In An IMF Talk, Bloomberg Criticized Notion of Minimum Wage

In An IMF Talk, Bloomberg Criticized Notion of Minimum Wage

Bloomberg didn’t just criticize the minimum wage in his IMF talk. During the same Q&A session, he claimed that as mayor, he discovered that some New Yorkers were fraudulently signing up for food stamps. (Most experts agree that food-stamp fraud is uncommon, as is true of welfare fraud in general.) As mayor, Bloomberg kept in place a policy of fingerprinting food-stamp applicants, ostensibly to cut down on fraud. By 2012, New York City was one of only two places to fingerprint food-stamp applicants. Governor Andrew Cuomo eventually ended the practice.

But Bloomberg still defended the policy in his conversation with Lagarde. “A handful of people,” he claimed, “signed up under different names and they were getting four and five times the amount that they were supposed to get, which meant that we couldn’t take care of some other people who really deserved it.” Fingerprinting people ensured they “could only register once,” he added.

via NYMag In An IMF Talk, Bloomberg Criticized Notion of Minimum Wage