Higher hourly pay may not help fix poverty

Published Updated 6 Min Read

Raising the federal minimum wage to $15 probably won’t fix poverty, and might actually hurt poor people instead.

That’s the message of Ryan Young’s Oct. 2 article, published by the Competitive Enterprise Institute. Raising the minimum wage is a top policy issue at the local, state, and now federal level. A current bill, the Raise the Wage Act, would phase in a higher national minimum wage, to a maximum $15 an hour by 2024.

Ingrid Case

Ingrid Case, a Financial Planning contributing writer in Minneapolis, is a former senior editor for Bloomberg’s Markets Magazine. Follow her on Twitter at @CaseIngrid.


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