A new study reveals what basic economics dictates: that raising the minimum wage often has far greater reaching negative consequences than positive ones. The University of Washington's paper notes that Seattle's $15 per hour minimum wage law has resulted in a 9-percent reduction in hours allotted to low-level workers, thus costing them an average of $125 per paycheck. 

Fox News summarizes the study: 

The working poor are making more per hour but taking home less pay. The University of Washington paper asserts the new wages boosted worker pay by 3 percent, but also resulted in a 9-percent reduction in hours and a $125 cut to the monthly paychecks.

The law also cost the city 5,000 jobs, the report said.

Seattle's minimum wage ordinance, passed by the Seattle City Council and signed by Mayor Ed Murray in 2014, was sold as a way to close the income inequality gap and help those struggling at the bottom of the economic ladder. More than a dozen cities and counties, mostly in California and New York, followed suit.

"This is a two-edged sword," said Jacob Vigdor, one of the team of researchers studying the issues for Seattle. "And if you raise this minimum wage the way Seattle did you run the risk of actually taking money away from the people you are trying to help."

In this July 22, 2015 file photo, supporters of a $15 minimum wage for fast food workers rally in front of a McDonald's in Albany, N.Y.  (AP)

The study was published as a "working paper" on Monday by the National Bureau of Economic Research. 

A national campaign called "Fight for $15" aims to bring higher wages across the country by worker strikes and demonstrations.

The Seattle mayor of course challenged the study's findings, stating, "Seattle's economy is booming, with wages increasing & restaurants & retail among our fastest growing job sectors."

Spin, spin, and more spin. The sad part is that policies like these always hurt the very people they're intended to help.