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

[Wyatt earp]

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.

It’s economics 101. Which is why you don’t get it.

Higher pay results in higher income

Higher income results in more discretionary spending

Higher discretionary spending leads to higher sales of goods

Higher sales of goods means more manufacturing and production

More manufacturing and production means more need for raw materials

More need of raw materials means more export-import trade

Which means more transportation needs

Which means more jobs in all categories mentioned above

You getting this yet Cletis?

It's still minimum wage the bottom God damn your fucking stupid...

 

[Wyatt earp]

So what does a CEO pay have to do with minimum wage?

ANY company "needing" to offset an increase in MW has a big bucket that can be used for that purpose.

But it's far more important that the jerks at the top get an extra vacation home in Aspen or Marth's Vineyard than for the workers who actually make the product that produces the company's profits has just a DECENT life...in your mind anyway

Trickle up poor, that's what your after

 

[hadit]

Government turns around and shovels that money back out through welfare programs. Want to argue that?

We could be lowering that cost by ensuring the private sector pays enough.

Your plan would only increase dependence on the government and thus ensure government payouts would only increase along with it.

 

[Blues Man]

Who's going to do the work of the 1.4 million?

It's not as if employers keep surplus workers around the shop just in case.

They'll just get by with one or 2 less employees.

Or maybe the business won't hire a cleaning company and have their workers sweep up

Maybe the owner will plow his own parking lot instead of paying someone else to do it?

There are millions of ways to save a little money here and there

That depends on the cost differential. If you have to pay an employee more per hour than you would a cleaning company, you'd be foolish to cut the cleaning company. Same with plowing the parking lot. The owner would have to have his own equipment, transport it to the parking lot, carry insurance to protect him if he damages a car or city property and take the time out of his day to do the plowing. He would be stupid to do that if he was getting the equivalent of $100/hr from the company and would pay a service $50/hr.

and you don't think the cleaning company will have to pay their cleaners 15 an hour too?

So not only do your labor costs go up but you now have to pay the cleaners more too.

And since plowing is usually done before the business opens or after it closes it doesn't cut into the owners productivity at work so why pay a guy to do it?

Sure, but a professional cleaning company will have all the equipment necessary to get the job done faster, thus costing less. And, consider that a business owner doesn't set his work schedule by the times the business is open or closed. Any time spent freezing his butt off in the parking lot is time spent not working on the business.

it depends on the business.

not everyone needs a cleaning crew and how long does it take to plow a lot?

20 or 30 minutes?

 

[Blues Man]

Introduction and key findings
Chief executive officers (CEOs) of the largest firms in the U.S. earn far more today than they did in the mid-1990s and many times what they earned in the 1960s or late 1970s. They also earn far more than the typical worker, and their pay has grown much more rapidly. Importantly, rising CEO pay does not reflect rising value of skills, but rather CEOs’ use of their power to set their own pay. And this growing power at the top has been driving the growth of inequality in our country.

Once again it seems you're too fucking stupid to realize that most people don't work for global corporations with high paid CEOs and millions of middle level managers.

So what a CEO gets paid has no relation to what most people get paid

 

[Blues Man]

So what does a CEO pay have to do with minimum wage?

ANY company "needing" to offset an increase in MW has a big bucket that can be used for that purpose.

But it's far more important that the jerks at the top get an extra vacation home in Aspen or Marth's Vineyard than for the workers who actually make the product that produces the company's profits has just a DECENT life...in your mind anyway

So you are equating the small business owner with 20 employees to the global corporation with tens of thousands of employees.

 

[Ray From Cleveland]

It’s economics 101. Which is why you don’t get it.

Higher pay results in higher income

Higher income results in more discretionary spending

Higher discretionary spending leads to higher sales of goods

Higher sales of goods means more manufacturing and production

More manufacturing and production means more need for raw materials

More need of raw materials means more export-import trade

Which means more transportation needs

Which means more jobs in all categories mentioned above

You getting this yet Cletis?

What economics 101 dictates that you can't raise wages for one small group of people. If the Democrats ever pass a $15.00 minimum wage, everybody on the food chain is going to want more money for their labor as well. In fact some unions base their wage indexed on the minimum wage.

Well that's great. It means everybody makes more money. Okay, and where is all this new money going to come from?

So now what you've really done is create inflation. When that takes place, the cost of everything we buy and use increases in price as well. Bottom line is that minimum wage worker who had his or her minimum wage increased will be spending this new found money on the new costs of products or services. In other words, they will be no better off making $15.00 an hour then as they are making $7.25 today because everything will cost so much more.

 

[Ray From Cleveland]

it depends on the business.

not everyone needs a cleaning crew and how long does it take to plow a lot?

20 or 30 minutes?

It's not so much the time it takes but the idea you might not be setup to do those chores. My line of work was transportation. Companies called us to make pickups and deliveries. A few thought they could cut costs buy purchasing their own truck and doing those pickups and deliveries themselves. When they realized the cost to buy or lease a truck, getting a dependable CDL driver to do the deliveries, the cost to maintain the equipment, the insurance, dealing with all the government BS, they came to the realization it was less cost effective. Dealing with all those problems is our business. In a matter of time they got rid of their truck and called us back again.

Years ago the city used to collect our garbage. After a while, they found it more cost effective for a garbage company to do it instead for the same reasons. They never went back either.

 

[Blues Man]

it depends on the business.

not everyone needs a cleaning crew and how long does it take to plow a lot?

20 or 30 minutes?

It's not so much the time it takes but the idea you might not be setup to do those chores. My line of work was transportation. Companies called us to make pickups and deliveries. A few thought they could cut costs buy purchasing their own truck and doing those pickups and deliveries themselves. When they realized the cost to buy or lease a truck, getting a dependable CDL driver to do the deliveries, the cost to maintain the equipment, the insurance, dealing with all the government BS, they came to the realization it was less cost effective. Dealing with all those problems is our business. In a matter of time they got rid of their truck and called us back again.

Years ago the city used to collect our garbage. After a while, they found it more cost effective for a garbage company to do it instead for the same reasons. They never went back either.

There's a big difference between a trucking company making deliveries on time and plowing one parking lot.

I always cleaned my own office and took my own trash to the dump. But I have been told that I am a cheap fucker that could make a nickel squeak.

 

[Ray From Cleveland]

There's a big difference between a trucking company making deliveries on time and plowing one parking lot.

I always cleaned my own office and took my own trash to the dump. But I have been told that I am a cheap fucker that could make a nickel squeak.

If you have a 4 wheel drive truck anyway, it's a matter of investing in a plow. But nobody would find it worthy to buy a $35,000 vehicle with a plow just for the few times every winter to plow a lot or drive.

One of our customers bought this thing that looked like an extended golf cart. I don't know what it was called or how much he paid for it, but it had a plow and he had his employees use it to clear the lot. This guy was the toy king. Every time he seen a toy he wanted, he just bought it price being no object.

 

[Lesh]

So what does a CEO pay have to do with minimum wage?

ANY company "needing" to offset an increase in MW has a big bucket that can be used for that purpose.

But it's far more important that the jerks at the top get an extra vacation home in Aspen or Marth's Vineyard than for the workers who actually make the product that produces the company's profits has just a DECENT life...in your mind anyway

So you are equating the small business owner with 20 employees to the global corporation with tens of thousands of employees.

Nope. Pointing out the bullshit comment made previously. He is talking out his ass.

 

[Lesh]

There's a big difference between a trucking company making deliveries on time and plowing one parking lot.

I always cleaned my own office and took my own trash to the dump. But I have been told that I am a cheap fucker that could make a nickel squeak.

If you have a 4 wheel drive truck anyway, it's a matter of investing in a plow. But nobody would find it worthy to buy a $35,000 vehicle with a plow just for the few times every winter to plow a lot or drive.

One of our customers bought this thing that looked like an extended golf cart. I don't know what it was called or how much he paid for it, but it had a plow and he had his employees use it to clear the lot. This guy was the toy king. Every time he seen a toy he wanted, he just bought it price being no object.

Cute story. Means nothing here

 

[Lesh]

If the Democrats ever pass a $15.00 minimum wage, everybody on the food chain is going to want more money for their labor as well.

And THAT is the crux of the matter. Republicans want to do whatever it takes to suppress wages

 

[skews13]

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.

It’s economics 101. Which is why you don’t get it.

Higher pay results in higher income

Higher income results in more discretionary spending

Higher discretionary spending leads to higher sales of goods

Higher sales of goods means more manufacturing and production

More manufacturing and production means more need for raw materials

More need of raw materials means more export-import trade

Which means more transportation needs

Which means more jobs in all categories mentioned above

You getting this yet Cletis?

Higher pay results in higher income

That is awesome!!

Who is writing those checks?

Higher income results in more discretionary spending

Sweet!

Who gets this higher income?

The businesses making more money because of the customers walking through their doors with more money to spend.

The workers at those businesses making more money because of the customers walking through their doors with more money to spend.

Including those workers.

Next question.

 

[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.

It’s economics 101. Which is why you don’t get it.

Higher pay results in higher income

Higher income results in more discretionary spending

Higher discretionary spending leads to higher sales of goods

Higher sales of goods means more manufacturing and production

More manufacturing and production means more need for raw materials

More need of raw materials means more export-import trade

Which means more transportation needs

Which means more jobs in all categories mentioned above

You getting this yet Cletis?

Higher pay results in higher income

That is awesome!!

Who is writing those checks?

Higher income results in more discretionary spending

Sweet!

Who gets this higher income?

The businesses making more money because of the customers walking through their doors with more money to spend.

The workers at those businesses making more money because of the customers walking through their doors with more money to spend.

Including those workers.

Next question.

The businesses making more money

How much more?

the customers walking through their doors with more money to spend.

Who gave them more?

 

[Staidhup]

The increase in the minimum wage sounds great on paper, great voter appeal, until economic reality sets in. Without going into great detail about the pros and cons the employer must realize a profit above and beyond the cost of hiring a minimum, unproven, or marginally skilled laborer, easier said then done, which is why entry level positions are available in the first place. Now in the event a person is incapable of increasing ones skill sets and is content remaining at the entry level then are they demonstrating the lack of motivation to improve and become a reliable indispensable addition to the employers work force, which commands a higher rate of compensation, and deserve nothing more than they are worth. Employers recognize this and react accordingly or suffer the economic consequences.
Face it the days of the big corporate merry go round is over, employee turnover results in decreased production and profitability. Why politicians wish to penalize those just starting out at the bottom can only be attributed to a lack of understanding cost benefit analysis governing hiring practices and production. Apparently that is why their politicians in the first place.

 

[Ray From Cleveland]

Face it the days of the big corporate merry go round is over, employee turnover results in decreased production and profitability. Why politicians wish to penalize those just starting out at the bottom can only be attributed to a lack of understanding cost benefit analysis governing hiring practices and production. Apparently that is why their politicians in the first place.

That all depends on who the politicians are. Republicans believe a successful society is when those on the bottom rise to the top. Democrats believe a successful society is when you bring those on the top--down.

 

[Ray From Cleveland]

And THAT is the crux of the matter. Republicans want to do whatever it takes to suppress wages

Suppress wages how? By not forcing industry to overpay labor?

In my experience the last ten years if perhaps not more, one of the reasons people can't better themselves is because of drugs. Better paying jobs have random drug tests and people addicted to a variety of narcotics would opt to make lower wages and not have to suffer without their party time. I seen this situation with our customers, and I've seen it right here at home.

I rented to a young couple that had lower paying jobs. She worked at Pizza Hut and he worked at McDonald's. They paid rent albeit a little late, but otherwise good tenants. The always had early model vehicles that broke down all the time or constantly needed tire changes, they didn't have much in the way of decent furniture, but they had their pot, and that's why they never tried to better themselves financially.

Instead of this idiocy of increased minimum wage, why don't the Democrats outlaw random drug screens with the exception of those intoxicated on the job? After all, if you do smoke pot, you could stop for two weeks, get called in for a drug test, and still fail. Democrats could do that now that they have total power, but not one has suggested that. Why? They depend on those lower wage people to vote for them, so keep them there.

 

[Staidhup]

The best way to suppress wages is to mandate the increase in the minimum wage. The second method is to flood the job market with unskilled immigrants, which impacts who? those just entering the job force and unskilled individuals in poverty. Increasing the minimum wage does not cure poverty, at least not in the real world.

 

[danielpalos]

We could be lowering that cost by ensuring the private sector pays enough.

You do that in part by deporting illegal aliens who compete with Americans for those jobs

Raise the minimum wage. Many "illegals" don't speak the language very well.