Do you agree with Jason Haddad's stance on the federal minimum wage?

[CertifiedHandsomity]

From Jason Haddad's TikTok

Jason Haddad is a Republican mayoral candidate who labels himself as a "cultural conservative" and a "libertarian populist". He has come out in support of the federal minimum wage; however, there is a catch. He supports a $12 federal minimum wage, while the $15 number would only apply to states with the highest GDP states (such as California, Nevada, and surprisingly, Texas).

He demands we ask every Republican and conservative out there if they are in favor of the $15 wage, or else they're "not for the people." Also, he explains that the 'current' (allegedly?) $7.25 federal wage has been "flat since 1997."

Yes

No

Other

[nightdrot]

This can be answered relatively quickly. According to a study by the Congressional Budget Office, the Federal minimum wage increase just implemented - over three years - by the Biden administration last year, will result in a minimum loss of 1.3 million jobs. That is either in layoffs or - if you include jobs not created, 3.2 million jobs.

Of course, the CBO projections are based on projected economic conditions. In 2020, the economy shrank by 3.5% - the largest one year decline since World War II. Throw in the transition of the economy that began in roughly the 1980s from a manufacturing/extractions base to a service/high tech base, and the time it is taking for the education system and labor force demographics to catch up to that transition, and it is not surprising that job cuts AND lost hours will result.

Just to add then that, as a general rule, where the minimum wage is increased in a weak economic environment where wage growth is slow, unemployment will rise and working hours will be lost. Where it is increased in a strong economy with low unemployment and high wage growth are the norms, it is apt not to matter very much.

Thus the paradox. When it is needed most, as a social matter, it is apt to be counterproductive. When it is not needed, it will over time, be largely beneficial at the margins and mostly inconsequential.

[jshm2]

Oh wow!

Pay people what they are worth to the business, not what you think they deserve! How socialist!

It's no wonder everyone laughs at Americans. It's only "wrong" if others are doing it, not when you're doing it.

[Hispanic-Cool-Guy]

No. Adjusted for inflation the actual minimum wage should be to live a dignified life should be $17 a hour and for places California and New York where living there is extremely expensive around $22 a hour.

[EnglishEuropean]

I can see some logic to it but it sounds overly simplistic.

[OddBeMe]

On this he’s agreed with what Dems have been fighting for years.

[joeldalton]

You’re an idiot if you want a $15 minimum wage.