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1 week ago

AOC-backed $30 minimum wage plan could backfire in unexpected ways, experts warn

An ambitious proposal backed by Rep. Alexandria Ocasio-Cortez to raise the federal minimum wage to as high as $30 an hour is drawing red flags from economists who warn the proposal could backfire on the people it's meant to help.A new survey published by the Employment Policies Institute found broad skepticism among U.S. economists toward steep minimum wage hikes, with many warning the policy could lead to unintended ripple effects like job losses for low-wage workers and higher prices for all Americans.Specifically, these economists oppose proposals that push the minimum wage to more than $20...