(TargetLiberty.org) – Far-left Democrats have been trying to get a job-destroying $15-per-hour minimum wage passed for years. So far, they haven’t succeeded. Now, a radical candidate has decided to go for broke, and double the demand.
Democratic socialist congressional candidate says $15 minimum wage is 'antiquated': '$30 is the floor' https://t.co/WcgLZ6RBeh
— Fox News (@FoxNews) April 25, 2022
On April 21, Rebecca Parsons, who plans to run for Washington’s 6th District, shared her thoughts about the federal minimum wage on Twitter: “$15 minimum wage is an antiquated demand,” she claimed. “It should be $30 per hour.” Parsons also insisted “nobody should be poor in the richest country on Earth.”
The problem with a high minimum wage is if it’s set too high, it destroys jobs. Economists have calculated that a $15-per-hour minimum wage would eliminate two million jobs in the US, because businesses would simply fire any employee who generated $14.99 profit or less per hour. There’s hard evidence of this; when Seattle brought in a $15 minimum wage in 2017, average hourly pay for low-income workers rose by 43% — but the hours they worked fell by 9%. Workers who got the new minimum lost an average of $125 from their monthly wages.
Now, Parsons wants to set the minimum wage at double that figure — and that means way more than four million jobs will be lost because the number of workers who create less than $30 an hour in profits is a lot more than twice the number who create less than $15.
Parsons says congresswoman Alexandria Ocasio-Cortez (D-NY) inspired her to join the Democratic Socialists of America; now AOC is endorsing her campaign. Is this the final proof socialists don’t understand economics?
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