A few months ago, I wrote “Why President Obama can blame President Bush“. However, I was somewhat criticized–and rightfully so–that part of my argument was a matter of correlation that may not necessarily imply causation when I presented this chart (also below) as evidence of minimum wage’s effect on unemployment, thereby blaming President Bush rather for contributing significantly to the worst unemployment in the United States since the early 1980s.

Unemployment-and-Minimum-Wage

Now, over at Political Calculations, they have done the math to show that “the federal minimum wage hikes of 2007, 2008 and 2009 account for 41.8% of the total reduction in jobs seen since 2006″ or 2,234,383 total jobs lost.

Here is a graphical representation of the data from Political Calculations:

number-earning-nom-min-wage-785-or-less-2006-2010

As you can see, while the minimum wage is sold as something to “help those in need”, in reality it destroys jobs, increases unemployment, and deprives the opportunity for many teens and young adults to work, as 49% of workers making minimum wage are 24 or younger.

This destructive policy should be eliminated.

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