By voting in favor of a $15 minimum wage on Thursday, House Democrats crossed the line from politicians to activists. By any measure, doubling the entry-level wage floor while ignoring the geographic cost of living differences across the country is a radical position. Small business owners and their employees will be the chief victims of Democrats' activism on this issue.
As the Congressional Budget Office confirmed last week, a $15 minimum wage is terrible policy. It would cost up to 3.7 million jobs, reduce family incomes by $9 billion, and prevent many people from gaining the valuable training experience that accompanies entry-level jobs. It would weaken the first rung of the career ladder for those who need it most.
Read Full Article »