Democrats are very well-known for their support of increasing the minimum wage for low-wage workers. For quite some time, $15/hr has maintained as the amount which the left is pushing for. Nevertheless, many Americans regularly acknowledge the counterintuitiveness which inherently comes along with hiking up the minimum wage.
First and foremost is the hit which businesses will take. If businesses are mandated to pay their employees more money each hour, this means that they are losing profit. In order to compensate for this loss, businesses will inevitably cut back in other areas to avoid the aforementioned losses. In most cases, the cut-backs involve reducing employees’ hours, laying off workers, and increasing product prices.
Despite the aftermath which accompanies minimum wage increases, Democrats overwhelmingly view it as an advantageous reform for working-class individuals.
Walmart has not openly responded to the public statement of Bernie Sanders.
