https://www.oann.com/bidens-plan-to-...round-1m-jobs/
OAN Newsroom
UPDATED 1:48 PM PT – Friday, January 22, 2021
A pay raise may sound nice in theory, but Joe Biden’s plan to boost federal minimum wage might actually do more harm than good.
Biden and other Democrats have been long proponents for setting the national minimum wage to $15 an hour, but economists warn that action does not come without consequences.
“Lets say you have five employees. They’ll make less than $15, but now they’ll have to make $15. You’re not going to be able to afford all of those five employees,” Macro Strategist Mitch Roschelle said. “You may have to lay one person off and try to get more productivity out of the remaining people who you are now paying more too. That is just the reality of how businesses work. ”
According to a recent report by the Congressional Budget Office, such a move would cost the U.S. around one million jobs.
The move to increase minimum wage comes as many businesses are already on the brink of collapse due to Democrat imposed shutdowns, which appear to have no end in sight.
“I believe there’s a way to do it safely and we shouldn’t just shut them down,” New York resident Paul Rowe said.
Experts said minimum wage should not be a one size fits all approach, but rather should be adjusted according to individual cities and cost of living.
DPST/CCP marxists should be cautious what they demand and implement - it will come back to bite them on their collective butts!
fiden and his baying entourage see only One way - the marxist DPST/CCP way - and no other opinion is permitted.
- oeb11
- 01-23-2021, 07:48 AM
- Yssup Rider
- 01-23-2021, 09:06 AM
Another OAN Lie.
You’re on a roll today oeb11!
You’re on a roll today oeb11!
- Ripmany
- 01-23-2021, 11:19 PM
or could actually create one million jobs because then people who are just making over broke can afford to buy something and the companies would have to hire somebody. The rich don't eat or drive that much more than poor when poor have money spend. $15.00 would get this country rolling.
- WTF
- 01-24-2021, 05:16 AM
- Tiny
- 01-24-2021, 07:48 AM
I suspect the Congressional Budget Office's estimate of 1 million lost jobs is low. These guys think it it will 2 million,
https://epionline.org/wp-content/upl...imumWage-5.pdf
A $15 minimum wage might make sense in New York City. It might have made sense in my community a year ago, before the bottom fell out of the economy. Applying it throughout the country right now when unemployment is already high would be a mistake. Better to leave this to the states and cities, instead of having the federal government mandate it nationwide. I could see this hurting a lot of people and businesses in places like Puerto Rico, New Mexico and Mississippi.
Restaurant workers who receive tips in particular would be hurt. You'd see people who make a good bit more than $15 an hour lose their jobs, and some restaurants would go out of business. I read an estimate that 700,000 people who receive tips would lose their jobs.
https://epionline.org/wp-content/upl...imumWage-5.pdf
A $15 minimum wage might make sense in New York City. It might have made sense in my community a year ago, before the bottom fell out of the economy. Applying it throughout the country right now when unemployment is already high would be a mistake. Better to leave this to the states and cities, instead of having the federal government mandate it nationwide. I could see this hurting a lot of people and businesses in places like Puerto Rico, New Mexico and Mississippi.
Restaurant workers who receive tips in particular would be hurt. You'd see people who make a good bit more than $15 an hour lose their jobs, and some restaurants would go out of business. I read an estimate that 700,000 people who receive tips would lose their jobs.
- Yssup Rider
- 01-24-2021, 07:52 AM
- oeb11
- 01-24-2021, 10:44 AM
Tiny - amen - good sir!