The Federal Government even knows it but certainly Progressives live in their own world of denial.
Hiking Minimum Wage an Inefficient Tool to Fight Poverty: Fed Research
by JEFF COX, CNBC
DEC 30 2015, 3:33 PM ET
Increasing the minimum wage is an inefficient way to reduce poverty, according to a Fed research paper that comes amid a national clamor to hike pay for workers at the low end of the salary scale.
David Neumark, visiting scholar at the San Francisco Fed, contends in the paper that raising the minimum wage has only limited benefits in the war against poverty, due in part because relatively few of those falling below the poverty line actually receive the wage.
http://www.nbcnews.com/business/economy/hiking-minimum-wage-inefficient-tool-fight-poverty-fed-research-n488111?cid=sm_tw&hootPostID=d54005cf9aa5678fcc7e97e310e5f2b4
Hiking Minimum Wage an Inefficient Tool to Fight Poverty: Fed Research
by JEFF COX, CNBC
DEC 30 2015, 3:33 PM ET
Increasing the minimum wage is an inefficient way to reduce poverty, according to a Fed research paper that comes amid a national clamor to hike pay for workers at the low end of the salary scale.
David Neumark, visiting scholar at the San Francisco Fed, contends in the paper that raising the minimum wage has only limited benefits in the war against poverty, due in part because relatively few of those falling below the poverty line actually receive the wage.
http://www.nbcnews.com/business/economy/hiking-minimum-wage-inefficient-tool-fight-poverty-fed-research-n488111?cid=sm_tw&hootPostID=d54005cf9aa5678fcc7e97e310e5f2b4