Morici: Planned 2015 Minimum Wage Hikes in 21 States Will Hurt Job Growth in America

MORRIS: “You think this is a bad idea, that the minimum wage going up. Why?”

MORICI: “Well, essentially businesses will employee fewer people. There is hardly anything in the world where you raise the price and you demand more, the way advocates say. The reality is if you make workers more expensive through a higher minimum wage, Obamacare, what have you, employers will find a way around them, to use machines and so forth. The congressional budget office found if we had the president’s proposal, 10.10 minimum wage across the country, we would have 500,000 fewer jobs. How could you have more economy -- more economic growth with fewer people working?”