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Companies Are Preparing to Cut Jobs and Automate if Biden Gets $15 Minimum Wage Hike, Reporting Shows. Let’s hope that Joe Biden’s minimum wage fantasies never become law—or workers will pay the price for his economic naiveté. Nobel laureate Milton Friedman once said that “One of the great mistakes is to judge policies and programs by their intentions rather than their results.” When it comes to the $15 minimum wage hike supported by Joe Biden and many of his fellow Democrats, it’s becoming increasingly clear that the results will be ugly.