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De Omnibus Dubitandum - Lux Veritas

Friday, December 6, 2013

Raising minimum wage hurts young people

By Diana Furchtgott-Roth DECEMBER 3, 2013

Calls to increase the minimum wage are rising. Financial Times columnist Edward Luce wrote that raising the minimum wage “would inject a much-needed stimulus into the anemic recovery without involving a dollar of taxpayer money.” The New York Times has published columns by Princeton professor Paul Krugman and University of Massachusetts professor Arindrajit Dube on the advantages of raising the hourly minimum wage from its current level of $7.25. These commentators and others suggest a $10.10 minimum wage, a 39 percent increase for minimum wage workers, even for the worst-performing employees.  

Here are their talking points:

– Raising the minimum wage helps the economy because low-wage workers have more money to spend……To Read More….

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