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2021-01-26 3:11 PM

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Champion
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Alabama
Subject: $15 minimum wage
“A recent analysis published by the Congressional Budget Office, a nonpartisan agency, found that as many as 3.7 million workers could lose their jobs as a result of the minimum wage increase.”

Dems are pushing for $15 minimum wage. The fallacy being this will lift people out of poverty. It won’t! If businesses owners see revenue drops does anyone think they will sell their second home to make ends meet? Nope. They will simply raise prices to cover the lost revenue. This also has a domino effect as the person who has worked at a company for 10 years who already makes minimum wage will find themselves working for entry level pay making as little as the 16 yo HS kid bagging groceries. They will demand a raise or leave.

When a Happy meal goes up to $12 that increase in minimum wage won’t go as far.

Most importantly is geography! Probably cost 3x or more to live in a big city than it does to live in rural America. Minimum wage should be left to the states who better understand local wages and cost of living.

This is a typical ready-fire-aim play by democrats!

I read where Bernie is pushing this saying one cannot live on the current minimum wage. That’s because minimum wage is for entry level workers and kids who don’t have a mortgage! I recently saw an article where plumbers make $52/hr. Construction workers $32/hr. Several other trades were listed as well. But if your big ambition is life is to flip burgers or round up shopping carts from the parking lot, you might not ever be able to afford your dream house.



2021-01-26 3:27 PM
in reply to: Rogillio

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Middle River, Maryland
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Subject: RE: $15 minimum wage

Originally posted by Rogillio “A recent analysis published by the Congressional Budget Office, a nonpartisan agency, found that as many as 3.7 million workers could lose their jobs as a result of the minimum wage increase.” Dems are pushing for $15 minimum wage. The fallacy being this will lift people out of poverty. It won’t! If businesses owners see revenue drops does anyone think they will sell their second home to make ends meet? Nope. They will simply raise prices to cover the lost revenue. This also has a domino effect as the person who has worked at a company for 10 years who already makes minimum wage will find themselves working for entry level pay making as little as the 16 yo HS kid bagging groceries. They will demand a raise or leave. When a Happy meal goes up to $12 that increase in minimum wage won’t go as far. Most importantly is geography! Probably cost 3x or more to live in a big city than it does to live in rural America. Minimum wage should be left to the states who better understand local wages and cost of living. This is a typical ready-fire-aim play by democrats! I read where Bernie is pushing this saying one cannot live on the current minimum wage. That’s because minimum wage is for entry level workers and kids who don’t have a mortgage! I recently saw an article where plumbers make $52/hr. Construction workers $32/hr. Several other trades were listed as well. But if your big ambition is life is to flip burgers or round up shopping carts from the parking lot, you might not ever be able to afford your dream house.

The whole analysis:

In its 2019 analysis, CBO concluded that raising minimum hourly pay for employees to $15 would have both positive and negative effects.

“In an average week in 2025, the $15 option would boost the wages of 17 million workers who would otherwise earn less than $15 per hour. Another 10 million workers otherwise earning slightly more than $15 per hour might see their wages rise as well,” the CBO said. The budget analysts also calculated that “the number of people with annual income below the poverty threshold in 2025 would fall by 1.3 million.”

On the other hand, CBO said, “1.3 million other workers would become jobless, according to CBO’s median estimate.” In addition, it said, “there is a two-thirds chance that the change in employment would be between about zero and a decrease of 3.7 million workers.”

That means CBO anticipates that up to 3.7 million jobs could be eliminated — but that’s not the same as saying that “will” happen, as Paul stated it. CBO said there is a lot of uncertainty about how a $15 minimum wage would actually affect employment.

“First, future wage growth under current law may differ from CBO’s projections. If wages grow more slowly than CBO projects, for example, then the [$15] option would induce both larger increases in wages and larger decreases in employment than CBO estimates,” its report said. “Second, employment’s responsiveness to mandated wage increases might be stronger or weaker than CBO anticipates. If employment is less responsive than CBO expects, for example, then the option would have a smaller effect on employment than CBO has estimated.”

So basically, they don't know.

That said, I think $15/hour is bat$h!t crazy.  100% agree with you on this, the jobs impacted are not designed/intended as permanent work to raise a family, etc.

2021-02-09 9:04 AM
in reply to: jmhpsu93

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Champion
10154
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Alabama
Subject: RE: $15 minimum wage
CBO predicts $15 minimum wage will cost 1,400,000 jobs.

Wow!

I expect we will be seeing many more self-checkout/self-bagging aisles at the grocery store! The cost of everything is going to explode!

I will also predict a big exodus from the big cities that already mandate $15/hr. Why live there where COL is so much higher when you can make the same thing is rural America where you can rent a 4 BR house for what you pay for a 1 BR studio in the city.
2021-02-09 1:52 PM
in reply to: 0

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Subject: RE: $15 minimum wage

Let 'em run!!  Do not get in the way of that party's self-destruction!  It needs to happen for this country to remain viable.



Edited by Left Brain 2021-02-09 1:53 PM
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