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Daily Traders Edge

The Fight For $15 Fizzles

August 14
14:00 2017

Last year, the “Fight for $15” movement was said to have unstoppable momentum, driven by labor unions, left-wing politicians and a sympathetic press. Then reality struck. Too bad it didn’t strike sooner.

“This is a trend that cannot be stopped.” “The political earth has shifted.” “This movement continues to build.” “Even economic experts who oppose the increased rate see it gaining momentum.” That’s what all the “experts” were saying last year.

It was easy to make such assumptions. Protests and strikes were on the rise, hitting 340 last year. In 2015 alone, 14 cities and states approved $15 minimum wage laws. Unions were pouring tens of millions of dollars into the effort. The Democratic Party made a national $15 minimum wage part of its 2016 party platform.

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