| Raise Minimum Wage-- Raise Unemployment |
In a desperate attempt to play off the economic issues which are at the top of most voters' minds, the Democratic caucus, led by Congressman George Miller (D-Martinez) has issued legislation to raise the federal minimum wage from $7. 25 to $10.00 an hour.
Economists from both sides of the aisle have rallied against the minimum wage laws ever since Congress began authorizing a mandated minimum wage.
It is sheer folly to dictate to businesses how much they have to pay their workers. The wage rises, the prices of goods rise with it, and the unemployment also rises, since businesses must lay off works to keep up with the labor costs without losing a profit.
A majority of economists in one study outlined that raising the minimum wage would have no effect on the economy, and in fact could even cause more problems (http://epionline.org/studies/epi_minimumwage_07-2007.pdf)
For more information about the deleterious effects of the minimum wage, please visit:
http://www.minimumwage.com/?utm_source=Google%2B&utm_medium=Ad%2BWords&utm_campaign=Minimum%2BWage%2BAd%2BWords&gclid=CN-WuLbWurECFccBRQod7mIAHw
The New York Times reported that teen unemployment was also adversely affected by minimum wage hikes (http://epionline.org/studies/epi_minimumwage_07-2007.pdf).
Congressman Waxman's ignorance of supply, demand, and the poor track record of government intervention into the economy are causes enough to remove him from office.
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