Monday, July 23, 2007

Below the Minimum Logic

During the YouTube debate for the Democratic candidates a woman asked if the candidates support a higher minimum wage. At the same time, most of them strangely agreed that they would work for the minimum wage.

What escapes most people that support such legislation is that the minimum wage hurts poor people. Let me say that again: the minimum wage makes it more expensive for employers to hire those that have few skills. The argument seems absurd at first until you realize that firms want to make money. Those that have the hardest time getting a job will not be helped by a law making it more expensive to hire them. Those that need the most help in our society--the very people that minimum wage seeks to help--are those most harmed by it.

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