New Research Finds Minimum Wage Ballot Initiatives Could Cost 300,000 Jobs In These 4 States
Seemingly no amount of empirical evidence can convince progressives that raising minimum wages to artificially elevated levels is a bad idea. Somehow the basic idea that raising the cost of a good ultimately results in lower consumption of that good just doesn’t compute. Though it does seem odd that progressives in states like California lean heavily on higher taxes as a way to curb, for example, fuel consumption. Could it be that the left actually does understand the basic economics of the minimum wage debate but don’t find the math behind it to be particularly “politically expedient” in certain instances?
Be that as it may, in four states across the country this November voters will decide whether or not to hike minimum wage anywhere from 32% to 60% over the next three years. And, according to research from the American Action Forum (AAF), those wage hikes could cost Arizona, Colorado, Maine and Washington a total of nearly 300,000 jobs. – READ MORE