Visualizing the Real Value of the Minimum Wage

The minimum wage has long been a contentious issue in the United States. On one hand, many are people struggling to make ends meet, and a higher minimum wage could certainly impact the 10 million working poor spread throughout the country. On the other, many economists see a higher minimum wage as any other supply and demand situation: Arbitrarily raising the price of labor limits the demand for it – and in places like Seattle, recent studies have shown that the minimum wage increase is hurting the very people it is supposed to help....