President Joe Biden, looking around at how to deal with COVID-19’s assault on the economy, is pushing a program that would abet the assault. It would likely eliminate 1.3 million jobs over time, turn some full-time jobs into part-time jobs, raise prices for consumers, put some businesses out of business and depress entrepreneurial initiative in starting new businesses.

The issue is Biden’s proposed $15 minimum wage that would offer benefits to millions at a significant cost to others, mainly the young and the poor. People cheer and politicians benefit while populist-style progressives pat themselves on the back for supposed compassion that gives the word a bad name. They are afflicted by the Robin Hood mentality – steal from the rich and give to the poor – although they are actually persecuting free markets and taking from the poor. They sadly have an accompanying conviction, namely that central planners are omniscient.

About the writer: Jay Ambrose is an op-ed columnist for the Tribune News Service. Readers may email him at speaktojay@aol.com.

(3) comments

Lanivan

The Raise the Wage Act would have the following benefits:4

Gradually raising the federal minimum wage to $15 by 2025 would lift pay for nearly 32 million workers—21% of the U.S. workforce.

Affected workers who work year round would earn an extra $3,300 a year—enough to make a tremendous difference in the life of a cashier, home health aide, or fast-food worker who today struggles to get by on less than $25,000 a year.

A majority (59%) of workers whose total family income is below the poverty line would receive a pay increase if the minimum wage were raised to $15 by 2025.

A $15 minimum wage would begin to reverse decades of growing pay inequality between the most underpaid workers and workers receiving close to the median wage, particularly along gender and racial lines. For example, minimum wage increases in the late 1960s explained 20% of the decrease in the Black–white earnings gap in the years that followed, whereas failures to adequately increase the minimum wage after 1979 account for almost half of the increase in inequality between women at the middle and bottom of the wage distribution.5

A $15 minimum wage by 2025 would generate $107 billion in higher wages for workers and would also benefit communities across the country. Because underpaid workers spend much of their extra earnings, this injection of wages will help stimulate the economy and spur greater business activity and job growth.

Dr. Vladtheimp

Apparently you hate minority youths who benefit most from entry level jobs and whose employment would be decimated by this mandate.

So, if government bureaucrats have the power to order what private businesses pay employees, you would be fine if they decided, like double or triple masking is required without any science to back it up, they could decide you must pay your employees $30 or $45 an hour.

As a successful entrepreneur and Capitalist, I guess you're just lucky that you didn't choose to operate a restaurant; a bar; a gym; a barbecue stand; a cabaret; etc.

Yea, Buddy

Like Mr. Ambrose said, raising the minimum wage is far from a good idea. Go ask restaurant & bar owners, gas station owners, etc., how they feel about this concept. You'll be laughed at.

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