1 - Increasing the minimum wage to $10.10 would reduce jobs by 2016 by 500,000.
2 - Increasing the minimum wage to $10.10 would apply to 16MM people and 1MM of this group would then be above the poverty line.
3 - Families with minimum wage workers often are above the poverty line ($24K for family of four). 20% of a minimum wage increase would go to families that are below the poverty line.
4 - Raising the minimum wage to $9 and the $10.10 would reduce job loss to 100,000.
As with any analysis of this type there are assumptions and one can quibble with these but no matter how one slices and dices it raising the minimum wage is not a "golden dawn" or "teotwawki". Most importantly imo is that this is not a job creator which is what the government should be addressing.
Edited by colion, 05 May 2014 - 06:06 AM.