The latest Bloomberg Businessweek takes U.S. Rep. Michele Bachmann to task for suggesting in 2005 that eliminating the minimum wage “could potentially virtually wipe out unemployment completely.”
The article focuses on the likely impact of the end of a government-mandated minimum wage on the official unemployment rate, and it finds Bachmann’s assertion dubious. But Businessweek ignores the more important fact that the minimum wage hurts those it’s designed to help.