CBO: Biden $15 An Hour Minimum Wage Will Cost 1.4 Million American Jobs

[easyt65]

CBO: Biden’s $15 Minimum Wage Would
Result in a Loss of 1.4 Million Jobs

Why Do This? Because the Democrats know what's best for you...and because they CAN.


CBO: Biden's $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs

 

[Moonglow]

Yeah, that is what they said about a seven dollar an hour min wage.

 

[Toddsterpatriot]

Yeah, that is what they said about a seven dollar an hour min wage.

Link?

 

[danielpalos]

CBO: Biden’s $15 Minimum Wage Would
Result in a Loss of 1.4 Million Jobs

Why Do This? Because the Democrats know what's best for you...and because they CAN.


CBO: Biden's $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs

Only in the short term. Unemployment compensation could be improved to better pick up the slack and automatically stabilize our economy. In the long run, higher paid labor creates more in demand and generates more in tax revenue.

 

[MarathonMike]

That's China Joe! Making America Last Again with every action he takes.

 

[rightwinger]

Yeah, that is what they said about a seven dollar an hour min wage.

The jobs always come back
The market adjusts

 

[Moonglow]

Yeah, that is what they said about a seven dollar an hour min wage.

The jobs always come back
The market adjusts

They certainly have no problems when capital cost increases or materials increase in cost increasing the prices of their products they sell with no min. wage increases.

 

[Staidhup]

CBO: Biden’s $15 Minimum Wage Would
Result in a Loss of 1.4 Million Jobs

Why Do This? Because the Democrats know what's best for you...and because they CAN.


CBO: Biden's $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs

Only in the short term. Unemployment compensation could be improved to better pick up the slack and automatically stabilize our economy. In the long run, higher paid labor creates more in demand and generates more in tax revenue.

And what economic theory and data supports your hypothesis? So where are all these jobs going to originate from? Higher paying jobs derive from the private sector, supply and demand for skilled and entry level labor, not government mandate or government spending.

 

[Moonglow]

That's China Joe! Making America Last Again with every action he takes.

Trade deficit under Trump is the highest it has been in twelve years.

 

[Vel]

CBO: Biden’s $15 Minimum Wage Would
Result in a Loss of 1.4 Million Jobs

Why Do This? Because the Democrats know what's best for you...and because they CAN.


CBO: Biden's $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs

Only in the short term. Unemployment compensation could be improved to better pick up the slack and automatically stabilize our economy. In the long run, higher paid labor creates more in demand and generates more in tax revenue.

Where do you think the money for unemployment comes from?

 

[dudmuck]

CBO: Biden’s $15 Minimum Wage Would
Result in a Loss of 1.4 Million Jobs

Why Do This? Because the Democrats know what's best for you...and because they CAN.


CBO: Biden's $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs

So what? Biden is planning to create a bunch of new jobs in green energy, education, infrastructure and health care.

Putting money in people's pockets increases the demand for restaurants, home improvement, vacations, entertainment, new clothes, etc. and all those industries will have to go on a hiring spree to meet the demand.

and 900,000 lifted out of poverty.

 

[Toddsterpatriot]

and 900,000 lifted out of poverty.

How many kicked back into poverty, when their job is destroyed?

 

[martybegan]

Yeah, that is what they said about a seven dollar an hour min wage.

The jobs always come back
The market adjusts

Automation Engineers disagree with you.

if they have to pay someone $15 an hour they will make them provide $15 worth of labor by augmenting them with automation.

 

[martybegan]

CBO: Biden’s $15 Minimum Wage Would
Result in a Loss of 1.4 Million Jobs

Why Do This? Because the Democrats know what's best for you...and because they CAN.


CBO: Biden's $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs

So what? Biden is planning to create a bunch of new jobs in green energy, education, infrastructure and health care.

Putting money in people's pockets increases the demand for restaurants, home improvement, vacations, entertainment, new clothes, etc. and all those industries will have to go on a hiring spree to meet the demand.

and 900,000 lifted out of poverty.

Most of those jobs will be skilled, not unskilled.

Some people aren't worth $10 an hour, never mind $15, how are they going to perform jobs that earn $25 or even more?

 

[danielpalos]

CBO: Biden’s $15 Minimum Wage Would
Result in a Loss of 1.4 Million Jobs

Why Do This? Because the Democrats know what's best for you...and because they CAN.


CBO: Biden's $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs

Only in the short term. Unemployment compensation could be improved to better pick up the slack and automatically stabilize our economy. In the long run, higher paid labor creates more in demand and generates more in tax revenue.

And what economic theory and data supports your hypothesis? So where are all these jobs going to originate from? Higher paying jobs derive from the private sector, supply and demand for skilled and entry level labor, not government mandate or government spending.

Simple math and the multiplier effect. Higher paid labor creates more in demand and generates more in tax revenue. The Rich are still getting richer. Capitalists still want to make a profit.

 

[easyt65]

Only in the short term. Unemployment compensation could be improved to better pick up the slack and automatically stabilize our economy. In the long run, higher paid labor creates more in demand and generates more in tax revenue.

Yes, let's put another 1.4 MILLION Americans out of work in the middle of a pandemic and already Democfrat-created bad economy....on top of all the thousands f Americans already laid off and that will be in the oil Industry, building and erecting the Border Walls and associated / linked businesses...on top of all the employees and small business owners who are out of a job thanks to the Democrats destroying more than 50% of all minority-owned small businesses in the US.

Lets put 1.4 million people out of work, unable to pay rent or provide for their families - it's no big deal. It's just for a 'short time'. $400 a month unemployment compensation will take care of them - except they want their jobs and want to work, not take hand-outs.

In the long run this mandated salarythat just cost 1.4 million American jobs will generate more tax revenue. 1.4 million Americans NOT paying taxes is going to create more tax revenue.....1.4 million Americans sucking off the tax-payer funded social program (Unemployment, welfare, food stamps) is going to generate more tax revenue than if they were working?

Really?

 

[danielpalos]

CBO: Biden’s $15 Minimum Wage Would
Result in a Loss of 1.4 Million Jobs

Why Do This? Because the Democrats know what's best for you...and because they CAN.


CBO: Biden's $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs

Only in the short term. Unemployment compensation could be improved to better pick up the slack and automatically stabilize our economy. In the long run, higher paid labor creates more in demand and generates more in tax revenue.

Where do you think the money for unemployment comes from?

It should be coming from general taxes not direct taxes. Anyone receiving unemployment compensation can pay general taxes.

 

[Moonglow]

Yeah, that is what they said about a seven dollar an hour min wage.

Link?

Life of those apposed to min. wage hikes.

 

[Moonglow]

Only in the short term. Unemployment compensation could be improved to better pick up the slack and automatically stabilize our economy. In the long run, higher paid labor creates more in demand and generates more in tax revenue.

Yes, let's put another 1.4 MILLION Americans out of work in the middle of a pandemic and already Democfrat-created bad economy....on top of all the thousands f Americans already laid off and that will be in the oil Industry, building and erecting the Border Walls and associated / linked businesses...on top of all the employees and small business owners who are out of a job thanks to the Democrats destroying more than 50% of all minority-owned small businesses in the US.

Lets put 1.4 million people out of work, unable to pay rent or provide for their families - it's no big deal. It's just for a 'short time'. $400 a month unemployment compensation will take care of them - except they want their jobs and want to work, not take hand-outs.

In the long run this mandated salarythat just cost 1.4 million American jobs will generate more tax revenue. 1.4 million Americans NOT paying taxes is going to create more tax revenue.....1.4 million Americans sucking off the tax-payer funded social program (Unemployment, welfare, food stamps) is going to generate more tax revenue than if they were working?

Really?

Gotta love a Trump economy.

 

[danielpalos]

and 900,000 lifted out of poverty.

How many kicked back into poverty, when their job is destroyed?

With better unemployment compensation, many people could go to school or learn new skills to get a modern job for a modern economy.