best known for it's research with David card. Their nineteen Ninety-three paper found that arise and the New Jersey. Minimum wage had had no effect on employment in the states fast food sector compared with the same sector. Just across the state line in Pennsylvania, close quote. See anything missing. The avalanche of criticism that the paper received. The Heritage Foundation called it fatally flawed. Other economists could not replicate the results because it turned out research for the Kruger card study simply picked up the phone and called fast food owners. Instead, did you hire or not hire? And they recorded their answers. But other researchers not only contact with the same employers. But after payroll records. When the payroll records were looked at guess what happened. New Jersey's unemployment decrease relative to Pennsylvania's which did not have a minimum wage law. Exactly what you would have predicted given the mandated hike in the minimum wage in New Jersey versus no mandated hike next door in Pennsylvania. There were a couple of economists named David Newmark William washer reevaluate the study quote. Estimates on payroll data suggests that the New Jersey minimum wage increase led to a four point six percent decrease employment in New Jersey, relative to the Pennsylvania control group. In other words, the case study supported the basic economic notion that increasing the cost of hiring a worker vibe government leads to fewer workers hired and those who are still hired fewer hours. Just the opposite of what Kluger card said in their paper in BC made. No mention of the criticism broad criticism of this paper. In their story on the death of Alan Krueger. Here's the Heritage Foundation. Call the study quote, fatally flawed. So it led to a four point six decrease in employment, relative to the control group in Pennsylvania. I mean, if John lots more gun less crime research. Had been torpedoed like this John Lott wouldn't be able to get a table at fat burger, but this guy Alan Krueger, David card. Do a research paper. Obama mentioned it mentions. It this refutes the notion that a higher minimum wage will hurt things. No, it didn't it confirmed. It confirmed it and yet it's still being referred to. This is what we are up against we meaning people that believe in free markets believe in individual responsibility and less government. We're dealing with a media like NBC does a gush piece on the death of Alan Krueger never mentioned that his seminal research paper was trashed by a number of economists. When it with period you'd and did not hold up. Now, there are a whole lot of tax relief firms out there. There's only one that I really trust and recommend. It's rush tax resolution. Don't be fooled. There are others out there who say they can help take your money and don't do anything. And then they have a ton of negative youth because of it rush tax.

Alan Krueger New Jersey Pennsylvania Obama Cougar Heritage Foundation Pennsylvania control group NBC John Lott David Newmark William David David card White House Kruger Kluger Chris Clinton administration
"david newmark" Discussed on 860AM The Answer

860AM The Answer

05:20 min | 3 years ago

"david newmark" Discussed on 860AM The Answer

"This fight. I believe that is. For crying out loud years ago. I was on the Bill O'Reilly show, and I had written a book and hit a chapter in which I outlined my opposition to the minimum wage law in a rally said you're opposed to the minimum wage. I said, that's right. He's a guy with a family of four. How's the guy with the family four going to support a family on a minimum wage salary? And I said what is the guy with minimum wage skills? Doing having family of four. And it looked hit him in the head with a two by four. He just sat there for a few seconds, which is an eternity on TV. Alan Krueger, just. Cougar is a former White House communists under Obama also advised. The Clinton administration. Cause of death suicide don't know why. Here's what NBC said about him. Headline. Alan Krueger, former White House, economists who research minimum wage died dead by suicide quote, cougar was an expert on the labor market, and in particular, the impact of the minimum wage his research concluded that a higher. Minimum wage did not generally slow hiring as many conservatives. Critics have argued Kruger's perhaps best known for it's research with David card. Their nineteen Ninety-three paper found that arise and the New Jersey. Minimum wage had had no effect on employment in the states fast food sector compared with the same sector just across the state line in Pennsylvania, close ward. Nothing missing. The avalanche of criticism that paper received. The Heritage Foundation called it fatally flawed. Other economists could not replicate the results because it turned out researchers for the Kruger card study simply picked up the phone and called fast food owners. Instead, did you hire not hire. And they recorded their answers. But other researchers not only contact with the same employers but for payroll records. When the payroll records were looked at guess what happened. New Jersey's unemployment. Decrease relative to Pennsylvania's which did not have a minimum wage law. Exactly what you would have predicted given the mandated hike in the minimum wage in New Jersey versus no mandated hike next door in Pennsylvania. There were a couple of economists named David Newmark William washer reevaluate the study quote. Estimates on payroll data suggests that the New Jersey minimum wage increase led to a four point six percent decrease in employment in New Jersey, relative to the Pennsylvania control group. In other words, the case study supported the basic economic notion that increasing the cost of hiring a worker vibe government leads to fewer workers hired. And those who are still hired fewer hours. Just the opposite of what cougar card said in their paper in BC made. No mention of the criticism broad criticism of this paper. In their story on the death of Alan Krueger. Here's the Heritage Foundation. Call the study quote, fatally flawed. So it led to a four point six decrease in employment, relative to the control group in Pennsylvania. I mean, if John lots more gun, let's crime research. Had been torpedoed like this John Lott wouldn't be able to get a table at fat burger, but this guy Alan Krueger, David card. Do a research paper Obama mentions it Clinton mentions. It this refutes the notion that a higher minimum wage will hurt things. No, it didn't it confirmed. It confirmed it and yet it's still being referred to. This is what we are up against we meaning people that believe in free markets believe in individual responsibility and less government. We're dealing with immediate like NBC does a piece on the death of Alan Krueger never mentioned that his seminal research paper. Was trashed by a number of economists period. You'd and did not hold up. Now, there are a whole lot of tax relief firms out there. There's only one that I really trust and recommend. It's rush tax resolution. Don't be fooled. There are others out there who say they can help take your money and don't do anything. And then they have a ton of negative reviews because of it rush tax.

Alan Krueger New Jersey Cougar Pennsylvania Obama Heritage Foundation Pennsylvania control group Kruger John Lott David Newmark William Clinton administration David NBC David card White House BC
"david newmark" Discussed on 1170 The Answer

1170 The Answer

05:16 min | 3 years ago

"david newmark" Discussed on 1170 The Answer

"I believe that is. For crying out loud. Years ago. I was on the Bill O'Reilly show, and I had written a book, and I had a chapter in which I outlined my opposition to the minimum wage law. In a rally said your poll to the minimum wage. That's right. He said what's a guy with a family of four? How's the guy with the family of four going to support a family on a minimum wage salary? And I said what is a guy with minimum wage skills. Doing having a family of four. And it looked as if I hit him in the head with a two by four. He just sat there for a few seconds, which is an eternity on TV. Alan Krueger, just died. Cougar is a former White House economists under Obama also advised the Clinton administration. Cause of death suicide don't know why. Here's what NBC said about him. Headline. Alan Krueger, former White House economists who research minimum wage died dead by suicide Krueger was an expert on the labor market. And in particular, the impact of the minimum wage his research concluded that a higher. Minimum wage did not generally slow hiring as many conservatives. Critics have argued. Kruger's perhaps best known for it's research with David card. Nineteen Ninety-three paper found that a ride in the New Jersey. Minimum wage had had no effect on employment in the states fast food sector compared with the same sector just across the state line in Pennsylvania, close ward. Anything missing. The avalanche of criticism that the paper received. The Heritage Foundation called it fatally flawed. Other economists could not replicate the results because it turned out research it for the cougar card study simply picked up the phone and called fast food owners. Instead, did you hire or not hire? And they recorded their answers. But other researchers not only contact with the same employers. But after payroll records. When the payroll records were looked at guess what happened. New Jersey's unemployment. Decrease relative to Pennsylvania's which did not have a minimum wage law. Exactly what you would have predicted given the mandated hike in the minimum wage, New Jersey versus no mandated hike next door in Pennsylvania. There were a couple of economists named David Newmark will you wash reevaluate? The study quote. Estimates on payroll data suggests that the New Jersey minimum wage increase led to a four point six percent decrease in employment in New Jersey, relative to the Pennsylvania control group. In other words, the case study supported the basic economic notion that increasing the cost of hiring a worker. Vijay government leads to fewer workers hired and those who are still hired fewer hours. Just the opposite of what Kluger card said in their paper in BC made. No mention of the criticism broad criticism of this paper. In their story on the death of Alan Krueger. Here's the Heritage Foundation. Call the study quote, fatally flawed. So it led to a four point six decrease employment. Relative to the control group in Pennsylvania. I mean, if John lots more gun less crime research. Had been torpedoed like this John Lott wouldn't be able to get a table at fat burger, but this guy Alan cougar, David card. Do a research paper Obama mentions it mentions. It this refutes the notion that a higher minimum wage will hurt things. No, it didn't it confirmed. It confirmed it and yet it's still being referred to. This is what we are up against we meaning people that believe in free markets believe an individual responsibility and less government. We're dealing with immediate like NBC does a piece on the death of Alan Krueger never mentioned that his seminal research paper. Was trashed by a number of economists period. You and did not hold up. Now, there are a whole lot of tax relief firms out there. There's only one that I really trust and recommend. It's rush tax resolution. Don't be fooled. There are others out there who say they can help take your money and don't do anything. And then they have a ton of negative reviews because of it rush tax.

Alan Krueger New Jersey Pennsylvania Obama Heritage Foundation Pennsylvania control group John Lott Cougar Alan cougar David Newmark David NBC Kruger David card Kluger Clinton administration BC
"david newmark" Discussed on C-SPAN Radio

C-SPAN Radio

11:26 min | 3 years ago

"david newmark" Discussed on C-SPAN Radio

"People jobs. Those would range. Maximum credit that you would be eligible for the proposal for the relocation would be just over six thousand dollars. So if. Hundred thousand long-term unemployed would take it up. Then we would be looking at roughly around a billion dollar allocation for that. And which is tiny compared to us Medicare, for example. If we look at the the commuters credit it would be between a half billion and two billion dollars for this temporary commuters. Credit the rural broadband there is a puzzle put out to the Brookings Institution to about a year ago proposing about a twenty billion dollar investment in rural broadband, and that's that seems to be about the right number for for that for that program because that's a major infrastructure change in some of these. Hard to build community. So. Oh, it ranges from relatively small investments. Too much more sizable financial investments. You have an annual policy options. They're just last question before we move on. Which do you think would have the greatest bang for the buck? Wow. That's tough. All right. So one thing I have my talking points here that it didn't use. So one thing that that I before I answer your question. We are in DC, so it's deflect. So so one thing that I wanna make make clear policy proposal is is that what I'm suggesting in my agenda today is what what we might call actively remark policy for the current pocket per current population of adults, okay, really to address the stomach poverty and rule. America. It requires a massive investment in our children to education, pre tastes through through higher Ed which will lead to the discussion in the next panel and also health, and so it's important to recognize this current active labour market policy. What do I think would be the most important long-term investment of these active labour market policies? I think the rule broadband is the most important one because I think that there is just. Too many miss opera -tunities right now and the current marketplace that rule America's just not being able to participate. Thank you. Okay. Let's say David. So for those of you who don't know David academic research. He has written numerous papers over the years and all sorts of of wage and hiring credits and labor market policies. And for this volume David's proposed a higher wages tax credits. Okay. David tell us what issues are you trying to address with this proposal David Newmark from university of California Irvine. Well. Some of you may know minimum wages are going up, and maybe going up a lot higher. My my colleagues like to tease me that I'm clearly losing this battle to respond. They would only be higher. If not for my research. But the point is. Higher. Minimum wages are popular with the voters the popular with politicians, perhaps because of the first point that the popular voters, but also perhaps because they can appear to be doing something about inequality without having to raise taxes, which is part of the issue. I'm trying to address. I also am convinced. There is debate about this, of course. But I'm convinced that. Minimum wage is clearly deliver some benefits some workers earn higher wages. Obviously there are some adverse effects on employment and hours worked some potentially longer term adverse effects, obviously. Those of you who fought literature know that not everybody agrees. But I think almost all economists of every strike are at least uncomfortable with some of the high minimum wages. We're talking about at least as supply to some of the lower wage areas of the country minimum wage that might cover forty forty five even higher percentage of the workforce. So the idea behind this policy is to kind of recognize the momentum towards minimum wages, and and rather than to say don't do it to say, how might me how might we ameliorate this policy to make it somewhat more effective, reduce some of the adverse effects, and then a bit more pie in the sky, perhaps rebalanced some sense the discussion about redistribution policies. Okay. So this is a really serve I think creative and out of the box proposal. So outline for us. How does it? Okay. So the basic idea, I I sort of loved the challenge of like it says in the sign with bipartisan policies, I'm I'm pegged as a San Francisco liberal by some folks anti-worker conservative by others. I'm probably more the first on the second, actually. But I do I actually really try very hard. Not just for my homework here. But in general to think about policies that might attract support from both sides why because they're more likely to get adopted. I think that's that's that's important. That's we're trying to actually make better policy. Not just a couple of ideas that whenever get an active. So the idea here, it's actually it's way simpler than yours. The idea simply is too. There's a lot. There's a lot of details. But but the basic idea is and this can be done at any level of jurisdiction, but what a jurisdiction passes a minimum wage increase. You put in place a hiring credit that offsets roughly half the increase in essentially calculation of kind of the average wage of those were paid below the minimum wage. What's the increase up to the the new minimum wage, and you do that because you have to worry about what you do for new workers. But essentially share half the cost of the increase between the employers who are hiring these workers and the tax payers who are through their elected representatives saying you should pay this higher wage. Aside from that. There's really only two other little details at one is. How do you? How do you work this out? So that. With inflation as the minimum wage becomes less relevant to the wage. Eddie roads. That's the proposal. How do you structure it? So that if a jurisdiction raised its minimum wage raise two years later, how do you account for that all that's taken account of? It's actually not that complicated. The other thing I suggest is that we consider. Having this credit only for people with high school education, and that's in part to improve the targeting a little bit. We we know that the minimum wage doesn't target low income people very, well, obviously does to some extent, but it's a pretty blunt instrument. There's a lot of minimum wage workers in high income families. It's hard. It's really hard. It's high policy to family income because he administrative burden of doing that is probably overwhelming. But at least if you tied to less educated people, you're more likely to be hitting families with somewhat lower income and in the sorta simulations and cost estimates. We do you actually see that. And let me just point the last point is so much about the details proposal up the point. I was making about policy discussion. I think right now, we think about we know there's rising inequality. We've heard about it. We know the facts both both parties talk about it different solutions. Obviously politicians are clearly trying to respond to the inequality problem. We have we have a number of possible tools. We might use the minimum wage, obviously has an intuitive appeal. It certainly reduces inequality of wages of working people by construction it has to do that. But the attraction of it. I think for policymakers, and perhaps the public is it comes with what seems like zero price, but it isn't. So you're going to ask you the follow up question. What does this cost? I'm going to say it doesn't necessarily cost anymore because we're paying for it anyways. But I do think what what a higher minimum wage would what the minimum wage tax credit for a higher. Minimum wage would do or higher wages tax credit as we've called. It is is building a recognition that this is like any other redistribution of policy, and it has a cost, and we need to think about what the cost is. And it we really think it's better than other policies on the merits. We should be willing to pay for it. And if having actually now more sensible accounting of what policies ABC cost we decided other policies are better. Well, that's all for the good. So still. You've essentially cleverly attached a price tag for the local or state governments that want to raise their minimum wage. So a cynic might say you've shifted the cost Ferdinand from the businesses to the government and in so doing this would contribute to sort of a stalling of minimum wage legislation. Right, right. So I'm sensitive to that criticism. Throwing sand in the wheels. I think I couple of things first of all we can't let shift costs the government. We can shift costs to the taxpayers, and I think that's part of the potential virtually right because right now, I mean think about what we're trying to do with the minimum wage, we're trying to get more money into the hands of low income people, and we know already the minimum wage does not great job of that. But it does that to some extent and like other redistribution policies, we'd like to take that money presumably from those who make less. Regional policy does. And we're going gonna do it. That's the sensible way to do it. Well, the minimum wage doesn't really do that as it stands now. Right. The the guy who owns a laundromat pays the minimum wage, the investment banker doesn't I don't think the guys were on the laundromats are the ones who have who have who have top of the income distribution. Now, obviously, there are corporations out there also making a lot of money that hire a lot of low wage workers. But currently a lot of high income tax payers are not on the book for this at all. And I think in that sense while it might throw some sand of the wheels. It does it does redistribution the way it should be done. I would also suggest that. A lot of the opposition to higher minimum wages does come from businesses. And this would actually lower the price of businesses, and in that sense, it might get more by because it's now become sort of a shared burden to help people at the bottom that shared between the businesses who hire them and the government and that could actually work at absent direct economics. Professor David new Mark today at the Aspen institute. Right. So so what are the things? I it seems your proposal would achieve is. Ameliorating the potential adverse employment effects of a higher. Minimum wage. Why why did you not just propose something more direct like a hiring tax credit? Well, some sense depending on how it's structured and I read the proposal by Jason fill which is like a hiring tax credit conditional on paying a certain wage. I mean, that's not at the end of the day that difference. Right. A flat out hiring tax credit. Doesn't it could work the same way or couldn't depending on how you do it. The the higher wage tax credit. That's based on the minimum wage will respond to something that is essentially a distortion introduced by the government and trying to ameliorate the effects while still achieving some of the goals outright hiring tax credits. I have some sympathy for them, but they're also hard to structure. Well, I try to I try to build into this. I think something that will really target the people whose prices and pushed up and try to make the effects and try to do less to have the problem that many higher credits have which is just waiting falls to a lot of employers for hiring. They would have done anyways. Okay. Real quick..

David Newmark Brookings Institution America San Francisco investment banker university of California Irvin ABC Eddie Jason Professor David Ferdinand Aspen institute twenty billion dollar six thousand dollars two billion dollars billion dollar