Home
/
RELIGION & LIBERTY ONLINE
/
Economists agree: Don’t raise the minimum wage to $15
Economists agree: Don’t raise the minimum wage to $15
Jan 1, 2026 11:56 PM

When es to policy choices, professional economists are famous for being overly circumspect. President Harry Truman plained, “Give me a one-handed economist! All my economists say, ‘on one hand . . . on the other.’”

There are some areas, though, where basic economic theory is so obvious that it’s not hard to find a majority of economists to agree. A prime example is the popular, but misguided, proposal to raise the minimum wage to $15.

A recent survey of 197 U.S. economists found that more than two-thirds (88 percent) think an acceptable federal minimum wage should be less than $15, with 74 percent outright opposing raising it to $15 (strongly oppose, 61 percent; oppose somewhat, 13 percent).

The survey also found that a strong majority of economists believe a minimum wage of $15 will have negative effects on youth employment levels (84 percent), the number of jobs available (77 percent) and adult employment levels (56 percent). When asked what effect a wage of $15 will have on the skill level of entry-level positions, four-in-five (83 percent) believe employers will hire entry-level positions with greater skills.

Economists are divided on whether a wage of $15 will help or hurt poverty rates. One-third (38 percent) think an increased wage will lead to increased poverty rates, while 27 percent think it will be reduced, 19 percent say it will be unchanged and 16 percent are not sure. Most economists (64 percent) think the Earned e Tax Credit (EITC) is a very efficient way to address the e needs of poor families, while only six percent believe a wage of $15 would be very efficient.

Two-in-five (39 percent) also think the minimum wage should remain at $7.25 or be lowered, with two-thirds in total (66 percent) believing the minimum wage should be $10 an hour or less.

Yet despite this expert opinion, House Democrats are pushing the Raise the Wage Act of 2019, a bill that would increase the federal minimum wage more than 100 percent by 2024. The legislation would also raise the minimum wage of workers who earn tips, like restaurant servers, by more than 600 percent the minimum wage.

Do these politicians not know the effect their policy would have on the low-skilled and working poor? Or do they just not care?

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Do Distributists Get Anything Right?
As David Deavel points out, free market economists and distributists “are often at each others’ throats.” Deavel is attempting to scrutinize distributism – what it is and what it isn’t – in a series at Intercollegiate Review. He claims that while distributism has its flaws, it has some valid points and there is much good to be found in the arguments of distributists. So what it distributism? Distributists like to describe themselves as an alternative or third way that avoids...
How To Help Without Giving A Dime
Charitable giving, for the most part, involves money. But not always. The auto manufacturer, Toyota, donates efficiency. The pany’s model of kaizen (Japanese for “continuous improvement”) was one their employees believed could be beneficial beyond the manufacturing business. Toyota offered to help The Food Bank of New York, which reluctantly accepted their plan. The charity was used to receiving corporate financial donations to feed their patrons, not time from engineers. But the non-profit quickly saw results. Toyota’s engineers helped reduce...
Play Hard, Work Harder
Over at Think Christian, Aron Reppmann asks whether there is a distinctly Christian way to vacation: “We have learned to approach our work as vocation, a calling from God, but what about our leisure?” Reppmann notes that one major temptation in modern society is to view vacation as a form of escape. Put in your 40, week after week, and hopefully, in Week X of Month Y, you’ll be able to leave your day-to-day activities behind. Close your eyes, sip...
Economic Mobility and the Cleveland Plan
Anthony Dent has a clever plan to improve economic mobility: move strategically unimportant federal departments and agencies to economically impoverished cities and towns across America. Republicans would support it because, well, they hate DC and favor “real” America. Democrats would support it because their cities and states would benefit disproportionately (think Atlanta, Michigan, or Illinois). Call it the Cleveland Plan after the city that exemplifies America’s decline. Not only does Cleveland routinely rank as one ofAmerica’s fastest-dying cities, but Clevelanders...
Can Faith Save Us? – Reflections on Lumen Fidei and Pope Francis
The day Pope Francis was elected, I went directly to the bar. It was about noon when I first got word that white smoke had been spotted outside of the Sistine Chapel. Soon after, my phone began to flood with texts declaring “Habemus Papam!” I called up a few of my Catholic friends and we decided that the best place to watch the announcement at St. Peter’s was none other than our favorite college pub. The bar was empty so...
Colonel Bud Day, the Hanoi Hilton, and the Problem with Military Secularism
Senator John McCain called Colonel George “Bud” Day, “The bravest man I ever knew.” Day (1925 -2013) was a veteran of World War II, Korea, and Vietnam. A Medal of Honor recipient, Day was shot down in his F-100 Super Sabre over North Vietnam in August of 1967. Ejected from his jet and severely injured, he continued to be a thorn in the side of the North Vietnamese for the remainder of the war. Tortured ruthlessly for information, he was...
Contraceptive Mandate Divides Appeals Courts
Two different federal appeals courts have issued opposite rulings on whether Obamacare can pany owners to violate their religious beliefs by providing contraception and abortifacients to their employees. A divided panel of the U.S. Court of Appeals for the 3rd Circuit ruled that a Pennsylvania pany owned by a Mennonite family ply with the contraceptive mandate contained in the Affordable Care Act. The majority said it “respectfully disagrees” with judges in the U.S. Court of Appeals for the 10th Circuit...
Affordable Care Act May Mean Less People Working
The official White House website says that all Americans will now have access to affordable medical care, and that small business owners need not worry about rising costs: The proposal will also provide tens of billions in tax credits for small business owners to make insurance coverage more affordable. Small businesses will also have a new option of purchasing insurance through the exchanges. By pooling their resources in the new insurance marketplace, small business owners will lower their costs and...
The Fears Of Young Entrepreneurs
This case has been made that government attempts to manage economies through regulation, laws, and taxes discourage entrepreneurs entering into the marketplace. I recently asked Michael, a young entrepreneur in his 20s, what were some of his fears about being a entrepreneur in America. We’re not using his full name to protect his identity but this is what he had to say: AB: How did you develop an entrepreneurial spirit and what worries you about the future? Michael: For as...
The Death Of Detroit’s Middle Class
Detroit is bankrupt. The city government can’t pay its bills. Scores of empty houses and garbage-strewn lots greet anyone who drives down once-bustling streets. There is a lot of finger-pointing, and no easy answers. There are a lot of pieces to the puzzle of what went wrong in Detroit. At The Wall Street Journal, Steve Malanga has a few puzzle pieces to add, and they form the face of former-Mayor Coleman Young. Young was Detroit’s mayor for 20 years (1974-1994),...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved