Monday, July 13, 2009

Government Makes it Worse: Add Minimum Wage Hike to the List

Later this month, the federal government will add to its lists of employment-destroying public policies that have appeared or enlarged since mid-2008:

  • minimum wage hike
  • means-tested mortgage modification
  • mean-tested student loan modification
  • unemployment insurance extensions
  • state income tax hikes,
  • IRS means-tested enforcement of prior tax debts
  • marginal federal tax rate hikes on the "rich"!

How long will this list get before more economists recognize that government has done more harm than good during this recession?

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