I don't know of a single economist who disagrees that when you raise the minimum wage, you kill jobs for the poor.
Sentiment: NEGATIVE
Raising the minimum wage seems to all economists to, at the very least, fail to 'raise' employment, and we'd all like to see better inclusion of low-skilled workers into good-paying jobs.
Raising the minimum wage isn't just pro-worker; it's pro-economic growth.
In the general economy, you get government involved in making market decisions - first of all, they're going to get it wrong. For a minimum wage, you will actually reduce the number of jobs available.
Most arguments for instituting or raising a minimum wage are based on fairness and redistribution. Even if workers are getting a competitive wage, many of us are deeply disturbed that some hard-working families still have very little.
When we talk about the kind of folks whose lives will be made better by raising the minimum wage, we're not talking about a couple teenagers earning extra spending money to supplement their allowance. We're talking about providers and breadwinners. Working Americans with bills to pay and mouths to feed.
I do not support raising the minimum wage, and the reason is as follows. When the minimum wage is raised, workers are priced out of the market. That is the economic reality that seems, at least so far, to be missing from this discussion.
Raising the minimum wage is the right thing to do, but it's a popular thing to do as well.
The value of the minimum wage shouldn't be eroded, and it has been.
The minimum wage is something that F.D.R. put in place a long time ago during the Great Depression. I don't think it worked then. It didn't solve any problems then and it hasn't solved any problems in 50 years.
The most insidious thing about trickle-down economics is not the claim that if the rich get richer, everyone is better off. It is the claim made by those who oppose any increase in the minimum wage that if the poor get richer, that will be bad for the economy. This is nonsense.
No opposing quotes found.