Wednesday, May 31, 2006

John Stossel A Liar?

It seems obvious to me, but you decide. From David Sirota's book, Hostile Takeover: (Hey, new guy, how about some reports on the book?)
“In a comprehensive 2004 study, the nonpartisan Fiscal Policy Institute reported that since 1997, states that had boosted their minimum wage above the federal minimum actually created jobs faster than those that did not. In higher minimum wage states, employment grew by 50 percent more than it did in states still at the pathetic federal level. Even in tough economic times, the minimum wage doesn’t hurt jobs: Princeton University economist David Card found that even the minimum wage increases during the 1990-91 recession ‘were not associated with any measurable employment losses.’ As Republican Sen. Arlen Specter (PA) once noted, “history clearly demonstrates that raising the minimum wage has no adverse impact on jobs.”…In Oregon, for instance, the state raised its minimum wage in 1998, and the average earnings of newly-employed welfare recipients climbed by 9 percent, while the percentage of welfare recipients who found a job actually rose.”

1 comment:

Anonymous said...

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