A recent study found that “having a license when it is not required has no influence on wage determination, but, when it is required, licensing raises wages by 7.5 percent,” even controlling for a host of worker and occupational characteristics.109. The costs to the average poor household of anti-competitive, regressive regulations would be higher still if we also examined some utilities and health care interventions; but that is beyond the scope of this paper. When prices crashed, government and the Fed stepped in with attempts to reblow the housing bubble (proving of course no one really wanted affordable housing in the first place). Senate Democrats advocate a $15 per hour federal minimum wage.3 Their 2016 presidential candidates, Hillary Clinton and Sen. Bernie Sanders (I-VT), proposed new universal preschool and child-care programs.4 More recently, Senator Sanders backed a federal jobs guarantee designed to ensure a labor market wage floor.5. Sean Higgins, “Democrats Officially Introduce $15 Minimum Wage Bill,” Washington Examiner, May 25, 2017. Leave credit cards at home. Estimates of the cost of sugar interventions and tariffs on clothing and footwear assume that the poor have the same consumption habits as the broader population, though there are reasonable grounds to suspect the cost borne by them is even higher. Federal taxpayers foot the bill for these mistakes, with relatively more housing aid flowing to states with restrictive zoning and land-use rules.35 Treating the symptoms in this way helps entrench unnecessarily restrictive regulations. and publications. Congress enacted hundreds of affordable housing programs. 91. 95. Ryan Bourne and Len Shackleton, “Getting the State out of Preschool and Childcare.”. But it would be unsurprising if government transfers and benefits-in-kind raised disposable incomes for some recipients above what they could obtain from market-based activity and civil society assistance, particularly in the short run. Results from these studies, again, consistently suggest that tighter regulatory constraints drive higher housing costs. But liberalizing reform in the markets outlined above could improve the financial well-being of less well-off households without new government expenditure or risky labor-market interventions. 99. of living, the additional costs are borne by taxpayers who may pay more than was intended under policy adjustments. While manufacturers are unlikely to undo technological changes that have delivered improved fuel efficiency, President Trump’s planned policy of capping standards at 2020 levels would deliver significant annual savings for purchasers of vehicles relative to the trajectory planned by President Obama. The United States raised $33.1 billion overall in tariff revenue in 2017, but $14 billion of that came from tariffs on apparel and footwear alone. Childcare costs are around 15% of net family income across the OECD. 31. American government at the federal, state, and local levels delivers policies intended to help households on low incomes. 48. These are more likely to be low-income people for whom the payoff for moving into work is smaller. The ranges are wide, reflecting differences in household location and composition. Take advantage of free admission times at museums. A lower cost of living can certainly bring with it many benefits. 97. For a summary of recent research, see Peter Van Doren, “Regulation without Results,” U.S. News and World Report, March 27, 2017. They estimate the regulatory burden for black families to be somewhere between a third and a half of this, meaning that the average black family would save somewhere between $14 and $22 per year. President Barack Obama had agreed to raise the standards significantly from 2022 through 2025, to 60 miles per gallon for small cars and 46 for large cars, and 50 miles per gallon for small trucks and 30 for large trucks. Assuming the import propensities for the population as a whole apply to poorer people implies $595 of apparel spending and $199 of footwear spending is on imported goods. 2. Averaging previous studies suggests butter and ice cream prices would fall by 3 percent and 1 percent respectively while, counterintuitively, fresh cream, coffee additives, and yogurt prices would increase by 1.3 percent and cheese prices would rise by 0.5 percent.59. 2005-49, September 22, 2005. 108. Ideally, we would produce a more accurate estimate using detailed data of the cost of licensure by sector mapped against spending patterns for poor households. Sure. The main economic effect of all this is higher average prices borne by consumers. Congressional Budget Office, The Budget and Economic Outlook: 2018 to 2028, April 2018. Debates on policies to help the poor tend to focus on redistribution, tax breaks, minimum wage hikes, and government-provided services. With the federal budget deficit growing and demands for radical labor‐market policies proliferating, such an agenda would represent an economically efficient means of improving the well‐being of the poor without requiring more government spending or intervention. It simply reduces accessibility to formal care for the poor, making it more expensive and leading to substitution toward other care settings. The effects of both regulations on the quality and use of childcare are therefore theoretically ambiguous. When it comes to deciding which state to call home or to locate your small business, cost of living is a major factor to consider. Richard K. Perrin, “Ethanol and Food Prices—Preliminary Assessment,” Faculty Publications: Agricultural Economics 49, University of Nebraska–Lincoln, May 9, 2008. Grants are money given to states from the federal government. Cost of living is frequently used to compare minimum income needs in various locations. Reducing poverty through policies to cut the cost of living It proposes reforms to policies which affect the markets in five areas, to reduce the cost of living: housing; Based on a regulatory cost of $44 for a white household earning $10,000 and $38 for a household earning $20,000, a straight-line extrapolation suggests the cost to a household with average income for the quintile ($11,363) would be $43. This makes CAFE standards more regressive than a simple gas tax. This income-based approach underpins contemporary policy ideas. Free e-mail watchdog. 8–10. For some, certainly but others will have to pay for it through increased taxes and other costs. Next to a home, a car is often among the biggest purchases an individual or a family will make in their lifetime. But don't buy things just because they're on sale. Mark R. Jacobsen and Arthur A. van Bentham, “Vehicle Scrappage and Gasoline Policy,” NBER Working Paper no. The most direct way the federal government could relieve housing cost burdens on low-income households is by giving them subsidies. 70. Bureau of Labor Statistics, Consumer Expenditure Survey 2016, Table 1101, Quintiles of income before taxes. 21. 30. Use less heat or air conditioning when you're sleeping or away from home. - 1.3.6 Video: How to reduce your spending, 1.3.1 Case study: Tackling problem spending, Financial Consumer Agency of Canada's tools. Child-care providers likewise may respond to the cost increase arising from higher government certification requirements on caregivers by hiring cheaper, lower-quality support staff or purchasing lower-quality equipment. Without extensive welfare and entitlement programs, worker and household behavior in the long run would be very different. 81. Consider Table 3 (an updated version of Gresser’s work) below. Renewable Fuel Standard. Manufacturers must show the need for a new dealership if it is proposed within the same relevant market area as an existing one. Additionally, larger vehicle categories also face less stringent standards. 88. Liberalization could improve labor mobility, willingness to move into the labor market, and job options available to the unemployed and existing low-paid workers. But the objective of these policies is to internalize the social costs of carbon, which theoretically raises overall economic efficiency. Housing and child-care costs are likely to be particularly significant for those households in major metropolitan cities or with young children. They help boost other financial aid to students, and help pay for living costs and … Yet, these interventions currently come at a high cost to the poor. Keith R. Ihlanfeldt, “The Effect of Land Use Regulation on Housing and Land Prices,” Journal of Urban Economics 61, no. Get some simple, tasty recipes you enjoy, and stock up the fridge. 68. The current costs of these regulations to low-income families are significant. 1. While a range exists, all these estimates suggest CAFE standards increase new and used vehicle prices for consumers. The average annual cost of infant-center care varies from a low of $5,178 in Mississippi to a high of $23,089 in D.C. (25.7 percent and 114.5 percent of the federal poverty income level, respectively).39 Even accounting for income variance by state, care costs for an infant average 89.1 percent of median single-parent family income in D.C.; 70.9 percent in Massachusetts; and 57.0 percent in New York. If so, how? Diana Thomas and Devon Gorry analyze variation in prices and staff-child ratios across states, estimating that loosening the requirement by one child across all age groups (regulations tend to vary by child age) reduces prices by between 9 and 20 percent.48 This supports an older result from Randal Heeb and Rebecca Kilburn, who found that reducing the number of children per staff member by two would raise the price of childcare by 12 percent.49. 41. See, for example, Frank Mathewson and Ralph Winter, “The Economic Effects of Automobile Dealer Regulation,” Annales d’Économie et de Statistique, no. This list is hardly comprehensive; to avoid subjective judgments about the effect on prices relative to other objectives, this analysis focuses exclusively on anti-competitive interventions and regulations that both raise prices and reduce overall economic efficiency.9 A “cost-based” approach to poverty alleviation through reform in these areas could therefore provide a significant financial boost to low-income households. Congressional Budget Office, “The Impact of Ethanol Use on Food Prices and Greenhouse-Gas Emissions,” April 2009, https://www.cbo.gov/publication/41173, pp. 100. Without data disaggregated by region, household composition, and income level, one cannot reach firm conclusions about the financial costs of existing policies to individual families. Get a better communications package. Yet economic evidence suggests child-care prices are also driven higher by state-level regulations. Their stringency has increased since they were tied to a vehicle’s physical footprint beginning in 2012. Author’s calculations based on data from U.S. Bureau of Labor Statistics, “Women in the Labor Force: A Databook,” BLS Report no. The Assisted Living Registry maintains a register of publicly subsidized and private pay residences. Federal Reserve Economic Data, Federal Reserve Bank of St. Louis, https://fred.stlouisfed.org/series/CPIAUCSL. 19. The effect on manufactured milk and processed dairy products is less clear. A pro-market “cost-based” reform agenda to reduce prices of essential goods and services should be considered an important tool in an effective and enduring “first do no harm” approach to reducing poverty. Other sectors commonly licensed include hair braiding, barbers, and sign-language interpreters, where any costs associated with low-quality providers are likely much smaller. Make sure you have the best package of banking services, at the lowest cost. The average single-parent family spends proportionately more on apparel than do two-parent families. As Cato scholar Colin Grabow has explained in detail, the U.S. Department of Agriculture (USDA) facilitates loans to sugar processors using raw sugarcane and refined beet sugar as collateral, effectively creating a floor for the domestic sugar price.63 To ensure that loans will likely be repaid, it then restricts the supply of domestic sugar through allotment quantities, raises demand by making purchases, and limits the amount of sugar that can be imported either without tariffs or with low tariffs. These account for around 60 percent of total production, with another fifth of the remaining 40 percent from California, which operates similar schemes at the state level.57 The marketing orders set regional prices for fluid milk and use complex formulae to determine nationwide prices for three other classes (soft manufactured products such as ice cream, hard cheese and cream cheese, and butter and dry milk). I am unsure whether an increase in the minimum wage is the solution to my problems, but I am willing to explore the concept. Rachel Connelly and Jean Kimmel, “The Effect of Child Care Costs on the Employment and Welfare Recipiency of Single Mothers,” Southern Economic Journal 69, no. The calculation also assumes the same effective tariff rates for apparel and footwear apply for the poorest households as for the whole population, but we have seen that products that the poor are more likely to buy tend to face higher tariff rates. 58. This higher price then raises production costs for meat and dairy products, since corn is used as animal feed. David Neumark, “Reducing Poverty via Minimum Wages, Alternatives,” Federal Reserve Bank of San Francisco Economic Letter no. We would therefore expect these implied regulatory taxes to be higher in many cities today.29, Other economists estimate the effect of land-use regulations on prices and rents econometrically. The combination of the regulations may satisfy some parents that their children will be well cared for, and this “quality assurance” effect may raise overall demand for formal care. 90. 89. If so, how? model seeks to do just that. The origins of the standard are the Energy Policy Act of 2005, which amended the Clean Air Act, and the Energy Independence and Security Act of 2007, which expanded the ethanol mandates. For a full exposition of this argument, read Arik Levinson, “Energy Efficiency Standards Are More Regressive Than Energy Taxes: Theory and Evidence,” May 8, 2018, http://faculty.georgetown.edu/aml6/pdfs&zips/RegressiveMandates.pdf. Salim Furth, “Costly Mistakes: How Bad Policies Raise the Cost of Living,” Backgrounder No. The one and only thing those programs did was create a housing bubble. 96. 4 years ago. The difference between the consumption of rich and poor on this metric is lower than the total gas consumed. estimates apply to the housing markets of nearly 20 years ago; since then the regulatory burden has intensified. Calculating an average effect for poor households across the country is difficult. Economists Lucas Davis and Christopher Knittel estimate the implicit tax from CAFE standards in 2012 to be around $180 per vehicle for those in the poorest income quintile.81 Adjusted for inflation, that’s more like $194 today.82 The standards have become much more stringent since then, suggesting the effect today would be far larger. 44. This argument is most forcefully made about medical professionals, where it is argued that “quack” practitioners might do substantial harm to patients. Under the Community Care and Assisted Living Act, all publicly subsidized and private pay assisted living operators in British Columbia must register their residences with the Assisted Living Registry. But removing misguided regulatory interventions would reduce poverty while expanding markets, simultaneously reducing the cost of living for low-income families and growing the economy. 19171, September 2017, http://www.nber.org/papers/w19171; and Robert J. Barro and Charles J. Redlick, “Macroeconomic Effects from Government Purchases and Taxes,” NBER Working Paper no. Elyse S. Powell, Lindsey P. Smith-Taillie, and Barry M. Popkin, “Added Sugars Intake across the Distribution of US Children and Adult Consumers: 1977–2012,” Journal of the Academy of Nutrition and Dietetics 116, no. Evidence from Administrative Data,” Department of Political Science, Stanford University, August 7, 2018. For land-use and zoning laws, child-care regulations, policies that increase driving costs, and occupational licensure these secondary effects could be very large indeed. We should aspire to undo this damage, rather than doubling down on a more interventionist agenda that, in part, seeks to treat the symptoms of current mistakes. 42. They assume tariffs do not raise domestically produced goods prices, though in reality the anti-competitive effect of the tariffs would be expected to raise prices here too. Among children with employed mothers, those living below the poverty line were more than twice as likely to be cared for by an unlicensed relative (20.7 percent vs. 9 percent). The arguments that licensure corrects for some “market failure” are therefore increasingly difficult to justify. Data for imports for consumption, and effective rates calculated using “customs value” and “calculated duties” for 2017. 40. Calculator available from the. 1-2 (2003): 183–96, https://www.researchgate.net/publication/239804081_Driving_Out_of_Poverty_in_Private_Automobiles. Empirical evidence at Lucas W. Davis and Christopher R. Knittel, “Are Fuel Economy Standards Regressive?” NBER Working Paper no. In order to ensure that these prices are not undercut by foreign producers, import barriers then insulate domestic dairy producers from competition through tariff rate quotas. 66. When it's gone, wait until next week before spending more. Look for specials. Rent control both increased the cost of rental accommodation and intensified gentrification. Subsidies ease the pressure on local governments to address the cause of high housing costs. 9 Child Care Aware of America, “2017 Appendices: Parents and the High Cost of Child Care,” Appendix I: 2016 Average Annual Cost of Full-Time Center-Based Child Care by State, http://usa.childcareaware.org/costofcare. Use the. estimate of implied regulatory tax for New York (12.2 percent) from average New York household expenditure on shelter of $16,882 in 2016 (taken from Consumer Expenditure Survey 2016, Table 3004). Assisted living services provide housing, hospitality services and personal care services for adults who can live independently and make decisions on their own behalf but require a supportive environment due to physical and functional health challenges. Economist Michael Wohlgenant has suggested that the burden amounts to $2.4 billion per year, or an average of around $19 per household.65 A 2017 paper by John Beghin and Amani Elobeid estimated the loss to consumer welfare from the sugar program at between $2.4 billion and $4 billion in 2009 dollars.66 Adjusted for inflation, that is equivalent to $2.8 billion to $4.7 billion today. https://www.cato.org/publications/trade-policy-analysis/threadbare-excuses-textile-industrys-campaign-preserve-import-restraints; https://www.cato.org/publications/free-trade-bulletin/cutting-cord-textile-trade-policy-needs-tough-love, https://voxeu.org/article/us-tariffs-are-arbitrary-and-regressive-tax, https://fred.stlouisfed.org/series/CEU3231300001, https://www.hhh.umn.edu/file/9441/download, The Use and Misuse of Income Data and Extreme Poverty in the United States, It’s Time to Change the Calendar, Once and for All, The Economic and Moral Foundations of Americans’ Attitudes toward Paying Kidney Donors, Public Health Efforts and the Decline in Urban Mortality, Creative 112. 39. Calculations averaging standards in 2011, 2018, and 2025, assuming two-thirds of vehicles are ordinary cars and one-third light trucks. The dominant “income-based” approach to helping the poor can directly alleviate financial hardship. Of course, these types of analyses fail to model a counterfactual world in which extensive government redistribution does not exist. Hayley Chouinard et al., “Milk Marketing Order Winners and Losers,” Applied Economic Perspectives and Policy 32, no. 115. Have a vacation closer to home. Reduce the credit limit on your credit card. Timothy Puko, “Trump Administration May Eliminate Increases in Fuel-Economy Standards,” Wall Street Journal, April 27, 2018. Consumer welfare losses from tariffs are higher than the implied savings here, of course, since tariffs make consumers less willing to buy imported products that they would otherwise prefer. Congressional Budget Office, The 2017 Long-Term Budget Outlook, March 2017. Delays New Degree Requirements for Childcare Workers,” WAMU, November 17, 2017. National Conference of State Legislatures, “The National Occupational Licensing Database”; Morris M. Kleiner, “Reforming Occupational Licensing Policies,” Brookings Institution Discussion Paper No. Check your bills to spot mistakes and overcharges. Rob Looker, “Average New- and Used-Car Prices, and the Advantages of Flexible Financing,” RoadLoans.com, March 1, 2018, https://roadloans.com/blog/average-car-price. It is beyond the scope of this paper to assess the merits of curbing carbon emissions. 1 (March 2010): 59–76. Morris M. Kleiner et al., “Relaxing Occupational Licensing Requirements: Analyzing Wages and Prices for a Medical Service,” NBER Working Paper no. 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