Why a higher minimum wage beats welfare payments

12/17/2013 | Bloomberg

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A study of welfare payments to the employed shows that fast-food workers are the biggest recipients of government handouts, with well over 4 in 10 workers receiving welfare payments. That's effectively a subsidy for the fast-food industry, and an argument in favor of higher minimum wages, writes Barry Ritholtz. "Raising the minimum wage to $11.33, the poverty level, effectively shifts the cost of eating greasy French fries and overcooked burgers from taxpayers to fast food consumers -- where they belong," Ritholtz writes.

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