The House passed a bill today to hike the federal minimum wage to $15 per hour.
The Democratic-controlled House passed the plan in a 231-199 vote. Six Democrats opposed it, while three Republicans supported it.
The measure would gradually hike the U.S. pay floor to $15 by 2025, then index further hikes to median wage growth.
Of course, minimum wage laws do nothing but prevent those with limited skills from finding work at high pay levels that businesses can only afford to pay higher-skilled workers.
High minimum wage laws are particularly harmful to government-schooled urban black youth.
Even at present minimum wage levels, the minimum wage is damaging to black youth.
As can be seen in the chart above, general unemployment in the US is presently only 3.7% while teenage black unemployment is 19.9%. Hiking the minimum wage will only make matters worse for them.
Fortunately, the bill has little chance of becoming law before next November’s election. Senate Majority Leader Mitch McConnell has no plans to bring the legislation up in his chamber.
-RW
UPDATE
(ht @JimOstrowski)Watch @ThomasSowell debate minimum wage laws: pic.twitter.com/AYUFqBlfR9— Thomas Sowell (@ThomasSowell) July 19, 2019
Murray was right!!!
ReplyDelete$100.00 / Hour or bust.
Black people earning their living is so racist! This has to be prohibited.
ReplyDeleteLove it!
ReplyDelete