So what? Biden is planning to create a bunch of new jobs in green energy, education, infrastructure and health care.
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
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.
I have looked over the last 20 years and I haven't found one President that has created one job other than a new position on his staff or cabinet. Over the same time span I have seen American entrepreneurs create thousands and thousands of new jobs.
The other thing you said is that it is going to bring 900,000 out of poverty which is great, however the CBO says that 1,400,000 will lose jobs, so our net will be a negative 500,000. So I'm not seeing that as a positive.
After the Republican Great Depression, FDR put this nation back to work, in part by raising taxes on income above $3 to $4 million a year (in today's dollars) to 91 percent, and corporate taxes to over 50% of profits. The revenue from those income taxes built dams, roads, bridges, sewers, water systems, schools, hospitals, train stations, railways, an interstate highway system, and airports. It educated a generation returning from World War II. It acted as a cap on the rare but occasional obsessively greedy person taking so much out of the economy that it impoverished the rest of us.
But the rich fought back, and won big-time in 1980 when Reagan promptly cut income taxes on the very rich from 70% down to 27%. Corporate tax rates were also cut so severely that they went from representing over 33% of total federal tax receipts in 1951 to less than 9% in 1983 (they're still in that neighborhood, the lowest in the industrialized world).
The result was devastating. Our government was suddenly so badly awash in red ink that Reagan doubled the tax paid only by people earning less than $40,000/year (FICA), and then began borrowing from the huge surplus this new tax was accumulating in the Social Security Trust Fund. Even with that, Reagan had to borrow more money in his 8 years than the sum total of all presidents from George Washington to Jimmy Carter combined.
In addition to badly throwing the nation into debt, Reagan's tax cut blew out the ceiling on the accumulation of wealth, leading to a new Gilded Age and the rise of a generation of super-wealthy that hadn't been seen since the Robber Baron era of the 1890s or the Roaring 20s.
And, most tragically, Reagan's tax cuts caused America to stop investing in infrastructure. As a nation, we've been coasting since the early 1980s, living on borrowed money while we burn through (in some cases literally) the hospitals, roads, bridges, steam tunnels, and other infrastructure we built in the Golden Age of the Middle Class between the 1940s and the 1980s.
We even stopped investing in the intellectual infrastructure of this nation: college education. A degree that a student in the 1970s could have paid for by working as a waitress now means incurring massive and life-altering debt for all but the very wealthy. Reagan, who as governor ended free tuition at the University of California, put into place the foundations for the explosion in college tuition we see today.
Roll Back the Reagan Tax Cuts | Common Dreams
Our bridges are falling apart (among other things), and its Ronald Reagan's fault. A few hours before the bridge collapsed in Minnesota, a news release landed (among hundreds) in my email inbox. It was from the right-wing "Heartland Institute" and a Minnesota conservative group calling itself...www.commondreams.org
Those previous shovel ready jobs can be "reactivated" sooner. And, all those EO's were merely overturning Your guy's EO's.
How are you calculating that value?
Funny I just looked up mississippi/mcdonald's on indeed they are starting over minimum wage
Why so your $20 dollar gym shoes cost $25 bucks?
World war II not the new deal or higher taxes
After the Republican Great Depression, FDR put this nation back to work, in part by raising taxes on income above $3 to $4 million a year (in today's dollars) to 91 percent, and corporate taxes to over 50% of profits. The revenue from those income taxes built dams, roads, bridges, sewers, water systems, schools, hospitals, train stations, railways, an interstate highway system, and airports. It educated a generation returning from World War II. It acted as a cap on the rare but occasional obsessively greedy person taking so much out of the economy that it impoverished the rest of us.
Roll Back the Reagan Tax Cuts | Common Dreams
Our bridges are falling apart (among other things), and its Ronald Reagan's fault. A few hours before the bridge collapsed in Minnesota, a news release landed (among hundreds) in my email inbox. It was from the right-wing "Heartland Institute" and a Minnesota conservative group calling itself...
But the rich fought back, and won big-time in 1980 when Reagan, until then the fringe "Voodoo economics" candidate who was heading into the election trailing far behind Jimmy Carter, was swept into the White House on a wave of public concern of the Iranians taking US hostages. Reagan promptly cut income taxes on the very rich from 70% down to 27%. Corporate tax rates were also cut so severely that they went from representing over 33% of total federal tax receipts in 1951 to less than 9% in 1983 (they're still in that neighborhood, the lowest in the industrialized world).
The result was devastating. Our government was suddenly so badly awash in red ink that Reagan doubled the tax paid only by people earning less than $40,000/year (FICA), and then began borrowing from the huge surplus this new tax was accumulating in the Social Security Trust Fund. Even with that, Reagan had to borrow more money in his 8 years than the sum total of all presidents from George Washington to Jimmy Carter combined.
In addition to badly throwing the nation into debt, Reagan's tax cut blew out the ceiling on the accumulation of wealth, leading to a new Gilded Age and the rise of a generation of super-wealthy that hadn't been seen since the Robber Baron era of the 1890s or the Roaring 20s.
And, most tragically, Reagan's tax cuts caused America to stop investing in infrastructure. As a nation, we've been coasting since the early 1980s, living on borrowed money while we burn through (in some cases literally) the hospitals, roads, bridges, steam tunnels, and other infrastructure we built in the Golden Age of the Middle Class between the 1940s and the 1980s.
We even stopped investing in the intellectual infrastructure of this nation: college education. A degree that a student in the 1970s could have paid for by working as a waitress now means incurring massive and life-altering debt for all but the very wealthy. Reagan, who as governor ended free tuition at the University of California, put into place the foundations for the explosion in college tuition we see today.
Name the republican?
That's $15K to $18K a YEAR. You can't even live on that in Mississippi. Hell that's cheaper than slaves. With them ya had to buy em and feed em and cloth em and house em.Funny I just looked up mississippi/mcdonald's on indeed they are starting over minimum wage
Crew
McDonald’s
196,378 reviews
Booneville, MS 38829
Job
Company
Insights
Job details
Salary
$7.50 - $9.00 an hour
Right because in NY and LA and other large cities $15 an hour will put you out on the streets.
Yes you can with $400 in rentThat's $15K to $18K a YEAR. You can't even live on that in Mississippi. Hell that's cheaper than slaves. With them ya had to buy em and feed em and cloth em and house em.Funny I just looked up mississippi/mcdonald's on indeed they are starting over minimum wage
Crew
McDonald’s
196,378 reviews
Booneville, MS 38829
Job
Company
Insights
Job details
Salary
$7.50 - $9.00 an hour
Pay em $15K and let THEM worry about all that shit
You live in a strange world, I’m glad most of us don’t live there.
They "went out of fashion" because of relentless decades long attacks by Republicans
It means that they now can save money by automation than with manual labor. There is a tipping point.
And because they got everything they wanted, then became too expensive and didn't adapt to changing times. Even today they could be relevant but act like they're stuck in 1932.
