This article adds additional insight into dramatically raising the minimum wage. One of the eye-popping statistics found in this article is that “Last year, New York passed legislation that will raise the minimum wage to $15 by 2018 for almost all businesses in the Big Apple. Schnipper’s Quality Kitchen, a New York burger chain, is already making tough cuts to compensate for this added expense, as The Post reported last week. As Schnipper’s labor costs increase, the burger joint has reduced its workforce by 10 percent. It’s also cut hours for its existing staff and increased prices on the menu.”

This isn’t surprising. It’s predictable. What’s disappointing is that the activists that “promised our poorest workers a living wage. But early evidence suggests that, however well-intentioned, the movement has actually resulted in lower wages and less opportunity.”

That isn’t all. The article also cites the fact that “the minimum wage rose to $12 in New York City for fast-food workers. Since then, job growth has been a sleepy 2 percent, the Employment Policies Institute reported this month.”

The fact that dramatic minimum wage increases are a significant part of the Democrats’ economic plan (especially Bernie Sanders’, Elizabeth Warren’s and Hillary’s plans) should frighten voters. Usually, it’s talked about under the heading of income inequality, which is another way of saying stagnant economic growth. The visceral hatred towards employers in Bernie Sanders’ and Elizabeth Warren’s message is the opposite of Ronald Reagan’s economic message.

Reagan rightly said that you can’t love jobs and hate the employers. Dramatically increasing the minimum wage is the equivalent of hating employers. Those facts are indisputable.

Technorati: Minimum Wage, Fight For $15, Activists, New York City, Seattle, Elizabeth Warren, Bernie Sanders, Hillary Clinton, Income Inequality, Democrats

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