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

[Wyatt earp]

In the long run, higher paid labor creates more in demand and generates more in tax revenue.

Say what? Please explain how higher paid labor creates more demand.

Are you on the right wing? If the minimum wage doubles (in this case), those persons will be able to afford to eat at that establishment twice a week not just once a week.

Except that if wages are doubled, the price of the food will rise accordingly so they will still only be able to afford one meal. This isn’t complicated.

MW has been raised in the past and that did NOT occur

Of course it did, hell I remember old people eating dog food, and if it didn't why do we need to raise minimum wage?

 

[hadit]

Why don't cities and states set their own MW to whatever level they think exceeds what someone can get from welfare?

Some have raised their minimum wage to adjust for a higher cost of living. That doesn't help anyone making a minimum wage that was stagnant for around a decade.

It helps those who live in those areas. Why are you not petitioning your local government to raise your MW if you think it's too low?

 

[hadit]

Here's a shocker. Businesses are not responsible to help anyone maintain a lifestyle. And answer me this. Cities and states seem to have figured out that they can set their MW as high as they want to. Why are you not complaining to your local governments that your MW is too low?

National standards are more comprehensive and ensure all of your competition has the same wage rate.

Companies move locations all the time to cut costs. Why aren't you complaining that companies in NYC face unfair competition from companies based in Texas that have much lower costs? It would be up to the companies to decide if they wanted to move from a high cost area to a low cost one. Naturally, after they moved, they would put upward pressure on wages in their new area. Ever consider that?

 

[hadit]

In the long run, higher paid labor creates more in demand and generates more in tax revenue.

Say what? Please explain how higher paid labor creates more demand.

Are you on the right wing? If the minimum wage doubles (in this case), those persons will be able to afford to eat at that establishment twice a week not just once a week.

So, Daniel, once and for all, do you advocate doubling the MW quickly or incrementally over a period of years? Please answer straight up yes or no.

I advocate a cost of living adjustment now with corresponding tax breaks for businesses to be phased out when the multiplier starts having its effect.

Good enough for you, Lesh?

 

[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.

Only if you raise it gradually enough that the market can adjust. Double it overnight and impact 60% of the work force and things can get ugly.

"adjust" = raise prices slowly enough that customers don't riot...

And that adjustment still results in the loss of jobs, just less noticeably. My Dad would tell us that in the 1950's they marveled at the Soviet Union where you had to pump your own gas while here in the States we had a teenager come out and not only pump your gas but check your tires, oil and water. Get that kind of service lately? Now, when you get fast food, more likely than not you'll place your order and pay for it on a touch screen. The only time you interact with a person is when somebody hands you a bag and a cup to go pour your own drink. Go grocery shopping and you can scan and bag everything on your own. Low end jobs do disappear as they become more expensive. Even higher paying jobs are disappearing. Once upon a time, auto manufacturing assembly lines employed hundreds of thousands of highly paid workers. Now a relative handful monitor and fix the machines that put the cars together. The only question is, what will replace the lost jobs? The trend is jobs that require more training and more education before you can even start. And prices continue to rise.

And if you lowered the minimum wage to zero, where it belongs, you could very well have those same types of jobs back.

I don't argue that we should shun automation to save manual labor jobs, but we do need to acknowledge the very real costs imposed by life and not pretend we can just arbitrarily jack the MW with no ill effects at all.

I agree, we should NOT jack with the minimum wage, which includes, having a minimum wage.

 

[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

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.

Only if you raise it gradually enough that the market can adjust. Double it overnight and impact 60% of the work force and things can get ugly.

"adjust" = raise prices slowly enough that customers don't riot...

And that adjustment still results in the loss of jobs, just less noticeably. My Dad would tell us that in the 1950's they marveled at the Soviet Union where you had to pump your own gas while here in the States we had a teenager come out and not only pump your gas but check your tires, oil and water. Get that kind of service lately? Now, when you get fast food, more likely than not you'll place your order and pay for it on a touch screen. The only time you interact with a person is when somebody hands you a bag and a cup to go pour your own drink. Go grocery shopping and you can scan and bag everything on your own. Low end jobs do disappear as they become more expensive. Even higher paying jobs are disappearing. Once upon a time, auto manufacturing assembly lines employed hundreds of thousands of highly paid workers. Now a relative handful monitor and fix the machines that put the cars together. The only question is, what will replace the lost jobs? The trend is jobs that require more training and more education before you can even start. And prices continue to rise.

And if you lowered the minimum wage to zero, where it belongs, you could very well have those same types of jobs back.

in other words, bring back slavery

 

[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.

Only if you raise it gradually enough that the market can adjust. Double it overnight and impact 60% of the work force and things can get ugly.

"adjust" = raise prices slowly enough that customers don't riot...

And that adjustment still results in the loss of jobs, just less noticeably. My Dad would tell us that in the 1950's they marveled at the Soviet Union where you had to pump your own gas while here in the States we had a teenager come out and not only pump your gas but check your tires, oil and water. Get that kind of service lately? Now, when you get fast food, more likely than not you'll place your order and pay for it on a touch screen. The only time you interact with a person is when somebody hands you a bag and a cup to go pour your own drink. Go grocery shopping and you can scan and bag everything on your own. Low end jobs do disappear as they become more expensive. Even higher paying jobs are disappearing. Once upon a time, auto manufacturing assembly lines employed hundreds of thousands of highly paid workers. Now a relative handful monitor and fix the machines that put the cars together. The only question is, what will replace the lost jobs? The trend is jobs that require more training and more education before you can even start. And prices continue to rise.

And if you lowered the minimum wage to zero, where it belongs, you could very well have those same types of jobs back.

in other words, bring back slavery

Please explain how having no minimum wage would result in 'slavery?'

 

[Ray From Cleveland]

in other words, bring back slavery

Slavery is forcing people to work for you with no pay. If somebody decides to do it on their own, it's not slavery.

Many places have a hard time finding employees with the minimum wage, so most places start above it to attract workers. If we abolished minimum wage, it wouldn't change a thing.

 

[hadit]

in other words, bring back slavery

Slavery is forcing people to work for you with no pay. If somebody decides to do it on their own, it's not slavery.

Many places have a hard time finding employees with the minimum wage, so most places start above it to attract workers. If we abolished minimum wage, it wouldn't change a thing.

True, but then it would allow people like my brother in law who didn't finish high school but apprenticed himself out to a cabinet maker for a few years at very low pay to learn the trade. He now has a very successful cabinet business and he wouldn't have been able to do it if his employer was forced to pay him a "living wage" while he was learning.

 

[danielpalos]

Why don't cities and states set their own MW to whatever level they think exceeds what someone can get from welfare?

Some have raised their minimum wage to adjust for a higher cost of living. That doesn't help anyone making a minimum wage that was stagnant for around a decade.

It helps those who live in those areas. Why are you not petitioning your local government to raise your MW if you think it's too low?

Because it doesn't help those at the current minimum wage now. You make it seem like subsidizing employers who offer cheap wages is a good thing. Why are wages not keeping up with inflation? We would not need any statutory wages if Capitalism worked as well in real life as it does in right wing fantasy.

 

[danielpalos]

Here's a shocker. Businesses are not responsible to help anyone maintain a lifestyle. And answer me this. Cities and states seem to have figured out that they can set their MW as high as they want to. Why are you not complaining to your local governments that your MW is too low?

National standards are more comprehensive and ensure all of your competition has the same wage rate.

Companies move locations all the time to cut costs. Why aren't you complaining that companies in NYC face unfair competition from companies based in Texas that have much lower costs? It would be up to the companies to decide if they wanted to move from a high cost area to a low cost one. Naturally, after they moved, they would put upward pressure on wages in their new area. Ever consider that?

Red States are cheaper for the same reason third world economies are cheaper. Besides, if enough people from blue States move there, they will eventually realize how fantastical right wingers are and vote blue instead of red.

 

[danielpalos]

I agree, we should NOT jack with the minimum wage, which includes, having a minimum wage.

I would agree with you, but if Capitalism worked as advertised we would have never needed a War on Poverty to begin with. Wages that are too low means those employees will still need social services and that (tax) Cost of Government. Are you in favor of subsidizing employers with cheap labor for their bottom line at tax payer expense?

 

[danielpalos]

Please explain how having no minimum wage would result in 'slavery?'

There were no minimum wages back then or slavery would never have been possible.

 

[Toddsterpatriot]

Why don't cities and states set their own MW to whatever level they think exceeds what someone can get from welfare?

Some have raised their minimum wage to adjust for a higher cost of living. That doesn't help anyone making a minimum wage that was stagnant for around a decade.

It helps those who live in those areas. Why are you not petitioning your local government to raise your MW if you think it's too low?

Because it doesn't help those at the current minimum wage now. You make it seem like subsidizing employers who offer cheap wages is a good thing. Why are wages not keeping up with inflation? We would not need any statutory wages if Capitalism worked as well in real life as it does in right wing fantasy.

Why are wages not keeping up with inflation?

Over what time frame? Link?

 

[danielpalos]

Why don't cities and states set their own MW to whatever level they think exceeds what someone can get from welfare?

Some have raised their minimum wage to adjust for a higher cost of living. That doesn't help anyone making a minimum wage that was stagnant for around a decade.

It helps those who live in those areas. Why are you not petitioning your local government to raise your MW if you think it's too low?

Because it doesn't help those at the current minimum wage now. You make it seem like subsidizing employers who offer cheap wages is a good thing. Why are wages not keeping up with inflation? We would not need any statutory wages if Capitalism worked as well in real life as it does in right wing fantasy.

Why are wages not keeping up with inflation?

Over what time frame? Link?

Over the time frame the minimum wage stagnated for around a decade and States and municipalities felt the need to enact non-Capitalism wage laws by statute.

 

[Toddsterpatriot]

Why don't cities and states set their own MW to whatever level they think exceeds what someone can get from welfare?

Some have raised their minimum wage to adjust for a higher cost of living. That doesn't help anyone making a minimum wage that was stagnant for around a decade.

It helps those who live in those areas. Why are you not petitioning your local government to raise your MW if you think it's too low?

Because it doesn't help those at the current minimum wage now. You make it seem like subsidizing employers who offer cheap wages is a good thing. Why are wages not keeping up with inflation? We would not need any statutory wages if Capitalism worked as well in real life as it does in right wing fantasy.

Why are wages not keeping up with inflation?

Over what time frame? Link?

Over the time frame the minimum wage stagnated for around a decade and States and municipalities felt the need to enact non-Capitalism wage laws by statute.

Over the time frame the minimum wage stagnated for around a decade

So you lied. Wages are keeping up with inflation but the minimum wage isn't.

Thanks for admitting your lie.

 

[danielpalos]

Why don't cities and states set their own MW to whatever level they think exceeds what someone can get from welfare?

Some have raised their minimum wage to adjust for a higher cost of living. That doesn't help anyone making a minimum wage that was stagnant for around a decade.

It helps those who live in those areas. Why are you not petitioning your local government to raise your MW if you think it's too low?

Because it doesn't help those at the current minimum wage now. You make it seem like subsidizing employers who offer cheap wages is a good thing. Why are wages not keeping up with inflation? We would not need any statutory wages if Capitalism worked as well in real life as it does in right wing fantasy.

Why are wages not keeping up with inflation?

Over what time frame? Link?

Over the time frame the minimum wage stagnated for around a decade and States and municipalities felt the need to enact non-Capitalism wage laws by statute.

Over the time frame the minimum wage stagnated for around a decade

So you lied. Wages are keeping up with inflation but the minimum wage isn't.

Thanks for admitting your lie.

Why is anyone making the statutory minimum wage if wages were keeping up with inflation?

 

[Dirk the Daring]

Why don't cities and states set their own MW to whatever level they think exceeds what someone can get from welfare?

Some have raised their minimum wage to adjust for a higher cost of living. That doesn't help anyone making a minimum wage that was stagnant for around a decade.

It helps those who live in those areas. Why are you not petitioning your local government to raise your MW if you think it's too low?

Because it doesn't help those at the current minimum wage now. You make it seem like subsidizing employers who offer cheap wages is a good thing. Why are wages not keeping up with inflation? We would not need any statutory wages if Capitalism worked as well in real life as it does in right wing fantasy.

Maybe... just maybe... the problem in the equation isn't the wages, but instead is the skyrocketing inflation? Maybe?

 

[Canon Shooter]

So who will be paying for the significant cost increase for many businesses? Will business owners just absorb the losses?

I can answer that for you. Either the price of the product goes up or people get laid off. Simple really.

Exactly.

One of my employees is responsible for cleaning the bathrooms and the kitchen areas. He makes $9.50 an hour. In September that'll go up to the minimum wage of $10 an hour. In September of 2022, it goes to $11 an hour. He's already been told that his position will be done away with on September 30, 2023. That's when minimum wage goes to $13 an hour in Florida. At that point, it's just a lot cheaper for me to contract that work out to a commercial cleaning company.

So, there's just one example of how a minimum wage increase like this is going to hurt the people who work for minimum wage...

 

[sealybobo]

I think a child can understand it’s bad policy. The people advocating for it know it’s bad policy. They just want to pretend they’re standing up for the poor.

Republicans argue 4 $5 hr jobs are better than one $20 hr job.

I'm not a Republican, but consider this:

Say you own a business where all you do is mow lawns. Nothing technical, no real intellect required. Drive/push the mower, mow the lawn, then move on to the next one.

Will productivity be higher if you have four guys doing that at $5 an hour or one guy doing it at $20 an hour?

All I know is what made America great. Ford, GM, Chrysler all overpaying their low skill blue collar workers. Don’t know why they did it. Instead of $35 hr they should have paid them $15 hr and doubled productivity right? But that’s not what made America great. What made us great, at least here in Michigan, was that every third house was a big three family. And everyone else fed off those highly paid low skill workers. They were the heads of their households. Women wanted them men wanted to be them. Lol.

I don’t know why they paid so well oh yea I forgot, unions! The very thing republicans destroyed starting with reagan.

Henry Ford started paying his workers $5 a day in 1914, the highest wages in the world at the time. The UAW was started in 1935, meaning they were paid well BEFORE the unions existed. Please try again.

Good point