[Ed. – Let them count the ways,]
1. It would be a job-killer.
The Congressional Budget Office report estimated that a $15 minimum wage would lead to 1.3 million lost jobs by the year 2025, with job losses rising over time due to compounding negative impacts.
2. It would create a survival-of-the-fittest labor market.
The report makes clear that a $15 minimum wage would disproportionately harm workers with the least education and experience and those with disabilities because these workers would be the first to be let go — or to never be hired in the first place.
3. It would expedite the pace of automation.
When workers become more expensive to employ, companies have a greater incentive to invest in machinery to eventually replace employees.
With a $15 minimum wage in addition to an Obamacare penalty for failing to provide workers with insurance, plus federally mandated taxes and benefits, the minimum cost of employing a full-time worker would exceed $38,000.