Saltsman: Minimum-wage hypocrisy
- August 10, 2012
- Research by David Neumark, economics Chancellor’s professor and Center for Economics & Public Policy director, is featured in the Washington Times August 10, 2012
From the Washington Times:
President Obama and some congressional Democrats are united in their opposition to an increase in the minimum wage. Sounds unusual, right? After all, there's rarely been a time when liberals weren't in favor of a wage hike. Yet last month, President Obama signed bipartisan legislation to curb job losses in American Samoa by delaying the territory's minimum-wage increase... However, as a wealth of academic studies - not to mention the experience in American Samoa - prove, raising the minimum wage would have the opposite effect. According to economists at the University of California at Irvine and the Federal Reserve Board, 85 percent of the most credible studies on the subject from the past two decades point to job loss following an increase in the minimum wage.
For the full story, please visit http://www.washingtontimes.com/news/2012/aug/10/minimum-wage-hypocrisy/.
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