According to an independent survey conducted by the University of New Hampshire, over 80 percent of economists believe a $15 minimum wage will have a negative effect on jobs for less-experienced employees. Even former economists from the Clinton and Obama administrations have used phrases like "extremely risky" to describe a $15 minimum wage.
Economists' deep concerns about a $15 minimum wage have been validated by real-world stories. States and cities that have embraced extreme minimum wage hikes have seen businesses slash staff dramatically or close their doors entirely. For many small businesses like coffee shops, diners, and childcare providers, a $15 minimum wage is an impossible hurdle to overcome.