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5 Myths About Minimum Wage

By Anna Hall
J.Simunek/Shutterstock
A common myth regarding raising minimum wage is that it's bad for the economy. J.Simunek/Shutterstock
Jan 8, 2014
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It’s a new year, and Congress is back in session.

One of the top issues expected to be debated in 2014 is a hike to the federal minimum wage. 13 states have instituted wage increases. President Obama has supported raising the minimum wage throughout his presidency. Most recently, he shared his approval of new legislation proposed by Sen. Tom Harkin and George Miller (D-Calif.) that would raise the minimum wage to $10.10, up from it’s current $7.25. 

Critics of the Harkin/Miller bill are quick to decry any wage increase. The usual arguments are trotted out to combat progressive pay for low-wage earners. Here are five commonly perpetuated myths about minimum wage. Hopefully, their exploration will shed a more accurate light on this contested issue.

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A common myth regarding raising minimum wage is that it's bad for the economy. J.Simunek/Shutterstock
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