Democrats in Congress are a threat to US prosperity

Alfredo Ortiz:

With wage and economic growth at historic highs, and the unemployment rates among all major demographics at or near record lows, Americans have much to be thankful for this Thanksgiving. Turkey and stuffing with family and friends taste better when enjoyed with today’s job security, economic opportunity, and rising standards of living that are partially a result of the pro-growth policies enacted over the past two years.

Unfortunately, this prosperity is threatened by the new Democratic House majority, whose policy priorities feature new regulations, higher taxes and reduced access to credit. Chief in Democrat policy crosshairs are small businesses, which create two-thirds of new jobs, and have seen a resurgence under President Trump, reinvigorating Main Streets in the process.

Take one of the top priorities of House Democrats: passing a national $15 minimum wage. The presumptive incoming speaker, Nancy Pelosi, has vowed to pass this wage floor in the first 100 hours of the new Congress. The fact that the shopworn, discredited idea of wage controls is on the front page of the Democratic policy playbook demonstrates the intellectual bankruptcy of their agenda.

A $15 minimum wage would dramatically increase labor costs for small businesses and swamp the tiny profit margins on which most operate. Given that this proposed minimum wage increase is so big — more than double the current federal minimum wage — it’s likely that the majority of small businesses in the country would be negatively affected.

And despite what the media say, employee prospects rise and fall with small businesses. Even in wealthy Seattle, which passed a $15 minimum wage in 2014, independent researchers at the University of Washington revealed that entry-level jobs and hours worked fell as a direct consequence. As a result of reduced hours, entry-level wages actually fell by $1,500 a year, on average.
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The increased minimum wage would punish both the employers and the employees because it makes no economic sense.  The best way to increase wages is to grow the economy the way Trump and the GOP have done in the last two years.  It has led to increa3ed jobs and more competition for workers which has led to increased salaries and more opportunities for workers to find better jobs and bring more low skilled workers into the job market.