Those who believe raising the minimum wage will help the economy favor it even if it costs a half a million jobs. Those who believe raising the wage will hurt the economy oppose the raise even more strongly if it affects jobs.
Those who believe the minimum wage is intended to be a wage people can live on are more likely to favor an increase to bring 900,000 above the poverty line even at the cost of 500,000 jobs.
Not surprisingly, those who make under $30,000 per year tend to support a minimum wage increase even if it costs people jobs. What is surprising is that those who make over $100,000 are equal supportive, even at the expense of 500,000 jobs.
While investors and non-investors are closely divided on the subject of raising the minimum wage, investors are more likely to oppose the wage increase if it will cost workers their jobs.
Friday, February 28, 2014
What America Thinks: Is Raising the Minimum Wage A Blessing or A Curse?
To raise or not to raise the minimum wage from $7.25 to $10.10 an hour, that's the question. But it's not quite that simple following a new government report that says an increase in the minimum wage would move 900,000 people above the poverty line but also would cost half a million people their jobs. What does America think?