Deep question. This depends on how we frame the benefit and the cost of the decision.
We need a personal view of a fair minimum standard and an idea of the opportunity cost of it being provided.
As my personal view on this standard is higher than some, my cut-off will involve high taxes and greater labour market distortions. But even then I want more work understanding how these pieces fit together.
In the graph post I shifted from viewing the current case as fairly "obvious", to realizing that the work balancing these things is probably necessary right now. So we are at the point where we at least need to start thinking.
At what cut-off point do you think we should stop raising the benefit rates?
Deep question. This depends on how we frame the benefit and the cost of the decision.
We need a personal view of a fair minimum standard and an idea of the opportunity cost of it being provided.
As my personal view on this standard is higher than some, my cut-off will involve high taxes and greater labour market distortions. But even then I want more work understanding how these pieces fit together.
In the graph post I shifted from viewing the current case as fairly "obvious", to realizing that the work balancing these things is probably necessary right now. So we are at the point where we at least need to start thinking.