January 17, 2019

TAX WHAT YOU DON'T WANT:

Study: Dem Wage Hike Will Cut 2 Million Jobs (Bill McMorris, January 17, 2019, Free Beacon)

Prof. David Macpherson, chairman of Trinity University's economics department, said that such an increase would be unprecedented, but not in the manner Sanders describes. While only 3 percent of hourly workers work under the minimum wage today, the increase would instantly bring 44 percent of them under that umbrella. Despite that large increase, it would not alleviate the poverty rate as employers, particularly small businesses, eliminated jobs to offset the increased costs. Macpherson, using Congressional Budget Office methodology, found that 2 million jobs would be lost under a $15 rate with the most heavy losses coming in poorer states.

"The job loss would be greater in Mississippi than wealthier states like New York," he said.

The higher we can drive minimum wages the quicker we can displace humans from the workplace.

Posted by at January 17, 2019 12:56 PM

  

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