Why a $15 Federal Minimum Wage Would NOT Help the Economy

Why a $15 Federal Minimum Wage Would NOT Help the Economy

(NewsReady.com) – On February 10, Democrats in the House moved forward with a plan to increase the federal minimum wage from $7.25 per hour to $15 per hour. The Left claims it’s going to lift 900,000 people out of poverty, and that’s possible. However, data shows the damage would outweigh the benefits.

According to a February 8 report by the Congressional Budget Office (CBO), raising the minimum wage to $15 per hour will cause a 1.4 million reduction in jobs.

The report means even more people will be out of work as the country tries to recover from the coronavirus pandemic. And when people aren’t working, they aren’t spending, which drags the whole economy down. Additionally, it will reportedly make it more difficult for people who are just entering the workforce to find jobs. That means the Left is going to be hurting those young, enthusiastic people who voted for them in 2020.

President Joe Biden and the Democrats should focus their time on creating jobs, not eliminating them. After all, that’s what Americans really need.

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