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Minimum-Wage Laws Are Costly For The Unemployed

deestafford Wrote: Jul 11, 2012 6:57 PM
A few ;points here: Many don't realize it but numerous union contract wages are tied to "X times the minimum wage. So not only does the cost of hiring minimum wage individuals go up but everyone's wage on that particular job that has that in its contract. You often hear that "You can't wage a family on 'such-and-such' amount that is the current minimum wage. Well, if a person is qualified to earn only the minimum wage they should not have a family. With all the benefits that people can receive now being out of work is not painful. When your bellybutton is chewing on your backbone you go find a way to earn money. Which many times is hampered by the minimum wage requirement. If a person does not earn about twice as much as their...

CONGRESS ENACTED the first federal minimum wage in 1938. A provision of the Fair Labor Standards Act, it covered about 6 million workers and set a wage floor of 25 cents per hour.

It also cost a lot of people their jobs. The Labor Department reported that as many as 50,000 employees, mostly poor Southern blacks, were thrown out of work within two weeks of the law's taking effect. In the months that followed, the carnage spread. "African Americans in the tobacco industry were particularly hard hit," wrote David Bernstein in his 2001 history of labor regulations...