The $15 Minimum Wage; A Defiance of Basic Economics
Recent calls for a $15 federal minimum wage hike have been emboldened as National House Democrats pass the “Raise the Wage Act” which would gradually raise the federal minimum wage to $15 by the year 2025. If you work at McDonald's, Burger King, or any other entry level job, this may sound like a phenomenal upgrade from $7.25. However, when you realize your purchasing power is all but eliminated and it is almost impossible to find an entry level job due to the un-affordability of low skilled workers, you may have second thoughts about this economically destructive policy.