President Obama’s budget proposes raising the minimum wage to $9 an hour. This would hurt the very workers the President wants to help. When the price of something rises, people—both consumers and employers—purchase less of it. Americans responded to the higher cost of gas by driving less. Businesses similarly respond …
When someone says “minimum wage,” what comes to mind? Do you think of teenagers flipping burgers? Or a single parent trying to feed several kids? While President Obama and other proponents of a higher minimum wage want you to visualize that single parent, the truth is that a burger-flipping teenager …
During last night’s State of the Union address, President Obama proposed fighting poverty by raising the minimum wage. It sounds appealing but it will not work. Labor economists have repeatedly studied the effects of minimum wage increases. They find no correlation between higher minimum wages and lower poverty. Raising the …
Last week, the U.S. Department of Labor released its Employment and Unemployment Among Youth—Summer 2012 report. While many youths (ages 16-24) found a summer job this year, many did not even try. Fully 39.5 percent of the youth population neither worked nor looked for work this summer. This number has …
Should we raise the minimum wage? The editors at Bloomberg think so. They maintain that low-wage jobs are expanding and that a minimum wage hike would boost the economy. Despite these notions, hiking the minimum wage remains a bad idea. Bloomberg first laments that low-wage jobs are becoming the norm: …
Protests that began on Wall Street and spread to cities across America have now reached the pristine halls of Harvard. That’s right, the country’s oldest university is experiencing walkouts by students sympathizing with the “Occupy” movement. The source of their frustration: Students don’t like the content presented in an introductory …
Alan Krueger, President Obama’s nominee as chair of the White House Council on Economic Advisors, received accolades from liberals yesterday for his stances on a number of major economic issues, including his support for a cap and trade regime, and value added tax, and the Cash for Clunkers program. But …
