According to new numbers from the Labor Department, in 2008 only 1.1% of Americans who work 40 hours a week or more even earned the minimum wage. In other words, 98.9% of 40-hour-a-week workers earn more than the minimum. The data also show that teenagers are five times more likely to earn the minimum wage than adults.
http://online.wsj.com/article/SB1000142405297020344010457440...
So the people who are most affected by changes to the minimum wage are teenagers who aren't paying for food and shelter, but looking for disposable income.
Ergo, cutting the minimum wage won't be a boon for new jobs nor will it be cutting anyone's standard of living.
> Ergo, cutting the minimum wage won't be a boon for new jobs nor will it be cutting anyone's standard of living.
Not so fast.
Many of those teenagers are learning to work, which makes their future labor more valuable. If they don't get such skills, they'll never be worth employing.
Also, some of those teens are contributing to their household's income.