Wednesday, April 26, 2006

 

W.W.

Good article on the minimum wage by Walter Williams this morning:

According to the U.S. Bureau of Labor Statistics: Sixty-three percent of minimum wage workers receive raises within one year of employment, and only 15 percent still earn the minimum wage after three years. Furthermore, only 5.3 percent of minimum wage earners are from households below the official poverty line; forty percent of minimum wage earners live in households with incomes $60,000 and higher; and, over 82 percent of minimum wage earners do not have dependents.

Want some of the data, check out the BLS website and some tables.

Good news is that there has been a downward trend in the number federal minimum wage earners ($5.15/hr) since they started collecting the data in 1979.

Comments:
Good stuff.
 
I wish I could remember all these great stats when I'm arguing with the bleeding hearts at school. I never can recall the information when I need it. I always end up back at the old moralistic fallback of "coercion is bad."
 
Indeed.

The quicker we can convince politicians like John Edwards to drop the Middle Wage balogna and focus on things that actually help the poor the better.
 
umm Minimum Wage balogna too.
 
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