Sunday, January 07, 2018

"So If You Are Genuinely Worried About Killing Jobs, Our Current $7.25-an-Hour Minimum Wage Is Arguably Far Riskier Than $15"

"For decades, our minimum-wage debate has been dominated by ideology—the zero-sum claim that if wages go up, employment must inevitably go down—leading even many progressives to believe that the minimum wage is at best a necessary trade-off between fairness and growth.
"But 78 years of evidence demonstrates that this old trickle-down model just isn't true. On the contrary: When workers have more money, businesses have more customers and hire more workers. That is the virtuous cycle that has always described the way market economies actually work."

In a 2016 Business Insider article, Nick Hanauer writes that "[o]f the nearly two dozen federal minimum-wage hikes since 1938, total year-over-year employment actually increased 68% of the time."

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