MAGRUDER: “And I want everybody to take the time, after you leave here, take the time to research on all your candidates, wherever you live. Wherever you live, you got to find out who’s running for office and who’s running in your area. Who’s supporting raising the minimum wage. I, for example, support raising the minimum wage to 26 dollars and 80 cents per hour. Because we all know this ladies and gentleman, 15 dollars an hour is just a start, it’s not enough, especially here in Richmond.”
As we’ve seen time and time again, hiking the minimum wage solves little in terms of helping those at the bottom rung.
Seattle demonstrated this after they raised their minimum wage to $15. According to a study by the University of Washington, the Seattle wage hike ended up costing minimum wage earners $125 each. It also showed that should Seattle not have adopted the wage hike, it would have created 5,000 more jobs, equaling out to 3.5 million hours of work.
Heritage foundation reported on a study that showed what would happen if Virginia adopted a $15 an hour minimum wage hike, and the results are just as frightening with a loss around 221,000 jobs.
And that’s just if it was a $15 an hour wage hike. What damage a $26 wage hike would do would definitely be worse still.