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

[rightwinger]

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.

We don't need low wage jobs in our first world economy anyway. Wages that are too low merely means that labor is getting subsidized by the public sector with social services simply for the bottom line of Capitalists.

Not true as HS kids need part time jobs to learn what working is like, etc. Flexibility helps too.

HS Kids need part time jobs to earn money for college. It is the way it has worked for generations.
With a minimum wage that has been frozen for 12 years, they have had to substitute debt for earning college money.

So a HS kid should earn 15 an hour to put a BIg Mac, order of fries and a medium coke in a bag 12 hours a week after school?

And in the meantime, some busboy who has a family of 4 working 50 hours a week should be compensated the exact same amount?

You sure about that?

Let’s look at that Big Mac
When introduced in 1969, the Big Mac cost 49 cents, the worker making it made $1.60 an hour. His wage would buy over three Big Macs.

Today, that Big Mac costs $3.99 and the worker earring $7.25 can’t even afford two.

Wages have not kept up

Nice analysis.

You left out the dramatic increase in rent for the franchise as well as the dramatic increase in unemployment insurance for the employer, not to mention the dramatic tax match of the employer, the dramatic increase in liability of the employer

A 16 year old kid does not need to buy 2 big macs an hour.

He needs to make money to go to Playland on the weekend with his girlfriend.

Pay attention, Troll

Cost of living has gone up in all areas over the last 12 years. Riding the Dragon Coaster has exceeded what the ride operator is earning

 

[AzogtheDefiler]

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.

We don't need low wage jobs in our first world economy anyway. Wages that are too low merely means that labor is getting subsidized by the public sector with social services simply for the bottom line of Capitalists.

Not true as HS kids need part time jobs to learn what working is like, etc. Flexibility helps too.

HS Kids need part time jobs to earn money for college. It is the way it has worked for generations.
With a minimum wage that has been frozen for 12 years, they have had to substitute debt for earning college money.

So a HS kid should earn 15 an hour to put a BIg Mac, order of fries and a medium coke in a bag 12 hours a week after school?

And in the meantime, some busboy who has a family of 4 working 50 hours a week should be compensated the exact same amount?

You sure about that?

Let’s look at that Big Mac
When introduced in 1969, the Big Mac cost 49 cents, the worker making it made $1.60 an hour. His wage would buy over three Big Macs.

Today, that Big Mac costs $3.99 and the worker earring $7.25 can’t even afford two.

Wages have not kept up

Supply and demand you can still get two cheeseburgers for $2...and now BK is running a special of buy one whopper and get one free. When introduced it was a novelty and priced accordingly. Also how much did rents go up? Health insurance? Liability insurance? Franchise fees? Don't be so myopic.

 

[AzogtheDefiler]

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.

We don't need low wage jobs in our first world economy anyway. Wages that are too low merely means that labor is getting subsidized by the public sector with social services simply for the bottom line of Capitalists.

Not true as HS kids need part time jobs to learn what working is like, etc. Flexibility helps too.

HS Kids need part time jobs to earn money for college. It is the way it has worked for generations.
With a minimum wage that has been frozen for 12 years, they have had to substitute debt for earning college money.

So a HS kid should earn 15 an hour to put a BIg Mac, order of fries and a medium coke in a bag 12 hours a week after school?

And in the meantime, some busboy who has a family of 4 working 50 hours a week should be compensated the exact same amount?

You sure about that?

Let’s look at that Big Mac
When introduced in 1969, the Big Mac cost 49 cents, the worker making it made $1.60 an hour. His wage would buy over three Big Macs.

Today, that Big Mac costs $3.99 and the worker earring $7.25 can’t even afford two.

Wages have not kept up

Nice analysis.

You left out the dramatic increase in rent for the franchise as well as the dramatic increase in unemployment insurance for the employer, not to mention the dramatic tax match of the employer, the dramatic increase in liability of the employer

A 16 year old kid does not need to buy 2 big macs an hour.

He needs to make money to go to Playland on the weekend with his girlfriend.

Pay attention, Troll

Cost of living has gone up in all areas over the last 12 years. Riding the Dragon Coaster has exceeded what the ride operator is earning

But the ride operator doesn't have to hold that job. He can work elsewhere and being an employee there he can ride it for free.

 

[AzogtheDefiler]

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.

We don't need low wage jobs in our first world economy anyway. Wages that are too low merely means that labor is getting subsidized by the public sector with social services simply for the bottom line of Capitalists.

Not true as HS kids need part time jobs to learn what working is like, etc. Flexibility helps too.

HS Kids need part time jobs to earn money for college. It is the way it has worked for generations.
With a minimum wage that has been frozen for 12 years, they have had to substitute debt for earning college money.

So a HS kid should earn 15 an hour to put a BIg Mac, order of fries and a medium coke in a bag 12 hours a week after school?

And in the meantime, some busboy who has a family of 4 working 50 hours a week should be compensated the exact same amount?

You sure about that?

Let’s look at that Big Mac
When introduced in 1969, the Big Mac cost 49 cents, the worker making it made $1.60 an hour. His wage would buy over three Big Macs.

Today, that Big Mac costs $3.99 and the worker earring $7.25 can’t even afford two.

Wages have not kept up

Nice analysis.

You left out the dramatic increase in rent for the franchise as well as the dramatic increase in unemployment insurance for the employer, not to mention the dramatic tax match of the employer, the dramatic increase in liability of the employer

A 16 year old kid does not need to buy 2 big macs an hour.

He needs to make money to go to Playland on the weekend with his girlfriend.

Pay attention, Troll

Cost of living has gone up in all areas over the last 12 years. Riding the Dragon Coaster has exceeded what the ride operator is earning

In Boston, McDs employees make $13 per hour. You're an idiot. Thanks for playing.

 

[Toddsterpatriot]

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

Link?

You guys say this every time we raise the minimum wage.

And you say it’ll raise inflation. Well then the mw needs to go up and down with inflation

You guys say this every time we raise the minimum wage.

The last time the minimum wage was raised I said it would cost 1.4 million jobs?

I don't believe you.

 

[Dirk the Daring]

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.

Higher paid wages results in FEWER jobs, less demand, and less in tax revenue. Answer this, would you rather have $1 from 10 people, or $.98 cents from 11 people?

 

[SC Patriot]

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.

We don't need low wage jobs in our first world economy anyway. Wages that are too low merely means that labor is getting subsidized by the public sector with social services simply for the bottom line of Capitalists.

Not true as HS kids need part time jobs to learn what working is like, etc. Flexibility helps too.

HS Kids need part time jobs to earn money for college. It is the way it has worked for generations.
With a minimum wage that has been frozen for 12 years, they have had to substitute debt for earning college money.

So a HS kid should earn 15 an hour to put a BIg Mac, order of fries and a medium coke in a bag 12 hours a week after school?

And in the meantime, some busboy who has a family of 4 working 50 hours a week should be compensated the exact same amount?

You sure about that?

Let’s look at that Big Mac
When introduced in 1969, the Big Mac cost 49 cents, the worker making it made $1.60 an hour. His wage would buy over three Big Macs.

Today, that Big Mac costs $3.99 and the worker earring $7.25 can’t even afford two.

Wages have not kept up

Nice analysis.

You left out the dramatic increase in rent for the franchise as well as the dramatic increase in unemployment insurance for the employer, not to mention the dramatic tax match of the employer, the dramatic increase in liability of the employer

A 16 year old kid does not need to buy 2 big macs an hour.

He needs to make money to go to Playland on the weekend with his girlfriend.

Pay attention, Troll

Cost of living has gone up in all areas over the last 12 years. Riding the Dragon Coaster has exceeded what the ride operator is earning

And there is where you are missing it.

Fast food chains did well becuase those that worked there were HS Kids looking to make some money to buy Hukapoo shirts and be able to take their girlfriends to an amusement park on a Saturday. It was going well and all were happy

But government...local, state and federal .....decided to levy regulations on them. Tax them at a higher rate and force them to pay into unemployment.....meaning the 16 year olds who were ALWAYS their employee base were now costing them more "NON REVNUE" money....

Then, to make it worse, Heads of Households decided to take those jobs. Why? Easy. Non stressful. Flexible hours....and now they want to make 32K a year bagging burgers and fries.

Sorry Bro...its fucked up

 

[Toro]

It's a bad idea.

Funnily, when they put $15 minimum wage on the ballot here in Florida, something like half of Trump supporters voted for it.

 

[Mr Natural]

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.

Higher paid wages results in FEWER jobs, less demand, and less in tax revenue. Answer this, would you rather have $1 from 10 people, or $.98 cents from 11 people?

“Prosperity Through Lower Wages!”

 

[SC Patriot]

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.

We don't need low wage jobs in our first world economy anyway. Wages that are too low merely means that labor is getting subsidized by the public sector with social services simply for the bottom line of Capitalists.

Not true as HS kids need part time jobs to learn what working is like, etc. Flexibility helps too.

HS Kids need part time jobs to earn money for college. It is the way it has worked for generations.
With a minimum wage that has been frozen for 12 years, they have had to substitute debt for earning college money.

So a HS kid should earn 15 an hour to put a BIg Mac, order of fries and a medium coke in a bag 12 hours a week after school?

And in the meantime, some busboy who has a family of 4 working 50 hours a week should be compensated the exact same amount?

You sure about that?

Let’s look at that Big Mac
When introduced in 1969, the Big Mac cost 49 cents, the worker making it made $1.60 an hour. His wage would buy over three Big Macs.

Today, that Big Mac costs $3.99 and the worker earring $7.25 can’t even afford two.

Wages have not kept up

Nice analysis.

You left out the dramatic increase in rent for the franchise as well as the dramatic increase in unemployment insurance for the employer, not to mention the dramatic tax match of the employer, the dramatic increase in liability of the employer

A 16 year old kid does not need to buy 2 big macs an hour.

He needs to make money to go to Playland on the weekend with his girlfriend.

Pay attention, Troll

Cost of living has gone up in all areas over the last 12 years. Riding the Dragon Coaster has exceeded what the ride operator is earning

Holy crap! You Westchester? I was Yonkers.
Dragon coaster.
Few outside of the area know of it

 

[SC Patriot]

It's a bad idea.

Funnily, when they put $15 minimum wage on the ballot here in Florida, something like half of Trump supporters voted for it.

Florida tax system on businesses allows for it and increases employment.

 

[SC Patriot]

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.

We don't need low wage jobs in our first world economy anyway. Wages that are too low merely means that labor is getting subsidized by the public sector with social services simply for the bottom line of Capitalists.

Not true as HS kids need part time jobs to learn what working is like, etc. Flexibility helps too.

HS Kids need part time jobs to earn money for college. It is the way it has worked for generations.
With a minimum wage that has been frozen for 12 years, they have had to substitute debt for earning college money.

So a HS kid should earn 15 an hour to put a BIg Mac, order of fries and a medium coke in a bag 12 hours a week after school?

And in the meantime, some busboy who has a family of 4 working 50 hours a week should be compensated the exact same amount?

You sure about that?

Let’s look at that Big Mac
When introduced in 1969, the Big Mac cost 49 cents, the worker making it made $1.60 an hour. His wage would buy over three Big Macs.

Today, that Big Mac costs $3.99 and the worker earring $7.25 can’t even afford two.

Wages have not kept up

Nice analysis.

You left out the dramatic increase in rent for the franchise as well as the dramatic increase in unemployment insurance for the employer, not to mention the dramatic tax match of the employer, the dramatic increase in liability of the employer

A 16 year old kid does not need to buy 2 big macs an hour.

He needs to make money to go to Playland on the weekend with his girlfriend.

Pay attention, Troll

Cost of living has gone up in all areas over the last 12 years. Riding the Dragon Coaster has exceeded what the ride operator is earning

True....but the liability insurance has likely quadrupled....not to mention the rent.

 

[Wyatt earp]

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

The jobs always come back
The market adjusts

So you lied when you said the jobs where not coming back from china?

 

[Toddsterpatriot]

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.

Higher paid wages results in FEWER jobs, less demand, and less in tax revenue. Answer this, would you rather have $1 from 10 people, or $.98 cents from 11 people?

“Prosperity Through Lower Wages!”

“Prosperity Through Lower Employment!”

 

[Mr Natural]

Think of how many jobs could be created if they didn't have to pay the help at all!

 

[Wyatt earp]

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.

We don't need low wage jobs in our first world economy anyway. Wages that are too low merely means that labor is getting subsidized by the public sector with social services simply for the bottom line of Capitalists.

Not true as HS kids need part time jobs to learn what working is like, etc. Flexibility helps too.

HS Kids need part time jobs to earn money for college. It is the way it has worked for generations.
With a minimum wage that has been frozen for 12 years, they have had to substitute debt for earning college money.

Oh please the Democrats and colleges are in cahoots with each other

 

[Toddsterpatriot]

Think of how many jobs could be created if they didn't have to pay the help at all!

Think of the awesomeness if everyone made $1 million/yr.

 

[Wyatt earp]

Think of how many jobs could be created if they didn't have to pay the help at all!

Are you suggesting communism / socialism doesn't work?

 

[Concerned American]

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.

So let me get this straight. You think it is OK to put 900K people out of work and make them destitute, so that you can raise the standard of living for 600K by giving them high paying jobs that haven't been created yet. Sounds like a net loss to me. Glad you don't run the budget in my house.

 

[Concerned American]

Think of how many jobs could be created if they didn't have to pay the help at all!

Think of the awesomeness if everyone made $1 million/yr.

Think of the awesomeness if you had a brain.