Author Topic: Congressional Budget Office Report: A $15 Minimum Wage Would Be a Disaster  (Read 725 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 “risk undesirable and unintended consequences” 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 that’s like saying the government could double families’ 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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It’s the SEIU that’s behind this. They want to unionize the fast food industry. It’s easier to do when there isn’t 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.

That’s what it’s supposed to be.