Failing to understand that raising the minimum wage also raises unemployment and in general hurts the economy goes beyond economic illiteracy and into the realm of cognitive deficiency. Surely any reasonably intelligent sixth grader could predict that if authoritarian bureauweenies demand unskilled workers be paid more than the market determines their labor is worth, many will be out of job. Many others will never find a job in the first place. Those employers who are unable to pay the inflated wage or to function without low-wage employees will be forced out of business. Then there is the danger of sparking runaway inflation. Democrats understand all this — as a WikiLeaks revelation confirms:
The head of the liberal Center for American Progress privately warned Democratic presidential nominee Hillary Clinton’s campaign staff against endorsing a $15-an-hour minimum wage, saying that it would be bad for the economy.
Despite that, both the Clinton campaign and the center have since promoted state and local activists’ efforts to push a $15 rate, and Clinton has even said she would sign $15 federal legislation.
Neera Tanden made the warning in an April 2015 email to top Clinton campaign staffers John Podesta, Robby Mook, Jake Sullivan and Jennifer Palmieri. The five were discussing a recent email from New York Mayor Bill de Blasio that gave them a heads up on a rally he was planning that would promote, among other issues, a $15 federal minimum wage. That would more than double the current federal rate of $7.25. …
Tanden is president of the center and its sister organization, the Center for American Progress Action Fund, both of which are aggressive, well-funded advocates of liberal issues. It was founded by Podesta, who took a leave of absence from the organization to join the Clinton campaign.
Podesta is chairman of the campaign.
A $15-dollar minimum wage, isn’t just a dumb idea; it is a wicked idea. Shrillary, Podesta, and the rest know full well that the consequences would be economically devastating. They don’t care, because unemployment means government dependence, and government dependence means Democrat votes.
On a tip from TrojanMan.