A lot of people keep making a big deal about passing a $15 minimum wage, focusing on one small aspect of the issue while ignoring the proverbial 800-pound gorilla in the room: the 107% increase in the federal minimum wage will hurt far more people than it might help. They purposely try to believe the Law of Unintended Consequences will not come into play...this time...and that the effects of such an unprecedented increase in the minimum wage will have no negative effects across the economy and leave the working people this increase was supposed to help worse off than they were before. Will the proponents like Congresscritter AOC (Clueless - NY14) and Senator Bernie Sanders (CPUSA - VT) apologize to those who lose their jobs because of their actions? Of course they won’t. After all, their intentions were good, and that’s all that counts, right? Results aren’t important, right?
What is the reality?
The changes in the minimum wage since the 1950’s has run between 9% and 13%, sometimes changed on a specific date and at other times phased in over a period of two or three years. The changes caused some disruptions, but not all that many. But more than doubling the minimum wage is supposed to have little or no negative effects? Yeah. Right.