Here we go…
The Democrats in Congress introduced legislation on Thursday that would increase the minimum wage to $15 an hour by 2024. According to the Washington Examiner, the bill would gradually phase in the $15 wage within the next six years from the present rate of $7.25.
If passed, it would be the biggest federal minimum wage hike in United States history.
So far, the bill has 152 House co-sponsors and 35 Senate co-sponsors. Experts say that it will likely die in the House or Senate because Republicans control both.
Vermont Independent Senator Bernie Sanders said that it was time Washington raised the minimum wage since politicians haven’t done it in about a decade.
“What we are here today to say is that a living wage is $15… if you are working 40 or 50 hours a week, you should not be living in poverty,” Sanders said.
Of course, Bernie Sanders only pays his interns $12 an hour (SEE: Bernie Sanders internship pay hypocrisy in Fight for $15 crusade).
House Minority Leader Nancy Pelosi scoffed at suggestions it would cost jobs.
“This increase to the minimum wage is the biggest stimulus that we can give to the economy,” she said.
Of course, she doesn’t want to pay her own staff the minimum wage.
It is utterly amazing that the Democrats would prefer to have millions of Americans, particularly minorities, youth, uneducated and unskilled, to be unemployed at $15 an hour than employed at $7.25 an hour. As legendary free market economist Murray Rothbard called it, the minimum wage is compulsory unemployment.
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