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#TBT: Seattle Busts on $15

Posted: June 28, 2017

Author: Jonathan Hoenig

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Reports on the impact of Seattle’s 2014 $15 minimum wage are in and they’re not promising.

According to a study from the University of Washington, companies responded to higher minimum wages by cutting low-wage workers’ hours, leading to a net loss of $125/month for the average employee. In addition, 5,000 low-wage jobs were lost as a result.

It’s not a surprise. When asked about the proposed increase over three years ago, Jonathan Hoenig explained how the minimum wage immorally prohibits voluntary relationships, inevitably leading to wealth destruction specifically among the entry-level workers it purports to help.

HOENIG: Seattle’s Minimum Wage Hike Will Hurt the Poor (Fox Business, 2014)

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