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Economics Jobs

Report: $15 Minimum Wage Would KILL This Many Jobs

Jeff Dunetz
Written by Jeff Dunetz

A Heritage Foundation study examined what would happen to the workforce if Hillary Clinton and her progressive friends were able to enact the nation-wide $15.00 minimum wage idea she stole from Bernie Sanders. And it ain’t pretty.

Heritage’s approach was different rather than look at it on a national basis, they examined what would change on a state by state basis. When the the state results are aggregated we learn that the progressive’s $15.00 minimum would put between 7 and 9,000,000 Americans out of work.

Mandatory $15-per-hour starting wages was once a fringe idea. Politicians of every ideological stripe agreed that it would eliminate too many job opportunities. Nonetheless, recent, union-backed campaigns have pushed the idea into the mainstream. The California and New York legislatures recently passed bills raising minimum starting wages in their states to this level. Several cities, including Washington, DC, have also passed $15-per-hour minimum wages.

In Congress, Senator Bernie Sanders (I–VT) has introduced the Pay Workers a Living Wage Act, which would raise the federal minimum wage from $7.25 per hour to $15.00 per hour over four years. Prominent Senators, including Assistant Minority Leader Dick Durbin (D–IL), have co-sponsored this bill. The Democratic Party has formally included a $15-per-hour minimum starting wage in its 2016 campaign platform. If the policy became law in 2017, the federal minimum wage would rise to $15 by 2021.

Companies hire workers when the additional earnings their labor creates exceeds the cost of employing them. Starting wages of $15.00 per hour mean full-time employees must create at least…

Read the rest of the story at Jeff Dunetz’s blog The Lid

The views expressed in this opinion article are solely those of their author and are not necessarily either shared or endorsed by EagleRising.com


About the author

Jeff Dunetz

Jeff Dunetz

Jeff is a Journalist, Blogger and one of the rare Jewish conservatives in a sea of north east liberal Jews (Thanksgiving dinner is a real pip). Jeff was honored with the 2014 Not For Profit Blogger of the Year award by the National Blogger's Club, is editor/publisher of The Lid (Lidblog.com), contributing reporter at MRCTV.org and Political Columnist for the newspaper, The Jewish Star.

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