The truth is minimum wage is . . . the MINIMUM! You start at a low wage, gain experience and skills thereby making yourself more valuable and, thus, warranting a higher wage.
The truth is raising the minimum wage hurts the very people that liberal advocates of the wage rate increase claim to be trying to help. Milton Friedman said it this way, "minimum wage laws are about as clear a case as one can find of a measure, the effects of which are precisely the opposite of those intended by men of goodwill who support it."
Below is a list of citations used in the Minimum Wage discussion in Pritical Thinking:
- CBO Report
- Consumers Pay for Minimum Wage Hike
- Employment Policies Institute, Wage Growth Among Minimum Wage Earners
- Minimum Wage Hike Will Hurt Jobs and Economy
- What is Minimum Wage: Its History and Effects on the Economy
- Who Earns the Minimum Wage? Suburban Teenagers, Not Single Parents
- Income Inequality, Walter E. Williams
- Majority of Minimum Wage Earners Under 30 Years Old
- Bureau of Labor Statistics Unemployment Matrices
- Bill Gates on Minimum Wage Harmful Effects
- Politics and Minimum Wage
