During a press conference Thursday Nancy Pelosi, House Minority Leader, vowed to pass the elusive $15 minimum wage within 100 hours if or when Democrats retake The House of Representatives.
Pelosi said, “I’ll tell you one thing for sure: we win the election and in the first 100 hours we will pass a $15 minimum wage.”
Watching this video… short as it may be… and seeing her march back up to the podium as she gets applause from those in attendance, it seemed very desperate to me. Very “attention seeking”.
As written for FutureFemaleLeader.com by Aryssa D:
1) The first minimum wage in 1938 cost between 30,000 and 50,000 jobs.
2) It forces low-skilled people out of jobs, when employers won’t pay $15 to an unqualified worker. If employers are going to pay $15 an hour, they want someone who does a job worth that wage.
3) High-skilled workers who are worth $15 an hour are already employed at jobs that are paid $15 an hour.
4) Businesses would have to charge higher prices to account for rising employment costs, as has been seen in places that already have a high minimum wage.
5) The lower income people who are the ones earning minimum wage would be the ones hurt most by price inflation due to higher minimum wage.
6) Employers would be less likely or less able to offer fringe benefits to their employees, such as time off, sick pay, etc.
7) Empirical research over the past 70 years shows that minimum wage increases tend to reduce employment