OPINION: A $15 Minimum Wage Would Have Dire Consequences

Avery Klatsky, Senior Editor

For several years, there has been a large push by the political left in favor of “the fight for 15,” that would raise the national minimum wage to $15 per hour. Implementing a $15 minimum wage would be disastrous for the country and raise several problems in the United States economy. Here is why they should not raise the minimum wage.

Firstly, raising the minimum wage would not increase the living stages of individuals. In fact, it would increase the unemployment rate in the United States. If employers were forced by the government to pay their employees $15 per hour, you would soon find that several companies, small businesses especially, would begin laying off some of their employees. This would be due to the fact that they would not have as much income to pay their workers when compared to a state where the minimum wage is lower. The amount of outsourcing would also rise, as employers in America would be able to save a lot of money by hiring more people outside the United States at much lower rates of pay.

Secondly, raising the minimum wage would drastically raise the amount of inflation in the U.S. dollar, which would lead to higher prices for everyday products. If business owners had to pay their workers $15 an hour, they would—as mentioned above—have a smaller workforce. Because of this, they would presumably have fewer products to sell and not as many resources to reach out to potential consumers. This would cause businesses to raise the price of their products in order to make the money back that they could’ve made had there not been a minimum wage of $15 per hour.

Finally, implementing a higher minimum wage would justify giving the federal government more power over the American economy. It was never the government’s job to regulate or forward economic policy in the United States, and Congress ought to hold the same precedent regarding the minimum wage.