Politico reported last night that Democrat leaders Chuck Schumer and Nancy Pelosi will join with notorious leftists Bernie Sanders and Keith Ellison in supporting legislation that raises the nationwide minimum wage to $15/hour.
This is a significant moment since it confirms that the Democrat Party is now in the hands of extreme liberals that have more in common with European Socialism than the free enterprise principles that have guided America for generations.
Not only do pro-business groups recognize that this kind of proposal would have devastating effects on America’s economy…even liberal economists agree!
Alan Krueger, Former Chairman Of Obama’s Council Of Economic Advisors: “The push for a nationwide $15 minimum wage strikes me as a risk not worth taking, especially because other tools, such as the earned-income tax credit, can be used in combination with a higher minimum wage to improve the livelihoods of low-wage workers.”
Gary Burtless, Brookings Institute: “‘It’s very hard to believe that a minimum wage hike to $15 would produce the same adverse impact on employment as a hike to just $10.10’…Indeed, the potential adverse impacts are ‘likely to be considerably bigger’ at $15.”
Neera Tanden, Former Policy Advisor To Hillary Clinton: “Substantively, we have not supported $15 — you will get a fair number of liberal economists who will say it will lose jobs.”
A Heritage Foundation study confirmed that a minimum wage hike of the magnitude that this fringe bill calls for would eliminate 7 million jobs and substantially raise prices for families and businesses.
All today’s bill proves is that all Democrats are now beholden to a far-left-wing base that continues to push for unrealistic and dangerous policies that out-of-touch with mainstream Americans.