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The Deadweight Loss of Minimum Wage Hikes

DuaneUrban Wrote: Mar 03, 2013 8:54 AM
This type of gerrymandering does more harm than good. There has been an overall job loss that has nothing to do with minimum wage. Secondly the minimum wages jobs that used be taken by younger people living off their parents to buy little luxury's are now being taken by their parents in a vain attempt to pay the bills.

Has boosting the U.S. minimum wage from $4.25 per hour in 1994 to today's $7.25 per hour helped or hurt the U.S. economy?

To answer this question, we'll be tapping the U.S. Census Bureau's data on the incomes earned by 15 to 24 year old Americans in 1994 and 2011 (which until this September represents the most recent year for which this data is available). Specifically, we'll be considering the size of the Age 15-24 population, the number of 15-24 year olds with incomes and, of course, the federal minimum wage that applied in each...