Economics @ ITT

Ending Minimum Wage Won’t Create Many Jobs

Posted in economics, employment, microeconomics, Policy Issues by ittecon on July 6, 2011

Republican Presidential candidate Michele Bachmann has soft-pedaled her opposition to the minimum wage law considerably since 2005, when she was quoted as saying, at a Minnesota State Senate hearing, “Literally, if we took away the minimum wage — if conceivably it was gone — we could potentially virtually wipe out unemployment completely because we would be able to offer jobs at whatever level.”

Ending minimum wage won’t create many jobs.

What’s wrong with this logic?


One Response

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  1. missdisplaced said, on July 6, 2011 at 9:00 am

    I remember my first two “jobs” where, because I wasn’t 18, the employer didn’t have to pay me minimum wage.

    First was cleaning motel rooms. The other ladies got then minimum wage of $3.35/hr. I got paid $2.85/hr. Guess what, I cleaned crappers just as good. It made me SO mad. The also stole our tips!

    Second job was at a large supermarket chain. Again, I got paid $3.00/hr. because I was not 18. I was the best cashier there! My drawer was always balanced and correct, and eventually I worked in the office closing out. Still for LESS than minimum wage until I turned 18 in 1985.

    What a ripoff! If MW was taken away, companies would only exploit like this again, only on a larger scale.

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