Are you sure, Clo?
Try reading this entire article. >>
The Record Is Clear: Minimum Wage Hikes Destroy Jobs
http://www.forbes.com/sites/realspin/2013/04/17/the-record-is-clear-minimum-wage-hikes-destroy-jobs/
But as is often the case in politics, “effective” is not synonymous with “true.” The case in favor of a higher minimum wage is built on a bewildering number of misleading statistics and straight-up falsehoods, some of which were recently rehashed on the pages of the Washington Post by former Obama administration economist Betsey Stevenson.
It’s time to correct the record.
Let’s start with job loss, a defining issue of any minimum wage debate. Opponents of this policy argue that raising business’ labor costs will (absent the ability to increase prices) force them to scale back on employee hours and jobs. Stevenson argues that this consequence is a figment of the conservative imagination, citing “many” studies which show a higher minimum wage has no impact on employment.
However, “many” is not the same as “most,” and Stevenson crosses the line from professor to pundit when she classifies wage hike-related job loss as a myth.
In a comprehensive, 182-page summary of the research on this subject from the last two decades, economists David Neumark (UC-Irvine) and William Wascher (Federal Reserve Board) determined that 85 percent of the best research points to a loss of jobs following a minimum wage increase.
(Entire article is at the link. Zim.)
Mad Poet Strikes Again.
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