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.

2 Responses to “In Support Of The Poorest Of The Poor”

  1. […] Cafe hayek has more. I have also blogged on the minimum wage before. Filed under: General, Economics by HispanicPundit | […]

  2. […] The reason that the minimum wage is one of the last few remaining price controls is precisely because it carries so much political support, even though its results are clearly opposite of what the voters intend. For more on how the minimum wage harms workers, and especially low skilled minority workers, go here, here, here and here. Filed under: General, Economics, Minimum Wage by HispanicPundit | […]

Leave a Reply