The left is sure that raising minimum wage would be a great move. It is an idea that they refused to give up on. The thing is, it's a terrible idea. It looks like Illinois is on the brink of becoming the 20th state to raise minimum wage in recent years. This is despite their minimum wage already being more $1 more than neighboring states. According a study, $15 minimum wage will kill 328,000 jobs in Illinois by 2025.
The House bill sponsor, Rep. Will Guzzardi (D-Chicago) believes that in order to make ends meet, low-income workers need a higher minimum wage. The plan includes a tax credit for business that have less than 50 employees. Guzzard's bill also allows for companies to pay below minimum wage to employees who are under 18 years old and work less than 650 hours per year.
So while the minimum wage workers will be happy about their pay raise, there is a catch. There is always a catch when you start giving stuff away. The catch is that many of these minimum wage jobs will no longer exist if this bill is made into law. With Illinois losing 328,200 jobs in the coming years, many of these jobs will be gone, crippling the state of Illinois.
Michael Tanner of Cato Institute explains why raising minimum wage to $15 is a bad idea.
“If people think raising the minimum wage to $15 is a good idea, why not raise it to $50?” Tanner questioned. “Because businesses would shut down. Businesses pay according to worker productivity, or valued added. When employers are forced to pay a minimum wage, they must do away with low-skilled jobs.”
$15 Minimum Wage Will Kill 328,200 Jobs in Illinois
You see, when businesses are faced with the issue of paying $15 an hour for labor that isn't worth $15 an hour, they will look for alternatives. Like McDonald's did with the kiosks.
Raising the minimum wage will crush the jobs that the younger generations need to establish their first work experience. While people think that raising minimum wage will help increase their earnings and improve their lifestyle, when in actuality it will crush the companies where they get these jobs and hurt them even more.
It's time to end the fight for $15. Forcing companies to pay employees more than they are worth is no way for this economy to get ahead.