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

Discussion in 'Current Events' started by doombug, Jan 21, 2021.

  1. HockeyDad

    HockeyDad Well-Known Member Past Donor

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    Biden should raise the minimum wage to $250/hour and make everybody middle class.
     
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  2. rahl

    rahl Banned

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    The economy statistically performs better under democrat administrations, which was my point.
     
  3. Lil Mike

    Lil Mike Well-Known Member

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    So more unemployment is good because it means the remaining employed workers will be "worth" their wage?
     
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  4. ronv

    ronv Well-Known Member

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    I didn't say that, but it might be true.
    But it may well be better for the economy.
    Think like a republican... Look at all the money saved as fewer people are on welfare.
     
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  5. dagosa

    dagosa Well-Known Member

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    Struggling to stay on point. Good indicator you lost this one.
     
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  6. Lil Mike

    Lil Mike Well-Known Member

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    I'm not sure how throwing millions out of work decreases the welfare rolls, but whatever...
     
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  7. ronv

    ronv Well-Known Member

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    Well, the article says it would bring 18 million out and put 1.8 million in.
     
  8. HockeyDad

    HockeyDad Well-Known Member Past Donor

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    Well killing the pipeline and giving America's energy infrastructure to China should certainly help more Americans into poverty. Absolutely shocking that we have American politicians killing American energy infrastructure projects in favor of Chinese energy infrastructure projects. Just how bought off are the Democratic politicians? The brazenness of it and the MSM's compliance in looking the other way is flabbergasting.
     
    Last edited: Jan 23, 2021
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  9. ellesdee

    ellesdee Well-Known Member

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    Why are we acting surprised? This is another thing he ran on.

    If the people were really against it, they’d have voted more appropriately.

    Nobody even brought is up through the whole time. Trump led a terrible campaign.
     
  10. Lil Mike

    Lil Mike Well-Known Member

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    That's mostly true. Almost everything Biden has done is fulfilling campaign promises. He ran on this stuff and I guess that's what the American people want.
     
  11. Lil Mike

    Lil Mike Well-Known Member

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    Huh? Are you talking about another article other than the one in the OP?
     
  12. ronv

    ronv Well-Known Member

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    The report found that 1.3 million workers who would typically be employed would be without jobs in an average week in 2025. A new federal minimum wage would also increase the pay of 17 million workers in an average week in 2025.
     
  13. dagosa

    dagosa Well-Known Member

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    Last edited: Jan 23, 2021
  14. ellesdee

    ellesdee Well-Known Member

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    There’s nothing left to talk about now until it plays out.
     
  15. Lil Mike

    Lil Mike Well-Known Member

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    Maybe I didn't understand the point you were trying to make in your post #82, but if you are agreeing with the thrust of the OP, that the higher minimum wage will result in higher unemployment, than I guess we agree.
     
  16. Lil Mike

    Lil Mike Well-Known Member

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  17. dairyair

    dairyair Well-Known Member

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    Your source seems to be quite high.

    Raising the federal minimum wage to $15 an hour by 2025 would increase the pay of at least 17 million people, but also put 1.3 million Americans out of work, according to a study by the Congressional Budget Office released on Monday.
    https://www.npr.org/2019/07/08/7396...million-workers-cut-1-3-million-jobs-cbo-says
     
  18. PARTIZAN1

    PARTIZAN1 Well-Known Member

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    Uncle Joe's plan "starts" with having federal employees wages go to $15 per hour over a period of time. What is not set yet is how fast the proposal to $15 will be implemented. There is no way in hell that Congress will approve an immediate jump,tom$15 and Uncle Joe is not stupid so he will notbask for that. The rate now is $7.75 and that held since 2010. '. Some say go to $ 15 by 2025.

    So do we give the economy a heart attack or kill the economy slowly?

    Would a quick move to $15 per hour shock the crap of of everyone and propell us to automate quicker than not?
     
    Last edited: Jan 23, 2021
  19. ronv

    ronv Well-Known Member

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    Sure. A higher unemployment, but a better economy.
     
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  20. fmw

    fmw Well-Known Member

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    I can't believe people are holding on to this old saw after all these years. Give me an example of successful trickle up economics or even the existence of trickle up economics. If you have problems with the tax code attack that, not an economic model that actually describes reality.
     
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  21. Zorro

    Zorro Well-Known Member

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  22. ronv

    ronv Well-Known Member

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  23. Yulee

    Yulee Well-Known Member

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  24. Marcotic

    Marcotic Well-Known Member

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    Well, to be fair, chances are these people who are working are likely also welfare recipients. The fact remains that raising the minimum wage high, and setting it to match inflation every year is the best way to get people off of the dole.
     
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  25. Zorro

    Zorro Well-Known Member

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    #FIGHTFOR$15: New Research Confirms Claim That a $15 Minimum Wage Will Reduce Employment.

    A new paper published by the National Bureau of Economic Research finds a “clear preponderance” of evidence that minimum wage laws reduce employment.

    [​IMG]
    The Two Stooges.​

    Newly released research guts the main argument "progressive" economists make in favor of minimum wage increases.

    A new paper published by the National Bureau of Economic Research rebuts the notion that empirical data show no impact of increases in minimum wage hikes. There is a “clear preponderance” of findings that show a job-killing impact. The documentation of job losses is even more pronounced for teenagers, young adults, and the less-educated.
     
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