The False Promise of the Minimum Wage Hike

I. Introduction Last week, the United States House of Representatives passed legislation raising the Federal minimum wage to $15 per hour by 2025. Contrary to what the Democrats would have you believe, this is less about compassion for low-skilled workers and more about the dearth of economic literacy. If you think a $15 minimum wage is a good idea, why not $1,000 or $2,000? No workers will be hired at that wage, but progressive politicians can claim that but for greedy businesses low-skilled workers would have prospered.   The decision to raise the minimum wage is a value judgement -- a conscious decision to have fewer working at a higher wage than more working at a market-based wage. This is ironic coming from a party that decries the elitist policies of those on the other side of the aisle. The worst sin of the great many sins perpetuated in Washington is committed by those who worsen the plight of workers on the lower rungs of the economic ladder with false promises...(Read Full Article)
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