Monday, August 07, 2017

The Liberal Job Loss Plan

If you really want to kill jobs, this will do it:
A bill by Montgomery County Council member Marc Elrich, a Democrat, would raise the current minimum wage from $11.50 to $15 an hour, the Washington Post reported. According to a study released by Philadelphia-based economic consulting group PFM on Aug. 1, not even the county’s wealth can save the 47,000 minimum wage jobs that would be lost.

According to the Post, PFM’s study revealed that should the minimum wage be raised to $15, the loss of income would place in the hundreds of millions:

PFM found that increasing the minimum wage to $15 would result in an aggregate loss of $396.5 million of income in the county by 2022 as businesses laid off employees, cut remaining employee hours and benefits, and suspended plans to invest in new locations and hire additional workers.

Democratic County Executive Isiah Leggett ordered the study done in January after vetoing a minimum wage hike bill from Elrich that passed the city council 5-4.
Wage hikers, take a hike...

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