CBO: Biden's proposal to raise minimum wage to $15 could could kill up to 3.7M jobs

[Counselor706]

President-elect Joe Biden’s proposal to raise the minimum wage to $15 an hour could kill up to 3.7 million jobs, the Congressional Budget Office estimated.

The CBO said that some of the higher earnings from the $15 federal minimum wage could be offset by higher rates of joblessness.

“Forcing a $15 minimum wage into a coronavirus relief bill would do nothing but shutter the millions of small businesses already on life support and would force those that survive to lay-off employees,” said Sen. Tim Scott.

“If the federal government mandates a universal $15 minimum wage, many low-income Americans will lose their current jobs and find fewer job opportunities in the future,” Sen. Pat Toomey said.

Source

 

[CornusKousa]

Source

Killing jobs is the point....that's what democrats do.

 

[Emerson40]

https://64.media.tumblr.com/4ca172492c44d9cb62522ab3debc05eb/8c3db9e888734ab1-40/s500x750/12a397e488cefb0f697e49beea03b53cfbbffc4c.jpg

 

[LLCox]

How are you going to tell the difference . Thousands of small businesses have and are closing. Small business accounts for 44% of employment. The shit has already hit the fan.."build back better" is the mantra, not "stay great ?"

 

[Fuzzy1975]

Fear...Fear...Fear...

So when they raised the minimum wage from x to y here ( I say this because the government has raised the minimum wage, several times, the last was from $9.00/h to $15.00/hr, I have heard this argument many times before) we DID NOT see an exodus of business, we DID NOT see a litany of business bankruptcy...

What we did see was a price increase in many goods and services and people who could afford to be part of the economy, instead of sitting on the sidelines, trying to survive.

 

[CornusKousa]

Fear...Fear...Fear...

So when they raised the minimum wage from x to y here ( I say this because the government has raised the minimum wage, several times, the last was from $9.00/h to $15.00/hr, I have heard this argument many times before) we DID NOT see an exodus of business, we DID NOT see a litany of business bankruptcy...

What we did see was a price increase in many goods and services and people who could afford to be part of the economy, instead of sitting on the sidelines, trying to survive.

So then why not just do it at the state level??

Why the need to do EVERYTHING as a 1 size fits all 50 states program??

Because jackbooted authoritarians INCAPABLE of minding their own fuckin' business ....that's why.

 

[YDB95]

They said essentially the same thing about any minimum wage at all. And child labor laws, and the 40-hour work week, and women joining the workforce...I could go on, but you get the idea.

 

[EmptyTank]

the cbo is not taking into account all of the newly undocumented citizens welcomed in who will take jobs at much lower wages under the table

the only jobs that will be lost will be lost to minorities and young people trying to enter the work force because it will cost too much to hire them

on the other hand

the bidenettes and other assorted socialist allies assure us that this will create a booming economy because every actual citizen will now be working for a living wage and doing all that spending because consumerism is what drives an economy

 

[EmptyTank]

Fear...Fear...Fear...

So when they raised the minimum wage from x to y here ( I say this because the government has raised the minimum wage, several times, the last was from $9.00/h to $15.00/hr, I have heard this argument many times before) we DID NOT see an exodus of business, we DID NOT see a litany of business bankruptcy...

What we did see was a price increase in many goods and services and people who could afford to be part of the economy, instead of sitting on the sidelines, trying to survive.

see

consumerism

of course those people will also be able to pay more in taxes which is a perceived bonanza to the national government

 

[EmptyTank]

with more tax income you can offer more bribes for votes in the form of additional benefits

its a win win win win

 

[YDB95]

the cbo is not taking into account all of the newly undocumented citizens welcomed in who will take jobs at much lower wages under the table

the only jobs that will be lost will be lost to minorities and young people trying to enter the work force because it will cost too much to hire them

on the other hand

the bidenettes and other assorted socialist allies assure us that this will create a booming economy because every actual citizen will now be working for a living wage and doing all that spending because consumerism is what drives an economy

What part of "when more people have money to spend, it benefits the economy" doesn't make sense to you?
As for hiring of illegal immigrants, you know how we could cut down on that? Regulation. But we all know what you think of that!

 

[CornusKousa]

What part of "when more people have money to spend, it benefits the economy" doesn't make sense to you?

What part of "life, liberty and the pursuit of happiness" and the term "private property" doesn't makes sense to you??

When are you going to realize this isn't N. Korea comrade???

LOL.....dumb fuckers without any education thinking the USA was designed to be a communist shit hole.

YDB and others like him are a fine example of why NOT to send your kids to the public babysitting services, they'll come back fucking communist shit stains who think it's everyone else's job to make sure they have an equitable life outcome.

 

[Champakian]

When a small business owner is faced with increased labor costs,
he/she doesn't add more labor because they cannot afford it and
the added cost has to be made up in one of two ways:

1.) You have to cut hours in order to hold costs down
(the implication being that your worker makes the same amount of money)

or

2.) You raise prices and cut down on your volume of sales
(because your sales are not going to enjoy all that new money - see #1).

 

[CornusKousa]

When a small business owner is faced with increased labor costs,
he/she doesn't add more labor because they cannot afford it and
the added cost has to be made up in one of two ways:

1.) You have to cut hours in order to hold costs down
(the implication being that your worker makes the same amount of money)

or

2.) You raise prices and cut down on your volume of sales
(because your sales are not going to enjoy all that new money - see #1).

I just pay them under the table.

They get more, I get more, the greedy control freaks trying to get more out of both of us for nothing?? Get the finger.

https://i.pinimg.com/originals/4b/cd/8a/4bcd8ad684860048bb53ba8a5ba871ab.gif

 

[Champakian]

I just pay them under the table.

They get more, I get more, the greedy control freaks trying to get more out of both of us for nothing?? Get the finger.

...

Which is why the new administration is going to welcome in the caravan;
they are tailor-made for under-the-table wages...

 

[Emerson40]

When a small business owner is faced with increased labor costs,
he/she doesn't add more labor because they cannot afford it and
the added cost has to be made up in one of two ways:

1.) You have to cut hours in order to hold costs down
(the implication being that your worker makes the same amount of money)

or

2.) You raise prices and cut down on your volume of sales
(because your sales are not going to enjoy all that new money - see #1).

Not too difficult to see why you’re the one loading and unloading the trucks.

 

[CornusKousa]

Which is why the new administration is going to welcome in the caravan;
they are tailor-made for under-the-table wages...

You get what you vote for!!

 

[Philthy_Phil]

You get what you vote for!!

*looks at the present state of america*

You got that right!

 

[Philthy_Phil]

Not too difficult to see why you’re the one loading and unloading the trucks.

Lmao!