President Obama has called for an increase in the minimum wage to give poor workers a pay increase. Here’s why it’s well-intended but misguided: 1. Two-thirds of the adults living in poverty don’t work,[1] so raising the minimum wage does little to help most people in poverty. 2. 50% of the minimum wage workers are less than 25 years old.[2] The unemployment rate among those workers is currently about 15%; for African Americans it’s about 25%.[3] Raising the cost ... Read More
