tag:blogger.com,1999:blog-4509173218981631666.post1291205515016742745..comments2023-11-05T07:47:39.708-05:00Comments on The Blog of Diminishing Returns: Minimum Wage Protest in Silver SpringSeth Gitterhttp://www.blogger.com/profile/05419336947867237619noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4509173218981631666.post-20975754149565397412012-07-24T16:28:36.794-04:002012-07-24T16:28:36.794-04:00Interesting post. One other point to add is that ...Interesting post. One other point to add is that only about a fifth of those making the minimum wage are in poverty and only another fifth close to it. Many people at or close to the minimum wage are the children of middle and upper class parents. Raising the minimum wage to fight poverty is a rather blunt tool. <br /><br />In terms of wage subsidies, the Earned Income Tax Credit really is one of the largest transfer payment programs to low wage workers. Depending on their wage, the feds give the worker 40 cents for every dollar earned. One problem, though, is the phase out can result in rather high marginal (implicit) tax rates.<br /><br />Hasta pronto.<br /><br />Dad/Bob GitterBob Gitterhttps://www.blogger.com/profile/14148140658122498149noreply@blogger.com