The effects of a minimum wage on an economy are bad

C1: teenage unemployment Let's look at Milton's theory, if you raise minimum wage the least skilled will be the most effected. Well teens fit in this. But let me use raw numbers: "Congress began raising the minimum wage from $5.15 an hour in July 2007, and there are now 691,000 fewer teens working." (1) Now let me act as an employer: "you are worth 5$ an hour with the skill you have, now the min wage is 7$. That would be -2$ every hour, and hiring you would be charity." now charity is good but most employers cannot afford the extra money per hour. "These studies were exhaustively surveyed by the Minimum Wage Study Commission, which concluded that a 10% increase in the minimum wage reduced teenage employment by 1% to 3%." (2) a 10% increase raises teen unemployment by 1-3%. Now this was over a 50 year period, so every time it raises teen unemployment does too, this disproves a economic down turn is fully responsible. C2: minority unemployment Now I will stress once again: a minimum wage raises unemployment, especially towards low skilled workers(3) Sadly minorities in this country are less educated, so it would hurt them. Minimum wage laws effect ethnic minorities the most. (4) As the minimum wage effects the least productive, miborities are more likely to be effected by these laws. (5) it also effects poor areas most, which are full of miborities, therefore affecting them. (5) " The evidence to support this is overwhelming, and it is the black community that is the hardest hit" (6) The refers to the minimum wage sorry the whole paragraph was long and I only needed this part. C3: overall unemployment "Estimates of the job losses of raising the minimum wage from $4.25 to $5.15 have ranged from 625,000 to 100,000 lost jobs. " (7) So this makes sense. The raise would disqualify people who are worth less than 5$ from getting a job. Only 1 study has reversed 300 years of min wage research, other economists tried to duplicate this study, but couldn't, all other studies indicated minimum wages increase unemployment. (7)(8) It is almost a fact. It is well documented the minumum wage increases unemployment. (10) C4: causes more school drop outs One rarely talked about idea is that the minimum wage causes more highschool drop outs. (7) (9) (10) Now how does this hurt the economy? A less educated populous leads to economic defeciencies as you will not have the nessacary skills in life. Really simple. as I am on my phone I will just end. Vote pro! Next round 1 new argument may be added on my part. Sources: http://online.wsj.com... (1) http://www.house.gov... (2) http://winteryknight.wordpress.com... (3) http://mises.org... (4) http://hispanicpundit.com... (5) http://www.thefreemanonline.org... (6) http://www.house.gov... (7) David and William Wascher, The Effect of New Jersey's Minimum Wage Increase on Fast-food Employment: A Re-evaluation using Payroll Records. National Bureau of Economic Research: Cambridge, MA, 1995. (8) Neumark, David and William Wascher, The Effects of Minimum Wages on Teenage Employment and Enrollment: Evidence from Matched CPS Surveys. National Bureau for Economic Research: Cambridge, MA, 1995. (9) http://www.heritage.org... (10)