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"WISHFUL ECONOMICS"

 2/14/21

Without question, raising the minimum wage is long overdue - I would recommend something like $11 an hour. The number in the current Democratic Covid-19 relief proposal is $15 an hour - which is reasonable for states like California or New York, but is way too high for most of the country. Suddenly everyone making around $15 an hour will expect a bump of several dollars an hour from their employer lest they be making minimum wage, and how many employers can actually afford to do that? If passed, you will see many businesses unable to raise wages and either fold or cut jobs, hours and benefits. The lucky few who are left employed will be paid well, but most of their money will probably be going towards acquiring more expensive health coverage since their employer plans would likely have been eliminated. The fundamental problem with the $15 an hour proposal is that it's based on the false presumption that every business is so awash in profits that they could easily adapt to it.