Bloomberg.com: on Welfare & Poverty

Mike Bloomberg: Expand the earned income tax credit to raise real wages

The tax bill [passed by Congressional Republicans and signed by President Trump in December 2017] does nothing to address these challenges. In fact, it makes each of them worse.

INEQUALITY: If Congress wanted to raise real wages and reward work, there is a simple and proven way to do it: expand the earned income tax credit. Instead, it seems to believe that lower corporate tax rates will magically lead to higher wages, which fundamentally misunderstands how labor markets work.