As Democrats cave to the most extreme elements of their party & file a bill today for a nationwide $15 minimum wage, it’s important to remember that liberal economists have panned this idea, saying it could have serious economic ramifications:
April 26, 2017
As Democrats cave to the most extreme elements of their party & file a bill today for a nationwide $15 minimum wage, it’s important to remember that even liberal economists have panned this idea, explaining that it could have serious economic ramifications:
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.”