Nobody deserves a minimum wage. Everyone deserves a fair wage. But what’s “fair” depends on a whole host of factors, not least of which is the health of the economy.
The chief claim for the $15 wage is that it would raise living standards for millions of workers in the retail and food-service industries. But that may not be true. The market may not be able to bear it.
For example, has the drive toward $15 really helped workers in San Francisco, where the minimum goes to $14 on Saturday? Since the city began phasing in its ordinance in 2014, locals have been shocked to discover the law of unintended consequences.
It just makes sense. When higher labor costs meet tight profit margins, a business owner will either cut labor cuts or shut down.
Ah, but anecdotes are not data.