If there weren’t already enough logical, common-sense reasons as to why, for most of the country, raising the minimum wage to $15 per hour will have a crippling effect on the job economy, a new report revealed yet another significant reason why the idea is really, really bad for America.
According to Fox Business, Rachel Greszler, economics research fellow at the conservative-leaning Heritage Foundation, revealed this week that the proposed minimum wage hike will make the cost of childcare skyrocket, to the tune of an increase of 21 percent.
Anyone reading this who has children that need daily childcare will gasp at that figure, as childcare costs are already one of the most significant costs in any household with children.
But what’s even worse is that it would come at a time when parents have had to fork over even more for childcare costs during the pandemic, as many children are still forced to learn from home because various teachers’ unions pull President Joe Biden’s puppet strings and continue to fight to stay out of the classroom.
So, the 21 percent increase, for the average household with two children, would mean an increased cost per year of about $3,728.
How many households, during a pandemic, have an extra $3,728 laying around? The answer is: not many.
The effect would be even worse in lower-income, rural areas.
“With childcare consuming even more of family budgets — 40 percent or more in of the median household incomes in a lot of states — many families could be priced out of the childcare market completely,” Greszler said in her report.
“In turn, the unintended consequences of a $15 minimum wage could force some parents to give up their jobs and live on lower household incomes, while causing others — particularly single parents — to turn to non-licensed, typically illegal, childcare,” she added.
In other words, not only would it actually cost even more jobs, it would force the rise of an underground, unlicensed childcare industry just so parents have a shot at working a full day and making money to feed their families, all so the guy serving you a cheeseburger at Wendy’s can make a few extra bucks per hour for unskilled labor.
Guys, that’s the Biden way. It’s no longer a joke — this administration wants to crush you into the ground financially and exert total control over your life.
Greszler’s report comes on the heels of a CBO report that indicated a $15 per hour minimum wage would kill off some 1.4 million jobs — many of those being jobs that younger folks start out in — as well as jobs that some adults are stuck in because of the pandemic and a lack of skilled, gainful employment opportunities.
Make no mistake, the next several years for Americans will be rough, especially as the Biden administration continues down a path of killing jobs and destroying this once-great economy.
ARTICLE SOURCE : thefederalistpapers.org