Wednesday, January 10, 2007

Minimum Wage Facts

I rarely read the Washington Post, but in today's issue they have a great article by George Will on not raising the minimum wage. Here is one quote that puts it in perspective. "Of the 75.6 million paid by the hour, 1.9 million earn the federal minimum or less, and of these, more than half are under 25 and more than a quarter are between 16 and 19. Many are students or other part-time workers. Sixty percent of those earning the federal minimum or less work in restaurants and bars and are earning tips in addition to their wages."

Just found another great article on CATO's site. Good quote: "Hong Kong has no minimum wage but is one of the most prosperous economies in the world — because it is also the freest.
Economic freedom, not minimum-wage socialism, is the key to reducing poverty, as China is learning. If legislators really want to help the poor, the best thing they can do is abolish, not increase, the minimum wage."


Gered Lambert said...

I have never had to work a min wage job so I'm blessed from that perspective. But, what I would challenge others to consider is, "Why would I settle for a minimum wage job? And if I am in a minimum wage job, what do I have to do to prove to my employer I deserve a raise?"

Just something to think about...

Anonymous said...

Minimum wage is a catch 22 as when you raise the minimum wage the employers have to pass that expense on to the buying public who are also people on minimum wage so it cancels each other out.
Featherirons' mother

Cajun Tiger said...

Gered...I did, but worked my way out of it at the age of 16 and never looked back since.

FI's mom...Libs just don't get it one bit and the ones it will hurt the most are the Libs biggest supporters...makes no sense whatsoever.