To my friends who continue to deny history. The real job creators are consumers spending their income. In 1949 minimum wage was increased by 87.5%. Supply side economists warned of an economic disaster but of course that didnt happen. GDP dipped by 1.6% then grew by 13% the next year. This is one of the best examples in a pile of evidence that raising the minimum wage does not kill jobs, does not shut down businesses. Again and again we and other economically successful countries have raised minimum wages and it continues to help low income workers and increase standards of living for citizens, and the economy continues to grow. The evidence is clear.
Posted on: Thu, 24 Oct 2013 04:10:29 +0000
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