A Better Way to Help the Working Poor
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Feb. 20 (Bloomberg) -- U.S. President Barack Obama wants toraise the federal minimum wage to $9 an hour from $7.25 as a wayto alleviate the pain of poverty and make work more attractivefor the poor.
These are worthy goals, but they should be paid for bytaxpayers nationwide, not just by the businesses that employlower-wage workers. Instead of redistribution throughregulation, Congress should enhance and improve the earnedincome tax credit, or start a new taxpayer-financed program thatmakes working more attractive for the poor.