Minimum Wage

Conservative Talking Points believes every job has a value.  The government cannot set an arbitrary value to any job and any government that can set a minimum wage can also someday set a maximum wage.  Oh wait - they just did that to the financial industry in 2009.

 

Who's Getting Minimum Wage (Source: The Heritage Foundation)

        44% are teenagers or young adults aged 21 or less

       66% of the young workers are in families with incomes double the official poverty level for the size of their family

        Sole breadwinners account for only 12% of minimum wage workers with dependents

        69% of minimum wage workers are in families with at least two other earners

        60% who start work at the minimum wage get their first raise within the first year

        Only 1% of the full time work force is earning just the minimum wage

        Only 15% of minimum wage workers still receive minimum wage after three years on the job

 

Minimum Wage Kills Jobs (Individually Sourced)

       The proposed increase in the Boston state minimum wage to $8.25/hr would lead to the loss of 26,970 jobs. (Source: A 2005 study by The Beacon Hill Institute at Suffolk University in Boston)

       Any increase in the minimum wage leaves businesses that employ millions of low skilled workers with two options: 1) Increase prices or 2) layoff more workers.  One will increase inflation and the other will result in more unemployed. (Source: PennyJobs.com)

       The 12% minimum wage hike of 2008 contributed to a 5% drop in teen unemployment. Since Congress began implementing the 2007 wage hike, over 480,000 teen jobs have been destroyed across the country. (Source: Employment Policies Institute (EPI) - July 2009)