Succinctly stated........ Especially in light of the fact the minimum wage really ought to be like $4.28 / hr in the original spirit of the idea in 1938.
http://theweek.com/articles/616528/democrats-have-lost-minds-over-minimum-wage
Progressives have gone crazy over the minimum wage.
President Obama got the ball rolling when he called for hiking the federal minimum wage from $7.25 to $10.10 per hour. Now, both Democratic presidential candidates are trying to one-up him, with Bernie Sanders demanding a $15 federal wage and Hillary Clinton $12. Meanwhile, California and New York have already passed laws mandating the Bernie rate, and scores of cities across the country are clamoring to follow suit.
And all the while, minimum wage advocates are making increasingly fanciful claims on behalf of their beloved laws.
The left's minimum wage obsession dovetails with a shifting academic consensus that until the 1990s considered such hikes a recipe for killing jobs, especially for low-skilled workers. For a long time, the generally accepted rule of thumb was that, all else remaining equal, every 10 percent increase in the minimum wage would decrease low-skilled employment by 1 to 2 percent, since the more employers had to pay these employees, the fewer jobs they could afford to provide.
http://theweek.com/articles/616528/democrats-have-lost-minds-over-minimum-wage
Progressives have gone crazy over the minimum wage.
President Obama got the ball rolling when he called for hiking the federal minimum wage from $7.25 to $10.10 per hour. Now, both Democratic presidential candidates are trying to one-up him, with Bernie Sanders demanding a $15 federal wage and Hillary Clinton $12. Meanwhile, California and New York have already passed laws mandating the Bernie rate, and scores of cities across the country are clamoring to follow suit.
And all the while, minimum wage advocates are making increasingly fanciful claims on behalf of their beloved laws.
The left's minimum wage obsession dovetails with a shifting academic consensus that until the 1990s considered such hikes a recipe for killing jobs, especially for low-skilled workers. For a long time, the generally accepted rule of thumb was that, all else remaining equal, every 10 percent increase in the minimum wage would decrease low-skilled employment by 1 to 2 percent, since the more employers had to pay these employees, the fewer jobs they could afford to provide.
