The study was conducted to assess the impact of a proposal in Montgomery County, Md., to raise the minimum wage to $15, up from $11.50. Such a proposal cleared the county council in January but was vetoed by County Executive Isiah Leggett, who commissioned the study.Liberals love wage hikes-workers, not so much...
The results could strike a blow to ongoing efforts in the liberal-leaning county to hike the wage, finding:
47,000 jobs would be lost by 2022, most of them “low-wage positions”
Lost income would total about $396.5 million by 2022
Lost county income tax revenue would total over $40 million in that time period
“The proposed increase in the County minimum wage has the potential to provide some important benefits,” the study noted. “An increase in earnings for low-wage County workers will have tangible positive impacts for low-income workers and their families. This should also lead to reductions in poverty, improvement in mental health and a reduction in hunger and stress among minimum wage workers.”
But it continued, “… At the same time, it is also projected that the wage increase will lead to a significant loss of low-wage jobs. This loss of jobs would lead to a loss of income among County residents. This also has the spillover effect of reduced income tax revenue for the County.”
Thursday, August 10, 2017
No Jobs In The Suburban Hood
Killing jobs, DC style:
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