|Walmart actual motto: "Always Low Wages".|
Whenever there is talk of raising the minimum wage, you will routinely hear from the so called business experts at groups like the Nation Chamber of Commerce or the Heritage Foundation about how raising it will just hurt small business and cost jobs. Another common refrain is that the minimum wage is only paid to teenagers just starting off in the job market, which would make one think that the majority of small businesses is run by nothing but teenage kids. What is the truth?
As we can see by this table that the majority of minimum wage workers in America work for Fortune 500 companies, not mom and pop stores. Additionally according to the US Bureau of Labor Statistics only about half of the people making minimum wage or below are 25 years old or under.
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