minimum wage myths

The Truth About The

Floyd Saunders, Newton, KS

Myth #1

You can live on the minimum wage

.

Myth # 2

Minimum wage workers

are teenagers

INCREASING THE MINIMUM WAGE WILL CAUSE PEOPLE TO

LOSE THEIR JOBS.

Myth #3

What 600 Economist Say

64 studies on minimum wage increases found no discernable effect on employment.

600 economists support of raising the minimum wage to $10.10 by 2016.

SMALL BUSINESS OWNERS DON'T SUPPORT AN

INCREASE IN THE MINIMUM WAGE.

Myth # 4

A June 2014 survey found that more than 3 out of 5 small business owners support increasing the minimum wage to $10.10.

The Truth

• Small business owners believe that a higher minimum wage would benefit business in important ways: – 58% say it will increase consumer purchasing power. – 56% say it would help the economy. – 53% agree businesses would benefit from lower

employee turnover, increased productivity and customer satisfaction.

http://www.smallbusinessmajority.org/small-business-research/minimum-wage/

INCREASING THE MINIMUM WAGE IS

BAD FOR THE ECONOMY

Myth #5

• Since 1938, the federal minimum wage has been increased 22 times. For more than 75 years, real GDP per capita has steadily increased, even when the minimum wage has been raised.

• Minimum wage increases have little to no negative effect on employment as shown in independent studies from economists across the country. Academic research also has shown that higher wages sharply reduce employee turnover which can reduce employment and training costs.

INCREASES IN THE MINIMUM WAGE DOES

NOT RESULT IN WEALTH.

Myth # 6

Conclusion

• The positive effects of a higher higher minimum wage are clear: – It would boost the earnings of working families– Spur economic growth– Create about 100,000 net new jobs.

• Raising the minimum wage an opportunity that America cannot afford to lose.

About the Author

• Floyd Saunders is the author of several books including:– Figuring Out Wall Street– Family Financial Freedom– College Without Ramen Noodles

• Learn more about floyd at • www.floydsaunders.com • http://about.me/floyd_saunders• LinkedIn: http://www.linkedin.com/in/floydsaunders• Twitter: https://twitter.com/floydsaunders• Slideshare: http://www.slideshare.net/FloydSaunders/

slideshows/