An editorial supporting a raise in the federal minimum wage that varies depending on regional labor market conditions, cites research by Arindrajit Dube, economics, who says the optimum minimum wage is 50-60 percent of a regional labor market’s median hourly wage.(Washington Post, 7/16/19)
Day: July 19, 2019
The work of Robert N. Pollin, Distinguished Professor in economics and co-director of the Political Economy Research Institute, is cited in a story about efforts to deal with the student loan crisis and a proposal by Democratic presidential candidate U.S. Sen. Bernie Sanders to forgive all U.S. student debt by taxing every stock and bond trade. Pollin estimates this transaction tax would generate about $220 billion per year. (The Epoch Times, 7/15/19)
Arindrajit Dube, economics, says a recent study by the Congressional Budget Office that says raising the federal minimum wage to $15 per hour would lift 1.3 million people out of poverty but would also cause the loss of 1.3 million jobs, relies on some questionable assumptions. He says many of those have already been rebutted by researchers in the field. (WBUR, 7/11/19)