In Support Of The Poorest Of The Poor

The senate did something right:

The Senate defeated dueling proposals Monday to raise the $5.15-an-hour minimum wage – one backed by organized labor, the other salted with pro-business provisions – in a day of skirmishing that reflected Republican gains in last fall’s elections.

I especially like what Sen. John Sununu said:

“When you raise the minimum wage you are pricing some workers out of the market,” said Sen. John Sununu, R-N.H. “It is an economic fact, and the proponents of raising the minimum wage like to dismiss this by saying we have a hard time measuring it and the economy is large.”

Here is more on why the minimum wage is a bad thing, especially for the poorest members of society.

Update: Moonage Political Webdream has more on why the minimum wage is bad.

Update: Tom Palmer has more.

Update: Analysis has more.

Update: Cafe Hayek has more.

Update: Joe Malchow, of Dartblog, has more.

Update: Heritage policy has more.

Update: Angry Economist has more.

Update: Walter Williams has more.

Update: Mises has more and more.

Update: Tim Worstall has more and more.

Update: The Eclectic Econoclast has more.

Update: scsuscholars has more.

Update:Steven Horwitz has more.

Update: Eidelblog has more.

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