While Democrats and Republicans may argue over many issues, there is one thing they can agree on: a firm, bipartisan commitment to bad economics. Case in point: On June 10, Senators Josh Hawley (R-Mo.) and Peter Welch (D-Vt.) teamed up to introduce the Higher Wages for American Workers Act (S. 2013)—a bill aimed at doubling the federal minimum wage from $7.25/hour to $15/hour, which also includes provisions that would allow the minimum to increase with inflation in subsequent years.

Blaming “woke” corporations and illegal immigrants for the American worker’s woes is nothing new in President Trump’s ongoing efforts to continue the GOP’s rebranding as the right-wing populist party of the middle class. However, Hawley’s platform is unique. His minimum wage bill hinges on the idea that the failure of minimum wages to keep up with inflation is a primary reason behind the claim that working-class incomes have stagnated in recent decades. This common talking point—often brought up repeatedly by the left—has been debunked time and again, but still shapes his approach. This—coupled with his other left-leaning economic policies—is a stark deviation from the conservative orthodoxy and has prompted hesitation from President Trump himself.

Trump’s criticism isn’t without merit. Republicans have resisted federal minimum wage hikes for 15 years, and this bill only brings back an economic failure they’ve long fought against. Hawley’s proposal, while perhaps well-intentioned, is both a reckless and destructive policy that will undermine the economic prospects of the very workers it purports to help, and fail to address the issues it purports to solve. Despite the profundity of evidence demonstrating its shortcomings, Hawley and Welch’s reintroduction of the minimum wage into the national conversation on economic justice requires a renewed confrontation with their flaws. …

In the end, no top-down mandate will raise real wages for American workers. The best way to raise real wages for employees is to raise the value of the workers’ labor, which can be achieved through capital investment, education, training, and experience. Real wages come out of production, not government decree.

As Thomas Sowell once said, “There are no solutions; only trade-offs.” In this case, the trade-off is artificially inflated wages for a select class of workers who keep their jobs, while many others will lose their jobs because their labor isn’t worth the price. For those who manage to keep their jobs, they’ll likely face reduced hours, cuts to other employee benefits, and sped up displacement from automation. Meanwhile, everyone will feel the pinch as businesses deal with the increased costs of this market distortion.

Bad economics is bipartisan, as are the consequences of bad economics. The one-size-fits-all solution of attempting to solve a complex issue like poverty with a uniform federal minimum wage will bring disaster to the same low-income workers that Hawley and many populists aim to protect, leaving everyone worse off overall. If Republicans in Congress have any sense, they will kill this bill in its cradle. There are plenty of ways to own the libs, but stealing their bad policies is not one of them.