Using government funds to guarantee preschool education for four-year olds would yield a much lower social return than the ones achieved by the most highly touted targeted preschool initiatives.
Raising the federal minimum wage to $9 per hour would make it noticeably harder for low-skilled workers to find employment.
The distortionary costs of raising the federal minimum wage to $9 per hour and indexing it to inflation are sufficiently small compared with the benefits to low-skilled workers who can find employment that this would be a desirable policy.
