Minimum wage hike would kill thousands of jobs in liberal DC suburb, study finds

John Adams famously opined that "...Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence..." You may not like the realty that raising the Minimum wage to an arbitrary figure of $15.00 IAW Keynesian Economic Theory will inexorably result in a cascading negative economic drain. However, facts are the facts nonetheless.

https://www.forbes.com/sites/timworstall/2015/08/07/a-15-minimum-wage-would-cost-6-6-million-jobs-yes-6600000-jobs/#594332763db7

LTC Orlando Illi - I recognize that it will have an impact on the market, that it will speed the rate of automation, raise some prices and cause some businesses to hire less employees. I don't believe any of that is sufficient justification to pay someone less than $15 an hour.

SSG (Join to see) - You are to be commended sir. So tell me what small business will you open to pay your employees $15.00 minimum wage? What will your profit margin be? How will you afford to continue pay this wage if your sales to after taxes expenses ratio drops below minimum? Will you the reduce employees? Employ automation? Raise prices and potentially price yourself out of the market?

I will have a hard time raising my prices to cover increased labor costs if my competitors are not doing the same. That is why it's important that the minimum wage to be a decent salary.