The Grumpy Economist: Two cents on the minimum wage

What caught my eye is the “family with two kids,”  “…millions of working families.” It paints a grim picture: mom, dad, two kids, trying to survive one wage earner’s full-time minimum-wage job.

My thought: What planet do the president’s advisers live on? Come take a look, say, at the south side of Chicago, where I grew up and live, and where President Obama spent many formative years as a community organizer and so knows it even better. Is the first-order problem of these neighborhoods that its residents live in intact families with two kids, one full-time wage earner, trying to live on the wages from a full-time minimum wage job, but  having a tough time making ends meet? Is there anyone like this?

The tragedy of the neighborhoods around where I live, and President Obama used to live, is the vast number of people with no job at all.  How does raising the minimum wage for the few who have a minimum-wage job help the vast majority who have no job at all?

via The Grumpy Economist: Two cents on the minimum wage.

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