Democrats Call for $15 Federal Minimum Wage Increase in Philly
Last week, the Democrat Party held their convention in Philadelphia to nominate Hillary Clinton for President. During the campaign trail, Secretary Clinton called for a $12 an hour federal minimum wage hike while Senator Bernie Sanders supported the higher $15 an hour wage hike.
As it turns out, Sen. Sanders was able to negotiate with Clinton and amend the official platform of the Democrat Party to support a $15 an hour federal minimum wage to be enacted over time. The “fight for 15” seems to have won out with Democrats, and business owners and their workers should be very concerned.
Secretary of Labor Thomas Perez recently stated “we should raise the minimum wage even if it makes your hamburger more expensive.” Comments like this and the platform of the Democrat Party overlook or simply ignore the negative consequences a minimum wage hike would cause.
Studies show and the Congressional Budget Office (CBO) has already concluded, raising the minimum wage to $10.10 an hour could reduce employment by up to 1 million workers. Heritage Foundation research fellow James Sherk recently concluded that a $15 an hour minimum wage would eliminate 7 million jobs!
Raising the federal minimum wage would do more harm than just raise the cost of your hamburger. Millions of low-skilled workers, the most vulnerable of society, would be laid off, many small business owners and even franchise owners would be forced to close their doors, and yes prices would rise for consumers.
Congress should reject any attempts from lawmakers to raise the federal minimum wage and instead allow business owners and employees to freely negotiate compensation that’s right for them.