Great idea. Lay the higher minimum wage burden on small businesses, then contrive to have the taxpayers subsidize the small businesses for their losses. Brain dead doesn’t seem too harsh a verdict for this sort of thinking.
The Vermont Department of Disabilities, Aging & Independent Living testified that if the Vermont Legislature were to adopt a $15 minimum wage, as is seems poised to do, “it may also result in unintended consequences.” That’s an understatement.
S.23 proposes raising the minimum wage to $11.50 on Jan. 1, 2020, and then annually until it reaches $15.00 on Jan. 1, 2024. Following those increases, the legislation calls for increases in the minimum wage of 5 percent or the percentage of increase of the Consumer Price Index.
In 2019, 19 states are increasing their minimum wage rates, a trend Congressional Democrats hope to continue by also introducing federal legislation to raise the minimum wage nationwide by 2024.
Democratic lawmakers have long been in favor of a higher minimum wage, but few have gone so far as to call for doubling it. Until now.
Durgin-Park, a renowned Boston restaurant, has been around for a long time. It opened in 1827, when Massachusetts’ own John Quincy Adams was president of the United States.
Sen. Bernie Sanders is back again, with yet another attempt to indirectly mandate the $15 an hour minimum wage. It’s called the Stop WALMART Act, or Stop Welfare for Any Large Monopoly Amassing Revenue from Taxpayers Act.
Minimum wage jobs are intended to be short-term, until the employee gains the necessary skills and experience to take on more responsibility. The minimum wage was not created to provide a permanent wage.
It is ironic that some of our legislators are again promising to pass a very high state minimum wage of $15 per hour. After all, the origins of minimum wage laws were rooted in institutionalized racial discrimination.
A 2016 Heritage Foundation analysis found that more than doubling the federal minimum wage from $7.25 to $15 would cause 7 million workers to lose their jobs.
The Joint Fiscal Office calculated that a couple working full time in minimum wage jobs with one school-aged child would see an annual income increase by $1,155 in the first year of proposed minimum wage increases, but they would lose $1,334 in benefits.