Column: The claim that if wages go up, jobs will go down is not a theory — it’s a scam
“There is nothing “experimental” about raising the minimum wage. The federal minimum wage has been raised 22 times since it was first established in 1938 (state and local minimum wages have been raised hundreds of times), sometimes by as much as 87.5 percent in a single year — far more than the annual increases $15 advocates propose. So if the minimum wage opponents were correct, it should be incredibly easy to find overwhelming empirical evidence that minimum wage hikes cause the job losses they always predict […]
“In a 2014 letter to President Obama and congressional leaders signed by more than 600 economists (including seven Nobel Prize winners), the authors concluded that ‘the weight of evidence now show[s] that increases in the minimum wage have had little or no negative effect on the employment of minimum-wage workers, even during times of weakness in the labor market.'”
Opponents of the $15 minimum wage claim that if the minimum wage goes up, jobs will go down. But this is simply an intimidation tactic used by employers to keep wages down and keep profits high.
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