Come Together to Inspire, Interact, Influence, and Impact.

x
Notifications
Log Out? Are you sure you want to log out?
Log Out
IWN Staff
June 2, 2023 - 3 minutes
facebook linkedin twitter telegram telegram

In 60 Seconds: Minimum Wage

*PDF Download: In 60 Seconds – Minimum Wage

Democratic lawmakers want to increase the federal minimum wage from the current level of $7.25 to $15.00 per hour to provide workers a “livable” wage that they can raise their families on.

Increasing the federal minimum wage to $15 would lead to:

  • Anywhere from 1.3 million to 7 million jobs lost.
  • Fewer opportunities for low-skilled workers, young people, and women.
  • Reduced hours/smaller paychecks for workers.

We want every American to experience upward mobility and achieve his or her American dream. For many, it starts with that first minimum-wage job.

Here’s the issue of minimum wage in 60 seconds: 

What’s at Stake

Democratic lawmakers want to increase the federal minimum wage from the current level of $7.25 to $15.00 per hour to provide workers a “livable” wage that they can raise their families on.

Bad Solution:
Increasing the federal minimum wage to $15 would lead to:

  • Anywhere from 1.3 million to 7 million jobs lost.
  • Fewer opportunities for low-skilled workers, young people, and women.
  • Reduced hours/smaller paychecks for workers.

We want every American to experience upward mobility and achieve his or her American dream. For many, it starts with that first minimum-wage job.

Most minimum-wage workers are women and young people working part-time jobs to build skills and gain experience.

Raising the federal minimum wage makes hiring and retaining these workers more expensive. Employers have few options when their labor costs increase. They can:

  • Forgo hiring new workers.
  • Lay off current staff, reduce staff hours, or cut benefits.
  • Raise prices on the goods and services.
  • Close their doors.

A Better Path Forward: A Strong Labor Market

When jobs are plentiful, workers can negotiate for higher wages or find better-paying opportunities. Policies that foster a strong labor market will truly help low-skilled workers:

Safe Reopening: Deem all businesses essential and allow them to reopen with reasonable safety protocols.

Low Taxes: The Tax Cuts and Jobs Act reduced corporate taxes from 35 to 21 percent, which was projected to increase long-run GDP by 1.7 percent, create 339,000 jobs, and raise wages by 1.5 percent. Individual tax cuts also directly boosted take-home pay. Congress should keep the tax cuts.

Deregulation: Excessive regulation has cost the U.S. an average of 0.8 percent of GDP growth per year since 1980. This is a waste of resources that could benefit workers.

Occupational Licensing Reform: Licensure to work in specific industries has grown exponentially over the past few decades and is associated with 2.8 million fewer jobs.

Earned Income Tax Credit: The EITC is a “refundable” tax credit that encourages poor workers to seek employment and augments their wages. It is credited with lifting 4.1 to 5.8 million people out of poverty in 2016, including up to 3 million children.

Addressing Misperceptions: 

IWN Staff
Back to Resource Center

More from IWN Staff

State Legislature: Grassroots Trainings A Basic Overview: The Importance Of State Legislatures

There is no excerpt because this is a protected post.

IWN Staff May 15, 2025
State Legislature: Grassroots Trainings Basics of a State Legislature: How It Works And How Bills Become Law

There is no excerpt because this is a protected post.

IWN Staff May 15, 2025
State Legislature: Grassroots Trainings Terminology: Legislative Terms You Should Know To Be Effective

There is no excerpt because this is a protected post.

IWN Staff May 15, 2025
State Legislature: Grassroots Trainings Engagement: How To Make A Difference In Your State Legislature

There is no excerpt because this is a protected post.

IWN Staff May 15, 2025
Resource Center Leading Lady | Sami Keddington, IWN Chapter Leader

Leading Ladies, an Independent Women’s Network initiative, showcases and honors women who…

IWN Staff May 12, 2025

Related Posts by IWN

How To Talk About: Education Freedom

Education freedom policies allow education funding to follow students to the option…

IWN Staff January 27, 2025
How to Talk About: Education Freedom

EDUCATION FREEDOM *PDF Download Funds students, not systems. Unfortunately, school districts and…

IWN Staff January 27, 2025
In 60 Seconds: Education Freedom

*In 60 Seconds: Education Freedom What is Education Freedom? Education freedom funds…

IWN Staff January 27, 2025
How to Talk About: TEACHERS UNIONS

Five Key Points About Teachers Unions *PDF Download Unions seek power. Unions…

IWN Staff September 30, 2024
In 60 Seconds: Why Crime Statistics Can Be Misleading

Crime statistics delivered to the public don’t always align with the reality…

Paula Fitzsimmons August 8, 2024