Wednesday, February 5, 2014

Minimum wage myths

With a hat tip to Mark Perry, here's an excerpt from a recent Forbes article that points out numerous deceptive and manipulative efforts on the part of minimum wage proponents.  From Jeffrey Dorfman's column:
Having established that the number of minimum wage workers is small and shrinking, that most minimum wage workers are not poor, and that most of them are young and working their way up the ladder rather than supporting a family, I want to bust one more myth about the minimum wage: the relationship over time between the minimum wage and labor productivity. This one is particularly obnoxious because those selling this myth almost surely know that they are advocating for their preferred policy on the basis of a lie.
Click here to read how Dorfman debunks the "lie".