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Topic: Poverty Line

Radio Talk Shows Vs. Common Sense: The Increase in the Minimum Wage

 

livingwageThe other day on the way home from work I heard a right wing radio talk show host say the following, and I am paraphrasing:

“The minimum wage is going up 10%. Therefore, in order for businesses to maintain the same level of profits, we should expect 10% of minimum wage earners to be laid off. This increase in the minimum wage, effectively, increases unemployment, increases the number of people looking for government entitlements, which is exactly the opposite of what this economy currently needs.”

The host cut to a commercial break, and I turned the radio off to think about that statement. It just didn’t sound right to me. It sounded too black and white. Economics is rarely that simple. So I thought about it. «Read the rest of this article»

Sections: Commentary | 8 Comments
 



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