America needs a raise. At $7.25 an hour, the minimum wage is 21 percent below its 1968 level. President Obama has proposed raising the minimum wage to $9.00 an hour by 2015, and indexing it to inflation. And the right-wing has responded with one of their favorite zombie lies – always wrong, endlessly repeated.
Speaker John Boehner: “When you raise the price of employment, guess what happens? You get less of it.”
Rachel Maddow: “We can check to see if that argument works… This is empirical. This is knowable. And here’s what we know: Raising the minimum wage basically has little to no effect on the amount of low-wage employment.”
Center for Economic and Policy Research: New Paper Finds Modest Minimum Wage Increases Have Little Impact on Employment