Author Topic: Congressional Budget Office Report: A $15 Minimum Wage Would Be a Disaster  (Read 726 times)

loco

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Congressional Budget Office Report: A $15 Minimum Wage Would Be an Economic Disaster

The report confirms what even liberal economists caution: A $15 minimum wage would ďrisk undesirable and unintended consequencesĒ and lead to a survival-of-the-fittest labor market, where only the highest-skilled workers come out on top.

Democrats are under the illusion that the government can force employers to artificially increase wages with no adverse consequences for American workers. But thatís like saying the government could double familiesí mortgage and rent payments without any consequence.

Here are six ways this new report exposes the minimum wage proposal as bad policy...

https://www.yahoo.com/news/report-15-minimum-wage-economic-190000618.html

Thin Lizzy

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Itís the SEIU thatís behind this. They want to unionize the fast food industry. Itís easier to do when there isnít a big gap between the minimum wage and a union wage. Of course, this would cost many their jobs as automation would become viable in many cases.

IroNat

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I made $2.10/hr in 1975 in my min wage restaurant job in high school.

That equates to $10.32/hr today.

Most businesses are paying more than the federal min wage nowadays in order to get employees.

It would be impossible to hire anyone today at the federal min wage.

Googled these hourly wages:

WalMart pays $10+

Home Depot pays $10+

Kohls pays $9+

Target pays $11

All exceed or a very close to 1975 min wage adjusted for inflation.


Thin Lizzy

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Seattle-based restaurant chain declares bankruptcy, cites high minimum wage

https://news.yahoo.com/seattle-based-restaurant-chain-declares-143532347.html

SOMEPARTS

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I worked fast food when wage went to $4.25 from $3.50 if I recall. I was going to a branch college and never thought that was a job that I could pay rent with. It did however put gas in the car and bought weed and fast food, haha.

Thin Lizzy

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I worked fast food when wage went to $4.25 from $3.50 if I recall. I was going to a branch college and never thought that was a job that I could pay rent with. It did however put gas in the car and bought weed and fast food, haha.

Thatís what itís supposed to be.