Bill Clinton: Need to Lift the Working Bottom

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June 25 (Bloomberg) -- Former U.S. President Bill Clinton discusses income inequality at the Clinton Global Initiative in Denver. (Source: Bloomberg)

We can do, either a new policy or to blame one of the policies you used effectively during your administration?

In the short run, one of the most important things we can do is lift the autumn, the working bottom.

By raising the minimum wage.

We had a big argument about this yesterday, you may have seen and heard a lot of people argue every time you raise the minimum wage, you cut off opportunities for young people and jobs.

I have been doing this a long time.

That has never happened any time i was involved.

You could raise the minimum wage so much.

It will be interesting to see.

But the research indicates that if you keep the minimum wage at roughly half the median, you can get the best of both worlds.

You can give people enough money to live on and that adds economic growth because people do not have enough money to save, so they circulated the economy and it turns over and contributes to growth.

I think that is important.

Making adjustments in the earned income tax credit and the child tax credit, to help working people with families, the lower end of the wage scale, it is important here it the earned income tax credit when i was president alone help the economy and children.

It enabled us to have the only time in the 70's where the bottom income of earners increased their earnings more than the top point percent.

We can do that.

The third thing that would help a lot is it would take us years, it looks like, but we have got to get medicaid expansion.

It creates dolls of jobs in every state, brings money in, and rewards working people.

The people who oppose medicaid expansion, virginia just had a study that said their budget would generate $1 billion less more revenue if they take it and pay the 10% match in the next three years.

Because of all the jobs that will be created and all the savings increasing health care.

You have got to get families helping their kids.

Over the long run, the social mobility may be more important.

We have proven in america that we would except a slightly higher rate of economic inequality than many of the most wealthy countries in europe in return for more social mobility.

We would take in more immigrants and give them a chance to start out low on the totem pole and give them a chance for middle-class lives.

We have less social mobility in america than a lot of other countries now.

Canada has a higher median income.

It appeared this year for the first time since world war ii.

There are several countries with higher incomes in the lower 40% of the workplace.

Borrow some of their

This text has been automatically generated. It may not be 100% accurate.


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