CaseyJones
12-30-2013, 01:02 PM
http://www.washingtontimes.com/blog/inside-politics/2013/dec/30/ron-paul-raising-minimum-wage-hurts-poorest/
Former Rep. Ron Paul, Texas Republican, said in his weekly column that “raising the minimum wage actually harms those at the bottom of the income ladder” and raising it by “government decree” “appeals to those who do not understand economics.”
“Raising the minimum wage increases the price of labor, thus decreasing the demand for labor,” he writes. “Unskilled and inexperienced workers are the ones most often deprived of employment opportunities by increases in the minimum wage.”
President Obama and congressional Democrats have been pushing to increase the federal minimum wage from its current level of $7.25 an hour, and the White House has expressed support for proposals in Congress that would increase it to $10.10. Some states, meanwhile, have taken it on their own to set their own minimum wage levels above $7.25.
An NBC/Wall Street Journal poll from earlier this month found that 63 percent of Americans support raising the federal minimum wage to $10.10 an hour.
Former Rep. Ron Paul, Texas Republican, said in his weekly column that “raising the minimum wage actually harms those at the bottom of the income ladder” and raising it by “government decree” “appeals to those who do not understand economics.”
“Raising the minimum wage increases the price of labor, thus decreasing the demand for labor,” he writes. “Unskilled and inexperienced workers are the ones most often deprived of employment opportunities by increases in the minimum wage.”
President Obama and congressional Democrats have been pushing to increase the federal minimum wage from its current level of $7.25 an hour, and the White House has expressed support for proposals in Congress that would increase it to $10.10. Some states, meanwhile, have taken it on their own to set their own minimum wage levels above $7.25.
An NBC/Wall Street Journal poll from earlier this month found that 63 percent of Americans support raising the federal minimum wage to $10.10 an hour.