Posted by
Silvio Canto, Jr. on Tuesday, August 01, 2006 7:50:02 AM
It happens every two years. The Democrats do their "minimum wage" dance by accusing Republicans of overlooking the poor.
Like "tax cuts for the rich", this Democrat argument is cheap class warfare.
James Sherk has the latest summary of this minimum wage nonsense. The study is
Raising the Minimum Wage Hurts Vulnerable Workers’ Job Prospects Without Reducing Poverty:
"Contrary to the rhetoric of those who favor raising the minimum wage, most people affected by the minimum wage are actually young workers. Individuals between the ages of 16 and 24 accounted for 53 percent of all minimum wage-earners in 2005.
Due to unintended effects, a law can achieve the opposite of its supporters’ intentions. The minimum wage is such a law. It is intended to reduce poverty, but it does not. Instead it encourages teenagers to drop out of school and reduces low-income workers’ future job prospects and earnings. Good intentions are not enough. Congress should not pass a destructive minimum wage hike that will harm the most vulnerable American workers."
Read this one and share the study with others.