peel.

Impact of Raising the Federal Minimum Wage

According to Gary Burtless:
“…A common complaint that you sometimes hear from businessmen who have to pay the minimum wage is it’s going to raise their costs and hurt them. I think they sometimes forget that, well, the same increase in costs is being faced by all of their competitors and so the competitive situation of these employers is not as bad as they suggest. The second thing to bear in mind is that if you take all of the wages paid to all of the minimum wage workers in the United States and you add all of those wages together, it is a very trivial part of the total wage bill of American businesses and so the effects on prices in the United States are also likely to be very, very tiny.”