$15 minimum wage would destroy 1.4 Million jobs

Polishprince

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And this is according to the Far Left CBO.

Undoubtably it would be a lot more.

Any poor person who needs to work deserves this shit sandwich they are being served- if they actually voted for the Dems.

 

AzogtheDefiler

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And this is according to the Far Left CBO.

Undoubtably it would be a lot more.

Any poor person who needs to work deserves this shit sandwich they are being served- if they actually voted for the Dems.

A federal minimum wage hike like that is stupid. Allow the states to make their own and separate decisions.
 

Ray From Cleveland

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And this is according to the Far Left CBO.

Undoubtably it would be a lot more.

Any poor person who needs to work deserves this shit sandwich they are being served- if they actually voted for the Dems.

Even Dementia knows this. That's why he backed down from it.
 

Indeependent

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And this is according to the Far Left CBO.

Undoubtably it would be a lot more.

Any poor person who needs to work deserves this shit sandwich they are being served- if they actually voted for the Dems.

What did you think the Democratic Platform is?
 

task0778

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From the OP's link:


Along with the reduction in employment, the federal budget deficit would increase by $54 billion over the next 10 years, a fairly negligible level considering the fiscal 2020 shortfall totaled more than $3 trillion.

Pay for all workers would increase by a net $333 billion, “an increased labor cost for firms considerably larger than the net effect on the budget deficit during that period,” the CBO report said.

In the 2019 estimate, the agency said total family income would decrease slightly on net.

“Higher wages would increase the cost to employers of producing goods and services,” the report said.

“Employers would pass some of those increased costs on to consumers in the form of higher prices, and those higher prices, in turn, would lead consumers to purchase fewer goods and services,” the report found. “Employers would consequently produce fewer goods and services, and as a result, they would tend to reduce their employment of workers at all wage levels.”

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Boosting the minimum wage would result in increased spending on Medicaid for those who lost their jobs due to higher wages, while outlays for Social Security also would rise due to higher salaries.

However, those at the bottom rung also would feel some impact.

The report expects that of the 1.4 million workers displaced by the higher wages, half would fall out of the labor force completely by 2025.


“Young, less educated people would account for a disproportionate share of those reductions in employment,” the report said.


Way to go, democrats. Let's fuck over the young, less educated people. They'll vote for us anyway cuz they don't know any better.
 

DudleySmith

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If a job can't pay even $15 an hour, then it's not a real job and doesn't need doing. In any case, China Joe is already flooding the country with the first waves of some 100 million 'refugees' by Christmas, so all you labor racketeers who have been stuffing your pockets with the gains from hiring criminal illegal aliens aren't going to be paying but maybe $5 an hour anyway, so quit snveling like little bitches having a bad hair day.
 

Toddsterpatriot

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If a job can't pay even $15 an hour, then it's not a real job and doesn't need doing. In any case, China Joe is already flooding the country with the first waves of some 100 million 'refugees' by Christmas, so all you labor racketeers who have been stuffing your pockets with the gains from hiring criminal illegal aliens aren't going to be paying but maybe $5 an hour anyway, so quit snveling like little bitches having a bad hair day.
If a job can't pay even $15 an hour, then it's not a real job and doesn't need doing.

LOL!
 

Ray From Cleveland

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If a job can't pay even $15 an hour, then it's not a real job and doesn't need doing. In any case, China Joe is already flooding the country with the first waves of some 100 million 'refugees' by Christmas, so all you labor racketeers who have been stuffing your pockets with the gains from hiring criminal illegal aliens aren't going to be paying but maybe $5 an hour anyway, so quit snveling like little bitches having a bad hair day.
All jobs need doing, otherwise there would be no job offers. Minimum wage are not real jobs, they are starter jobs for kids, stay at home mothers and wives during school season, and perhaps retired people. If you want to make grown up money, you need to get a real job which means acquiring an education, skill, trade, or field of work.
 

Ray From Cleveland

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However, those at the bottom rung also would feel some impact.
Not a positive one, that's for sure. If this ever comes about, the price of everything will increase by the time this new MW makes it's full circle. The extra money MW workers make will go towards higher costs on the products they buy. If they rent, same thing. The more it costs to hire people and services for rental units, the more landlords will have to charge. Given we are in short supply of rental units as it is that sent prices souring the last ten years, it will be even worse for lower income people.
 

jackflash

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And this is according to the Far Left CBO.

Undoubtably it would be a lot more.

Any poor person who needs to work deserves this shit sandwich they are being served- if they actually voted for the Dems.

I'd say concentrate on getting the debt $pending down & employment UP would be the better solution for everyone in the long run than raising the federal minimum wage to $15.00 per hour. With the fed printing fed reserve notes non stop 24/7 one can only imagine the devastating effect this will have on Americans a little further down the road.

 

harmonica

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..it said that would help people out of poverty = total BULLSHIT..a lot of them are in poverty because they are STUPID/lazy/etc and don't know how to handle finances !!!!!!!!!!!!!!!!!!! DUH
 

candycorn

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And this is according to the Far Left CBO.

Undoubtably it would be a lot more.

Any poor person who needs to work deserves this shit sandwich they are being served- if they actually voted for the Dems.

29 states already have ratified minimum wages higher than that of the federal minimum wage of $7.25 an hour. one of which is Florida who will raise their minimum wage to $15 per hour. Red State voters approved it.

So we can expect massive unemployment in Florida pretty soon then, right?
 

initforme

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Keep it where it is. Those jobs are ones that require basically only showing up. If people don't apply for them that's not a bad thing.
 

justinacolmena

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Any poor person who needs to work
they are starter jobs for kids
So 1.4 million Americans "make" less than $15/hour. If these are starter jobs — then your starting wage determines your earnings for the rest of your life under the Democrats' EEO/DOE system.

You max out at $25-30/hour in the prime of your career, by by that time inflation will have reduced your real wages to no more than today's minimum wage.

Your kids will then be even poorer that you were at their age.
 

danielpalos

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And this is according to the Far Left CBO.

Undoubtably it would be a lot more.

Any poor person who needs to work deserves this shit sandwich they are being served- if they actually voted for the Dems.

For how long? Everyone knows higher paid labor creates more in demand and generates more in tax revenue. That is true in every long run equilibrium. For the short run, unemployment compensation for simply being unemployed can make it simpler for those who are unemployed.
 

Ray From Cleveland

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So 1.4 million Americans "make" less than $15/hour. If these are starter jobs — then your starting wage determines your earnings for the rest of your life under the Democrats' EEO/DOE system.

You max out at $25-30/hour in the prime of your career, by by that time inflation will have reduced your real wages to no more than today's minimum wage.

Your kids will then be even poorer that you were at their age.
No, I said minimum wage which today is something like $7.70 an hour or in that area. If it goes to $15.00 an hour, it will create a domino effect and everybody regardless of what they make will demand a huge increase as well, and of course it will lead to inflation.

I worked minimum wage jobs when I was younger in the later 70's. There is no way anybody gets inflated out if they get out of that minimum wage job and advance themselves. I had to switch companies and different fields several times in my life to get ahead. That's the idea.
 

Ray From Cleveland

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29 states already have ratified minimum wages higher than that of the federal minimum wage of $7.25 an hour. one of which is Florida who will raise their minimum wage to $15 per hour. Red State voters approved it.

So we can expect massive unemployment in Florida pretty soon then, right?
You will have more unemployment but not massive. The real pain is the cost of living will increase. Everybody is going to demand money whether they work MW or not. It will cost more to buy products and get services. Some industries may move out of the state if their business model requires lower paying labor. Florida has the weather so that will keep a lot of people there, but most states don't have Florida's weather.
 

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