Minimum Wage Facts

[Capitalist Lawyer]

- Only 520,000 (or 0.17% of the population) is paid minimum wage.

- Only 2% of workers over 25 earn MW

- 63% of MW earner receive raises within one year of employment

- Only 15% still earn MW after three years of employment.

- Only 5.3% of MW earners are from household below the official poverty line.

- 40% of MW earners live in households with incomes $60,000 or higher

- Over 82% of MW earners don't have dependents

- the proportion of hourly-paid workers earning MW has trended downward since 1979.

- MW earners cost much more than $5.15 per hour to their employers because of Social Security, Medicare, unemployment insurance, workers' comp insurance, health and disability insurance, vacations, holidays and sick leave.

- Two surveys of academic economists (one in 1979, the other in in 1992) resulted in 80% and 90% saying a hike in MW would result in an increase in unemployment among youth and low-skilled workers

Source (http://www.townhall.com/opinion/...94892.html)

[RedAnarchist]

Is it possible to accidentally double post in different threads three minutes apart, or did you just post this twice to be annoying?

[Red Axis]

He is just your typical libertarian capitalist douchebag.

[theraven]

i imagien its a result of hitting "post" twice

[Americancommi]

You can't expect to get factual information from a conservative site like townhall.com

[amanondeathrow]

Two surveys of academic economists (one in 1979, the other in in 1992) resulted in 80% and 90% saying a hike in MW would result in an increase in unemployment among youth and low-skilled workers

"Last fall, 562 economists signed a letter agreeing that "the minimum wage has been an important part of our nation's economy for 65 years." Further, they agreed that "as with a federal increase, modest increases in state minimum wages in the range of $1.00 to $2.00 can significantly improve the lives of low-income workers and their families, without the adverse effects that critics have claimed." The signers included four Nobel Laureates, three of whom have served as presidents of the American Economic Association, the mainstream, economists' professional association."

Source (http://www.epi.org/content.cfm/webfeatures_viewpoints_slayers)

We can post quotes too, its not that hard. Next time you should come up with your own argument.

[patrickbeverley]

Originally posted by Capitalist [email protected] 1 2006, 02:08 AM
- Only 520,000 (or 0.17% of the population) is paid minimum wage.
What about illegal immigrants on sub-MW wages?