‘Liberal’ Washington Post: $15/hour minimum wage will put people out of work, hurt poorest people

“We don’t understand basic economics!!!! Fight for 15!!!!”

Well, you don’t say…

Hey, if you still want to blow up your community (and hurt poor people especially) with a $15/hour minimum wage you go right ahead. But when things head inevitably south, and likely quickly, just remember that you were warned multiple times. This time even by The Washington Post.

(From The Washington Post)

According to the 146-page report by Philadelphia-based consulting group PFM, the proposed higher wage would indeed yield benefits for low-wage workers who received it, in the form of reduced stress, greater food security and better mental health. Employers, in turn, could benefit from their workers’ improved morale, in the form of higher productivity. However, there would be offsetting costs and they could be substantial: a loss of almost 47,000 jobs and $396.5 million in total income by 2022, due to workers’ being priced out of the job market by the higher minimum wage. This would spell a reduction of nearly $41 million in expected county tax revenue between fiscal 2018 and fiscal 2022; meanwhile, the county government’s payroll costs would go up $10 million.

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