Why Biden’s $15 minimum wage could DESTROY our suffering economy
President Biden s $1.9 trillion dollar relief plan includes calls to raise the federal minimum wage to $15 dollars an hour, something Senior Fellow at the Manhattan Institute, Brian Riedl, tells Glenn is economic malpractice. During his discussion with Glenn, Riedl explains WHY a minimum wage so high could destroy already suffering businesses (like restaurants), how much it would cost, and why it doesn t make ANY sense for states like Mississippi. Plus, Riedl reveals the latest, SHOCKING federal government spending numbers, adding that at some point, the system just can t hold up.
Restaurants have faced strict capacity limits and customers hesitant to return to in-person dining, making it more difficult for tipped workers to increase their earnings.
it is unsurprising that some lawmakers are flippantly considering implementing minimum wage increases
Most state legislatures are kicking off 2021 focused on economic matters after a highly tumultuous 2020. Every state in the union experienced a shortfall in 2020 tax revenues due to the pandemic. Although some states fared better than others, lockdowns wreaked havoc and economic devastation that continues to this day.
Americans desperately hope that in 2021, lockdowns will be lifted. Americans also hope the new year will bring better economic times and opportunities.
Therefore, it is unsurprising that some lawmakers are flippantly considering implementing minimum wage increases in a misguided attempt to provide relief to their struggling constituencies.