From Investor's Business Daily:
Setting a minimum wage takes a toll. While benefiting a few — those fortunate workers who gain from lawmakers' generosity with someone else's money — minimum wage laws hurt many more by reducing employment among low- and unskilled workers, the very people they're supposed to help. Minimum wage is a tax on hiring from this sector of the workforce. The scholarly literature supports the opponents' position. University of California-Irvine economist David Neumark has looked at more than 100 academic studies that assessed the impact of lawmakers setting wages. His conclusion: About 85% of the studies reported that there is indeed "a negative employment effect on low-skilled workers."

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